Whenever people start a new phase in their lives, it typically involves relocating or getting a new home. Getting married, getting a job offer abroad, or starting a family are typical reasons why some people find themselves needing to sell their homes. Tina Boyle of SFGate explains that in a crowded real estate market—such as Calgary, for instance—selling a home can be rather challenging.
Selling your home when the market already is saturated with existing houses, new construction and foreclosed homes presents a financial challenge. Buyers tend to have the advantage in a crowded market because there’s more inventory to choose from. With a greater selection of housing comes added competition among sellers to attract buyers, which in turn drives prices down. In a robust housing market, the advantage typically shifts to the seller because fewer homes means less competition. In this situation, buyers may be willing to pay a higher price on a home in order to snatch it up before someone else.
To attract buyers, some sellers go all out with their home improvements and even make last-minute additions such as decks or outdoor kitchens just so their homes have that “extra something” to offer. Yet when they still find it difficult to sell even with all the efforts they have made, they often have no choice but to put off their plans or agree to lower the asking price. Some are tempted to take this route to generate funds and settle everything quickly so they can start the new chapter in their lives.
What these home sellers don’t realize is that they don’t have to carry the burden of finding a buyer all on their own. They can simply enlist the services of a real estate company, or better yet, a real estate broker with access to the Calgary Multiple Listing Service (MLS®) system. Not all brokers are required to have access to the MLS®, but those who do have access to it can enter the home seller’s information and thereby get word out that a particular property is indeed up for sale.
These days, home sellers can seek the help of a real estate broker to increase their chances of getting a good offer for their properties. As such, it is crucial to choose brokers who keep up with the latest real estate developments from such sources as the trusted Calgary Real Estate Board (CREB®).
(Info from The Five Challenges of Selling a Home, Home Guides)