The art of selling your home quickly
What separates a home that sits on the market for months from one that’s sold in a week? Industry experts say it comes down to properly executing proven strategies and techniques.
Calgary-based real estate agent Christina Hagerty with Re/Max Realty Professionals, who has been working the industry for more than two decades, said homes that sell quickly in this market tend to have sellers who are willing to do what needs to be done quickly – even if that means cancelling poker night for a last-minute showing.
She added motivated sellers also know the market before they list – meaning they won’t waste money on things such as unnecessary pre-sale renovations.
“If you complete $60,000 worth of renovations in a neighbourhood that is not suited to that, you could end up pricing yourself out of the market,” she said.
CIR real estate agent Ali Mawani agrees that market awareness is a key factor to a quick sale. He adds having a proper home evaluation beforehand can be the difference between selling in two weeks versus two months or more.
“Listening to the market is the most important thing,” he said.
Hagerty suggests sellers work with professionals who can help showcase their properties properly. Professional photographers, for example, can offer a window into the home and provide that all-important good first impression. Videographers, meanwhile can create virtual tours that provide buyers with the ability to walk through homes without ever having to leave the couch.
Hagerty also urges her clients to work with a professional home staging company, feeling it helps the home stand out by selling a lifestyle instead of just a property. The Real Estate Staging Association recently released a study that showed staged homes can increase a home’s property value by five to 11 per cent.
Ron Sowden, CEO of home staging company DEKORA, said having a team of designers reveal the potential in a home helps sellers sell and buyers buy.
“Staged homes spend half the time on the market,” he said.
DEKORA has offices in Vancouver and Calgary. Jeff Goth, general manager of the Calgary location, said the cost of having your home staged can range from $2,000 to $20,000, with the average home usually coming in under $5,000.
For do-it-yourself stagers, Goth suggests removing family photos and personal items so that potential buyers can better imagine the space as their own.
In the end, CREB® president Cliff Stevenson suggests the current housing market will force sellers to take the time to discuss strategy with their real estate professional more in-depth than ever before.
“The concept of sitting around and waiting for someone to show your home, to write you an offer, with large gaps in time, really needs to be challenged,” he said. “You really need to be as nimble as you can – more so now than any other year. It could be the difference between you selling and not selling.”