Selling a home is a project which if planned and executed right can reap the due benefits by allowing us to sell the property in less amount of time and at a reasonable price.

The first and most crucial step in selling a property is its evaluation and agreeing on the right Pricing which is fair in the current market and justifies the property. This needs to be arrived at objectively, and without emotions, a fair comparative analysis of comparable recent sales in your area should be done by a Realty professional and after meticulously accounting for adjustments and features in your specific property, in the due process arriving at the fair market value.

Getting a home listed at a higher price than its current worth in the market would not help the property to sell and gain any views, it would at best remain as a reference house for similar properties in the market which are priced right. Another downside of pitching property at a higher price than the fair market value also reduces exposure to any qualified buyers who had a budget for buying our property if it were priced right. On the other hand, if you put it for less price on the market, sure it will sell fast, however, you will lose out on the money which property rightfully commands.

A decent job done in evaluation and pricing of a home would result in decent showings on the home to translate to offers, which is a trademark of decently listed property. The rule of thumb for asking price is that it should look and feel like a ‘good investment’ to a prospect, which will encourage them to put an offer that is what you want as a seller. For an in-depth look at the pricing please refer to one of my articles here at Home Pricing for Sellers – Simplified.

Now that we have discussed the pricing, the second most important component of a listing is the Product, which is the home itself, it should be made very clean and appealing to the viewer so that they can visualize themselves living in the property. This would require a bit of planning and detail; also implementing any cost-efficient upgrades which can give a face-lift to the property, for a great lasting first impression.

The home which is not presentable and has a dark look will dissuade any prospective buyer from even entering the house. The property and its every nook and corner should be impeccably clean, without any odours or clutter. Making a home presentable and well-staged ensures that the showings translate to successful offers and the house is not on the market for a long time and becomes stale on the market. Please feel free to refer to the section on Home Staging for an in-depth article on how you can stage your house and handy tips to ensure that it is ‘Showing Ready’.

For a successful listing in the market ensure that once your house is listed, you should be able to entertain any showing requests. The fundamental always holds well: Homes that Shows Well..Sells Well. With restrictions on the time slot for the viewing, it will drive away from the prospective buyer which is the last thing you want. So, as a rule, once the house is listed on MLS, make your best effort to accommodate any viewing request which comes your way.

Wish you all the very best! Reach out to our dedicated team at ELIXIR for any queries you have in Real Estate and we will do our best to help.

Mudit Mehta
Broker of Record
ELIXIR REAL ESTATE INC.
Off: 416-816-6001 | [email protected]