Top Price - Selling Tips

Selling tips for top real estate priceIt’s a fact that most buyers will decide if your property is a fit within minutes after walking through the door. ‘Your property will get only one chance to make a good first impression’!

Achieving the top price is really a ‘team effort’ between you and your realtor.
Your customized marketing plan is developed to maximize the number of ‘qualified’ buyer prospects coming through the door and ultimately having a good offer(s) on the table in a relatively quick time frame.

Here are a just a few of my tips for maximizing the sale price of your property;

1. Prepare the Property.

Preparing your largest and most important asset for sale is well worth the time and relatively minor expense spent. It may be as simple and quick as cleaning and de-cluttering. However, in many situations, preparing a property for sale may need to start several months prior to actually going to market.

Clean Sweep - Clean & dust floors, doors, windows and lights. ‘Scrub to sparkle’ kitchens and bathrooms, remove any extra personal items from walls, table tops and of course those hard to part with realtor fridge magnets.  Don’t take it personally but buyers find it hard to see themselves living in your home with all your family photos/keepsakes and other visual distractions .

The Smell of Money - Perhaps you’ve become nose-blind to some of those aromas in your home.   Odors from pets, foods or maybe those smelly sneakers in the entry need to be masked or eliminated.

Light ‘em Up - Forget those low-E bulbs for the time being.  Add table/floor lamps where required and maximize your wattage/warmth for those dull winter days and evening showings.

Not so Pet Friendly - While your pooch or kitty may be an important part of your family, buyers may react adversely to pet food dishes, litter boxes, dander, pet hair and accompanying smells. Hide any signs of the family pet, de-odorize and have a vacuum (maybe buy a portable) at the ready for quick pre-showing prep. A story comes to mind about the time I sold a property with a crocodile in the basement but that’s for another day.

Perils of Personalizing - Neutral, light colour pallets and uncluttered spaces are a must!
Consider repainting those dark burgundy walls, removing those neon stars from ceilings, put away those leopard skin bead covers, large paintings, wall sculptures and other personal paraphernalia.

Cosmetic Considerations - It’s not that expensive to repaint rooms and replace some worn/damaged flooring & woodwork. Perhaps even a few light fixtures may be ready for a modest (Home Depot budget) upgrade. Most of these things are relatively quick and inexpensive to address. In my experience, you can expect a return of around 2-3 times the cost of minor cosmetic updates so it’s well worth the time and expense if done properly.

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2. Keep it Showing Friendly.

Keep your property easily accessible and ready to show at all times to those qualified buyers.
Usually 24 hours notice is reasonable & seldom is it necessary to open the door to a buyer with less notice.  If you have a tenant in place, that’s another story. In this case, 24 hours notice is a must or limiting showings to a schedule is also an acceptable practice and will help keep the tenant happy and more importantly, paying the rent!  Oh yes, make sure everyone, including pets, leave the home during showings!

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3. Be ready with all the Answers.

Your realtor needs to be armed with all the answers about your property or condo building and surrounding area. Keeping an interested buyer engaged is essential and this is done by providing  detailed, accurate information when requested.  Have ready; details on property improvements, accurate sizes, right of ways/easements, tenancy details and information on the areas schools/amenities.  When selling a condo be up to date on; building improvements/assessments completed or coming in the near future, bylaw restrictions (current/pending) and details regarding any pending development in the immediate area and how it may increase the ‘saleability’ of the property.

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4. Set the Right Price.

There are several factors & strategies in regards to setting the right price and it’s very important to get it right the first time!  This is when you and your realtor spend the time analyzing relevant & current information relating to the local market including; comparable listings, sales and expired/terminated listings.

Effective pricing needs to attract a steady flow of qualified buyers through the door and, depending on the current market conditions, an offer to purchase in a relatively short time frame. What could be worse…a lack of showings or lots of showings with no offers?

The first may indicate at risk of over-pricing while the latter could be exposing other shortfalls in the marketing mix.

In any event, the subject of setting price is well beyond the scope of this forum and needs to be addressed in each specific case by case scenario. Call me for details!

Wayne Pasco Vancouver Realtor
Wayne Pasco
Kore Realty

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5. Timing can be important.

Generally speaking, the best time to sell depends on what it is you’re selling and where it is located.

Perhaps your property and garden show better on warm sunny days while maybe your south facing condo, without AC or a balcony, is a bit too warm/stuffy during those few hot summer weeks.

More importantly, consider the current Listing Competition in the immediate area.
If the timing of a move fits your plans, good advice would be go to market when there is a shortage of similar properties for sale in your area.

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There are several more valuable and proven marketing tips that will help you maximize the sale price of your property.  However, many are better covered after I have had the opportunity to view your property. So please don’t hesitate to give me a call.

Related Reads:
· A little ‘TLC’ gives 400% ROI.
· Buyers say “keep it clean” or  they will walk.
· Rainscreen & Party Wall. (closer look)  

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