The fundamental truth about real estate – it’s an intense process. You need to be well-informed about your house’s value, your buyers urgency, the state of the market, and several other factors that can affect your property’s final sale price and conditions. You will want to take measures to minimize the risk of personal factors compromising the progression and conditions of the deal. But most of all you need to be prepared to assert your needs and wants over those of the buyer. Keep in mind that you can be diplomatic and sensitive while still being assertive within the deal. Follow the below set of etiquette and techniques throughout the listing period to help ensure you get exactly what you want out of the deal.
Be socially reserved
We get it, you’re committed to share your unique and interesting life with the online world. That’s cool – just don’t bring real estate into it! It is becoming more and more common for savvy real estate agents and the buyers they represent to search sellers online looking for information that they can leverage in the deal. Don’t Tweet that you sold your house before the deal is done and complete. Don’t Instagram the massive crack in your foundations. Don’t update your Facebook status saying that you are finding the selling process stressful. You should even refrain from making any type of public references to any major life changes such as children or divorces within as long as 4 months from when you plan on selling your home. You need to avoid making any sort of implication that you’re desperate to sell your home, because it will not work in your favour. If you have online skeletons, DELETE them.
Pretend you don’t live in your home
As annoying as it is to constantly be washing floors, keeping counters clear and doing laundry every 2 days, maintaining a space that is clear and pristine can make all the difference in making buyers attached and getting a big offer on your listing. A home that looks like it isn’t being lived in also sends a message that the seller has all the time in the world to make the deal happen and is just biding their time – a mindset that will work in your favour from the seller side of the deal. If you have the luxury of moving out of your property during the listing process, this is even better.
Keep your habits in check
Make sure that if you smoke, you are NOT doing it in your home. This will dramatically decrease the value of your property and make for a very difficult sell. If you smoke outside on your balcony or porch, ensure that buyers can’t see any evidence – this is an instant and guaranteed deterrent for 90% of buyers. If you have any other unconventional habits or interests, make sure you tuck it away from viewing eyes. As your Realtor, we aren’t judging, but buyers certainly will.
Don’t be money-hungry
Know your home’s value and price accordingly. There is a fine line between pricing for marketing and pricing for greed. If you inflate the cost of your home beyond what 80% of buyers will pay it can sit on the market for months. Even if you think you have the absolute best condo or townhouse on the market, overpricing is risky and is often a zero sum game. Aim to price accurately, not high. Depending on the market, some sellers have even priced their homes slightly under their value and it has resulted in prices 10%-15% higher than value. It’s a tough pill to swallow, but giving the most amount of people a compelling reason to want your property is more often than not the best way to maximize your final sale price.
We are on your team
Be honest with our real estate team in all aspects of your listing. What flaws does the home have? Are there problems in your neighbourhood? Why are you really selling? Share everything good and bad about your home and needs. Tell us what you really want – both financially and from the selling experience. Remember we work for you and our only job is to advocate for your needs.
Alternative marketing strategy
Is your home’s marketing being optimized? MLS is a great tool but it is not the universal way to attract buyers to your property. Many unique and conventional strategies have been used to build buzz around a property which means more buyers and more offers. We will touch base regularly to talk about how your property is doing as a listing and on which platforms it is being marketed.
Make it convenient for buyers to see your home. When the majority of people work a 9-5pm job it usually means most showing requests take place in the evening. Don’t expect these buyers to reschedule when you say no to their request. Usually it is interpreted as a statement that you as the seller don’t care enough to accommodate everyone, and you will probably lose this potential opportunity. Show prospective buyers that you care about their time.
Set realistic expectations
Wondering how you can make your house, townhouse, or condo sell for thousands over the asking price like that story you saw in the news? Extraordinary instances of bidding wars with 10 or more buyers are very rare and usually only happen a few times per year (that’s why they are in the media!). Sometimes the number one thing holding a real estate deal back is the buyer or seller’s attitude towards getting more out of a deal. Establishing realistic expectations in advance will always set you up for a rewarding experience.