Where Do Buyers Come From When Selling a House in London Ontario?


Where do house buyers learn about your home being for sale  in London Ontario?

   where do house buyers in London learn about your home?

The latest Canadian Real Estate Association (CREA) survey reports 96.7 % of homes sold have been previewed online! Yes, the MLS search is one of the first places buyers go and also why your professional lister should have a great web presence or three!         

Below is  a Breakdown of How Buyers get to Find Your Home.

  • 40%  Salesperson contact
  • 26% For Sale Sign
  • 19% Responded to a lister's blog, website but purchased different property
  • 8%  Referred by a relocation service
  • 4% Bought for a combination of reasons
  • 1% Bought advertised property from a magazine or classified ad.
  • 1% Bought open house they saw
  • 1% For Sale by Owner

 

Knowing why & how buyers find your home when there are other houses for sale competing with you and your professional lister  will enable you to make some wise decisions when it comes time to put your home on the market.


A Great Way To Ensure Your House Sells


      A Great Way To Ensure Your Home Sells in London Ontario

  Prepping and staging a house is not as hard as you may think and the effort you put in will make a huge difference in how quickly it sells and for how much.

  Every seller wants her home to sell fast and bring top dollar. Does that sound good to you? Well, it's not luck that makes that happen. It's careful planning and knowing how to professionally spruce up your home that will send home buyers scurrying for their cheque books. Here is how to prep a house or a condo and turn it into an irresistible and marketable home.

Time Required: Seven to 10 Days

preparing to sell your home

Here's How:

      1.        Disassociate Yourself With Your Home.

  • Say to yourself, "This is not my home; it is a house or a condo-- a product to be sold much like a new home builder will do it. It is bricks and mortar!
  • Make the mental decision to "let go" of your emotions and focus on the fact that soon this house will no longer be yours.
  • Picture yourself handing over the keys and envelopes containing appliance warranties to the new owners!
  • Say goodbye to every room.
  • Don't look backwards -- look toward the future.

2.            De-Personalize.
Pack up those personal photographs and family heirlooms. Buyers can't see past personal artifacts, and you don't want them to be distracted. You want buyers to imagine their own photos on the walls, and they can't do that if yours are there! You don't want to make any buyer ask, "I wonder what kind of people live in this home?" You 
want buyers to say, "I can see myself living here."

3.            De-Clutter!
People collect an amazing quantity of junk. Consider this: if you haven't used it in over a year, you probably don't need it.

  • If you don't need it, why not donate it or throw it away?
  • Remove all books from bookcases.
  • Pack up those knickknacks.
  • Clean off everything on kitchen counters.
  • Put essential items used daily in a small box that can be stored in a closet when not in use.
  • Think of this process as a head-start on the packing you will eventually need to do anyway.

4.            Rearrange Bedroom Closets and Kitchen Cabinets.
Buyers love to snoop and will open closet and cabinet doors. Think of the message it sends if items fall out! Now imagine what a buyer believes about you if she sees everything organized. It says you probably take good care of the rest of the house as well. This means:

  • Alphabetize spice jars.
  • Neatly stack dishes.
  • Turn coffee cup handles facing the same way.
  • Hang shirts together, buttoned and facing the same direction.
  • Line up shoes.

​                     organizing your condo before it sells

5.            Rent a Storage Unit. 
Almost every home shows better with less furniture. Remove pieces of furniture that block or hamper paths and walkways and put them in storage. Since your bookcases are now empty, store them. Remove extra leaves from your dining room table to make the room appear larger. Leave just enough furniture in each room to showcase the room's purpose and plenty of room to move around. You don't want buyers scratching their heads and saying, "What is this room used for?"

6.            Remove/Replace Favorite Items.
If you want to take window coverings, built-in appliances or fixtures with you, remove them now. If the chandelier in the dining room once belonged to your great grandmother, take it down. If a buyer never sees it, she won't want it. Once you tell a buyer she can't have an item, she will covet it, and it could blow your deal. Pack those items and replace them, if necessary.

