If you’re selling in today’s market, what 3 things do you need to do to change your strategy for the current market?
First thing that’s more important than ever is pricing correctly from day one. You hear from friends and family or coworkers and they hear they have got bids over asking. We are seeing less of that now and if you start too high you may have a stale listing by the time you lower the price to be where the market it is. You need to work with your REALTOR® daily to make sure that you’re price is in the right category. If other homes are selling in your neighbourhood you need to pay attention to what they are listing at. You are competing against them and they are competing against you so it is important that you are priced correctly.
Second thing that matters is presentation, more than ever. The house needs to be clean, the house should be ready when we go to get pictures and ready for showings all the time because people will want to see it on short notice. We know it’s inconvenient, no one has ever had fun selling a house but having a clean house that’s ready to show and being open to showings even if they may be inconvenient at times is going to matter more now than it has in the last 3 or 4 years. Buyer’s have more options and if you’re not ready to let them see your home you are going to miss out on opportunities.
The third and most important thing is be ready for negotiations. For several years we have not had to negotiate as sellers but now sellers need to negotiate. You should have all maintenance and small things done ahead of time and be prepared for inspections again because we are starting to see those again. All of that forms part of the negotiations. It’s no longer just a number that someone throws at you and you take it. It’s about creating a product that someone wants to buy and making sure you can get the house sold at the best price and the best negotiated terms.
If you have any questions about this or anything else feel free to reach out to me.
Judy Mitchell, REALTOR®
REMAX Professionals Saint John Inc.
506-636-2711
Judy@MitchellRealty.ca