Selling your home in a buyers market can be tricky to navigate and often requires the professionals who are experts in their field to ensure a fast sale with optimized profitability. During tough economic times, as we are currently experiencing in Alberta, the reality is that there are more homes than buyers which can ultimately drives home values down and can also affect the rate of sale. A seasoned real estate agent will know how to sell quickly and how to get top dollar for the sale of your home. Every penny counts. Choosing the right agent (not the brand behind them) is the difference between selling at - or close to - your asking price, or drastic reductions in price over a drawn out period. Research the agent themselves. Check out their social media accounts and assess their commitment to broadcast new homes for sale that they are selling. Make sure they are familiar with your area, your market, leverage digital tools such as Facebook Marketplace and have lots of positive reviews on Google or Facebook. A good agent will have no problem providing numerous referrals.
The first step your real estate agent will do is get an accurate property evaluation. This will be critical as this not only determines the potentiality of the final sale price but also helps to identify the length of time a home could spend on the market. If the seller is buying another home, but it is subject to the sale of their current property, then this too plays a critical role for a speedy turnaround.
Love at first sight!!
First impressions make all the difference. Today’s buyers will be drawn to a tidy, clean and clutter-free home and outdoor living space. Pay close attention to how the interiors and exteriors present to new eyes as it is natural for buyers to imagine themselves living in the space.
Staging Your Home
While this may seem odd, staging your home has proven to be a very effective approach that enables the potential buyers to see how each space can be utilized. It answers questions they have going room to room, such as, ‘will our king bed fit’ in the master bedroom to ‘will the bunk beds for the kids fit in the room - with room to spare’. A fresh coat of paint will go a long way with a punch of color to accent some of the features. Stay with neutral tones that are easy to match with. Avoid the super personal touch as it may scare away those who do not have the same taste in home design.
Landscaping and Outdoor Living Space Counts Too!
An outdoor garden is appealing to many new home owners so it is important to make sure that it is also manicured and inviting. Make sure to have short-cut grass, attractive flower beds and any boundary walls are in good condition.
Safe and Secure
Security is also important for most buyers and can often provide a discount with home insurance providers as well. Features such as alarms, security cameras and carbon/smoke detectors need to be in good working order.
Incentivize Potential Buyers To Purchase Your Home
Make it an easy transition for the new home owner. Offering a free home inspection, paying a portion of the closing costs, a hot tub, or even throwing in a year’s worth of HOA fees can give you the edge on the market.
Just Like A Model
Its all about the angle and the lighting! A professional photographer will be worth each penny spent. They know how to capture the angles, with proper lighting to showcase the mood and the beauty of your home - with a polished look. This is critical to make a great first impression. They will ensure that pictures are not cluttered with distractions that give the wrong perception about the space. Pictures taken from a stylish, unique perspective triggers a buyer to do a double-take and look closer at your listing. A 360 degree video also drives engagement online as it allows the potential buyer do the driving to take a closer look at the areas of the home that matter to them the most. All in all. Let the pictures do the talking - so make sure the correct message is being displayed.
Techy Tricks To The Trade
Leveraging social media is a must. Broadcasting Live on Facebook and Instagram will also be a unique way to attract a younger buyer. You can use this to showcase to the potential buyer the great selling features of your home and even a quick tutorial on how easy it is to use some of the appliances. With more than 90% of buyers using the internet to search for properties it is important to keep your listing fresh. Tricks such as rotating the cover photo periodically will attract new attention. While the kitchen may appeal to one person, the master bedroom may be the key selling feature for some and yes, the living space will be the deal breaker for another. Make sure your photos are crisp. Clear of clutter. And they pop. Do not be afraid to stand out from the rest. Make your listing memorable.
Tie Up All The Loose Ends
OK - let’s face it! Aesthetics and curb appeal are an obvious talking point to improve your chances of selling your home in a buyers market. It's also critical to point out that things such as doors, appliances and electrical and plumbing also must be in good working order - and in compliance with current building codes. Many insurance companies in Alberta now require an electrical inspection for older homes to ensure the aluminum wiring has been repaired by a certified electrical company - prior to insuring the home. The electrical service must also be updated to meet current code prior to the sale of the home. This is often overlooked as most everything is hidden behind the walls - out of sight - out of mind. All of these ‘less appealing’ items can slow down the sale of your home drastically and can cost you alot of money in the long run if not addressed before posting your listing.
In closing, the trick to selling your home in a buyers market starts with having it in move-in condition. You want to give the impression that they will be able to move in right away and start enjoying their new home with ease. Having to spend time to repair and money fixing it up the home will not be ideal for many buyers.
Wireworks Electrical Services Ltd. looks forward to partnering with you to get your home sale-ready. We service Sherwood Park, Fort Saskatchewan, St. Albert, Edmonton and surrounding areas. With over 20 years in the electrical trade our team is amped to earn your business!
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