         7.          Make Minor Repairs.

  • Replace cracked floor or counter tiles.
  • Patch holes in walls.
  • Fix leaky faucets.
  • Fix doors that don't close properly and kitchen drawers that jam.
  • Consider painting your walls neutral colors, especially if you have grown accustomed to purple or pink walls.
  • (Don't give buyers any reason to remember your home as "the house with the orange bathroom.")
  • Replace burned-out light bulbs.
  • If you've considered replacing a worn bedspread, do so now!

​                                    minor repairs to your condo

      8.         Make the House Sparkle!

  • Wash windows inside and out.
  • Rent a pressure washer and spray down sidewalks and exterior.
  • Clean out cobwebs.
  • Re-caulk tubs, showers and sinks.
  • Polish chrome faucets and mirrors.
  • Clean out the refrigerator.
  • Vacuum daily.
  • Wax floors.
  • Dust furniture, ceiling fan blades and light fixtures.
  • Bleach dingy grout.
  • Replace worn rugs.
  • Hang up fresh towels.
  • Bathroom towels look great fastened with ribbon and bows.
  • Clean and air out any musty smelling areas. Odors are a no-no.

  9.          Scrutinize.

  • Go outside and open your front door. Stand there. Do you want to go inside? Does the house welcome you?
  • Linger in the doorway of every single room and imagine how your house will look to a buyer.
  • Examine carefully how furniture is arranged and move pieces around until it makes sense.
  • Make sure window coverings hang level.
  • Tune in to the room's statement and its emotional pull. Does it have impact and pizzazz?
  • Does it look like nobody lives in this house? You're almost finished.

 

10.          Check Curb Appeal.

If a buyer won't get out of her Realtor’s car because she doesn't like the exterior of your home, you'll never get her inside.

  • Keep the sidewalks cleared.
  • Mow the lawn.
  • Paint faded window trim.
  • Plant yellow flowers or group flower pots together. Yellow evokes a buying emotion. Marigolds are inexpensive.
  • Trim your bushes.
  • Make sure visitors can clearly read your house number.

Emotion or Logic When Selling a Home in London Ontario?


Are There Logical & Emotional Decisions When Buying or Selling a House in London Ontario?

The majority of Canadians do not buy logically. They buy emotionally and then try to justify their purchases logically.

Logically looking to buy a house in London Ontario

In real estate, some real estate salespeople logically try to convince their clients to buy a house in London Ontario. That is why they do not sell many homes or help buyer’s buy homes! Knowing that people will get involved in a property emotionally first & then; it is up to the real estate sales representative to provide solid, logical reasons to justify the purchase or even for that matter, the sale of a home.

Everything we buy is an emotional purchase. Take the shoes you are wearing. That is a logical point however the colour & style is your emotional choice.

What about a certain brand of food when there are 5 others just like it? We buy it because of advertising, or your parents bought it. You do not logically decide which brand to buy unless you are a frugal shopper and even then, saving money is an emotional decision!

In real estate, the same thing. Everyone needs shelter of some kind, which is the logical point. The type they presently own or rent is an emotional decision. Buyers may want a home of a certain size or location or like they grew up in, that is an emotional decision. For others, it may be based on what they can afford. That may sound logical but money and emotions are linked.

So, when it comes time to list your house for sale in London Ontario, who you list your house with and at what price, are they logical or emotional decisions?  

To effectively get buyers involved in your home, your listing Realtor must help them and their real estate salesperson make your house stand out physically, emotionally and financially.

Make your house in London Stand Out

To effectively help buyers to acquire your home, your listing Realtor must eliminate those things that create fear or tension and replace them with words; images and information that will make a home buyer want to invest their hard-earned money in your home.

Selling a house in London Ontario efficiently takes more than plopping a sign on your lawn; putting it on MLS and then hoping it will sell!

Logic or emotion is your choice!


Want To Sell Your House Yourself?


 When I ask most home sellers or For Sale by Owners how the market is, I get this:

“Well”, most homeowners’ say, “I always get a lot of traffic but for some reason I don’t have a cheque in the bank yet.”

I can understand how frustrating that must be, let alone discouraging!  Knowing about a home buyer could help you market your home, and it won’t take long.

      Four Steps when selling your house                   

   You see, there are four distinct kinds of buyers out there:

1. The first kind is people making their first purchase of a home. Most first-time buyers are afraid of people selling homes because they feel those sellers have far more experience than they do. To the first-time buyer, purchasing a home is a frightening experience.

    Their Aunt Eileen says the bottom is going to fall out of real estate prices before summer; Uncle Jim tells them to keep their money in the bank in case times are tough.

  “Without the help of a third party to guide them through all the unfamiliar decisions involved in buying a property, they simply won’t make the purchase. They’re also very afraid of a For-Sale-By-Owner because they know an owner has only one property to sell them. First-time buyers don’t buy until they find a real estate expert they trust and enjoy working with.

 97.6% of first time buyers use a Realtor to help them!

2. “Buyers of the second kind are the nearby house changers. They are local people who can take their time looking for their next home. They’re only interested in the bargain of the century. They know the for-sale-by-owner isn’t paying a brokerage fee, so they automatically deduct the fee off the top when they look at the price you’ve put on your house.

  Their aim is to find a seller in trouble or someone who has under-priced their home through ignorance of its true market value. They work the FSBO hard, and there is no way they will let the seller save a dime. If they weren’t set on saving the brokerage fee for themselves, these buyers would work through a Realtor.                           

A very tough housebuyer               

3. “The third type of buyer is the INVESTOR. If you think the house changer is tough on price, you haven’t met the investor yet. Investors are especially difficult to work with if the sellers are under pressure to move fast or have any trace of a financial problem making them more vulnerable.

Investors want bargains, but they also need counseling—most of them don’t understand all the ramifications of the tax laws or have the thorough knowledge of an area’s values such as a real estate professional possesses. So most investors work through Realtors to save time and assure themselves of access to more properties.

4. OUT-OF-THE-AREA BUYERS are the fourth kind. Most of them need a home right now. Whether they are being transferred or are moving here on their own, their house hunting time is limited. Plus, they are suffering from the culture shock of moving to a new area.

 40% of real estate buyers are from out of town and they use a Realtor to find a house for them, so 4 out of 10 buyers a for sale by owner is missing!

They do not know the values here; they don’t know the neighbourhoods they can choose among; and they’re almost always unfamiliar with our entire region. Usually they fly in. Often, instead of renting a car, they depend on a Realtor they’ve been referred to for transportation.

These buyers are under heavy pressure to make a quick decision, and they need all kinds of questions answered fast--- about schools, business services, travel conditions, and so on.                                        

   They want to have their own local representative, someone they can trust to look after their interests. When they go back to wind up their affairs, they want to know they have a reliable representative here who will keep them informed and carry out their decisions by phone.

WHAT IS THE BOTTOM LINE IN ALL OF THIS?

  For most home sellers, the only buyers they have the most chance of getting an offer from are the local house changers and the investors--- the toughest kind of buyers out there. These people will not pay top dollar--- they will not even pay market price!

  Why not expose it to the people who can and will pay fair market price--- first time buyers, out of area buyers. those upsizing or downsizing?

  Why not know to whom you are going to sell to and market to them, plus, have someone discourage the tire-kickers?

  A famous quote in "The Art of War"

1.   Know both yourself & the other & you are never in danger.

2.   Know yourself but not the other & you have a 50% chance of winning.

3.   Know neither yourself nor the other & you will never win!

My favorite: After the battle, keep your helmut on!


If Your Home Did Not Sell!


  If your home has just come off the market and hasn't sold, don't be discouraged. The reason it did not sell may have nothing to do with your home or the market. In reality, your home may have been one of the more desirable properties for sale         

  expired listing London Ontario

If YOUR LISTING HAS EXPIRED AND YOU STILL WANT RESULTS, before you put your home back on the market, take a step back and review your situation.
 

  • You missed marketing opportunities that sell property in London and area. 

 

  • The marketing was not customized to your personal needs and desired outcomes.

 

  • Your Realtor was not a buyer magnet. 

  • Your features and benefits of the property were not adequately delineated and distributed to the world through an aggressive search engine optimization procedure. 

 

  • Your price needs to be adjusted. There is a delicate balance of pricing at the next level to take advantage of a better market with lower interest rates, but not too high as to be rejected by appraisers. How many times was your price adjusted up or down to make allowance for the market?

 

  • Your Realtor needed a better grasp of the comparable sales. Smaller homes have a greater price per square foot. Some improvements greatly increase prices, some reduce. Decorating causes emotion, emotion causes sales. 

 

  • Your Realtor lacked creativity.  

 

  • Showings on your home may not of been seamless.

  • You did not evolve with the market. Your home did not keep up with the market

 

  • Interest did not result into binding offers. 

 

Not all REALTORS* are the same. The relationship between you and your Brokerage can make the difference between selling your home fast, and not selling it at all.

In today’s busy world, your listing needs to stand out and be marketed. 

      How to sell your home in London ontario


You, & Only You Determine When Your Home Sells in London Ontario


    Well Researched Pricing Leads to  Your House Selling in London Ontario

   Over 94% of home buyers surf the internet to begin their home search. That means home buyers are well aware of which houses are available & what the asking price is.

                  searching for a house to buy in London Ontario

  Today’s home buyers are wiser and have access to information that was not available years ago. Industry surveys show that the average home buyer sees 10-16 homes before making a decision!

  What that means in most cases is that home buyers and their sales representative know the market for homes similar to yours. Yes, every home may be unique and have different features but to get market value for those features and uniqness is another issue all together and that is what marketing is all about.

   Knowing that, now more than ever, pricing is the key to selling a house in London Ontario and area. Some home sellers think that a higher price will give them some negotiating room. But in fact many buyers don't even look at a property that is overpriced; much less make an offer on it. This can lead to the house listing becoming tired or in the worst case scenario, not selling at all.

 The first question a home buyer asks me when showing them a house to buy is “How long has this house been on the market?”

                               an expired listing

  If it has been on the market more than 20-25 days, buyers wonder if there is something wrong with the property. After a while, the home seller then has to drop the price, taking less than they might have if they had priced it correctly to begin with.

  Homes that are well-priced attract the buyers in their price range.

  If the buyer's perception is that the property is a good buy, then the seller is positioned to receive the listing price or close to it.

  In closing, when selling a home in London Ontario and area, how thorough is your research of the real estate market? 

 How would you like to have your house sold properly, at the lowest possible fee?


Common House Seller Real Estate Myths


real estate myths

 MYTH:

 I should select the Realtor that suggests the highest list price.

 TRUTH:

  This is the oldest trick in real estate sales: Tell the seller what they want to hear, compliment the home, and agree to list it at an unrealistically high price just to get the listing. Then, after you have the listing for a few weeks, start telling the seller that they need to reduce the price.

  A good real estate listing person doesn't play any games. Sometimes the brutal truth hurts, but in the real world and in selling your home real world, you should expect the truth.

Really the Realtor

 A strong Realtor provides a well-researched market analysis to determine the true realistic price that your home will bear in today’s marketplace. The decisions of which Realtor to list with and what price to ask are two completely separate decisions.

   Consumer Reports, July 2014 stated…

“Expect the agent to suggest a price range, but don’t let that frame you in. Be aware that some devious agents will, at first, suggest a very handsome price. Then, after they have the listing and the house hasn’t sold, they’ll come back with a pitch to lower the price.”

  Never select a Realtor based on the price they suggest, rather, select your listing Realtor based on their CREDENTIALS and MARKETING PLAN, and then decide on price together!

Common Real Estate Myths That Can Hurt Home Sellers
Being around as long as I have working with home sellers, I hear some doozies, here are just a few!

Selling a Home in London & South West Ontario - There Are Two Ways


  From the early ages on to today, there are two ways to sell a home, the price approach or the traffic approach.

  Most real estate sales people have been taught and  are still being taught the price approach . You list a house at a certain price, if it doesn't sell in a month they want you to reduce the price, and then another month,  they ask you to reduce the price again and so on! Then when the price gets so low, the vultures come out.

 

                         Unhappy home seller

  The second way to sell a home is the traffic approach. In other words, expose your home to get a lot of traffic (qualified buyers). That means effective websites, blogging, social media, direct marketing, an abundance of buyers already out looking and promotions to get new qualified buyers to see your home so they can buy it.

   You can have the prettiest, fanciest and nicest home in the desert or the jungle but if nobody sees it, nothing happens.                                                                                                                       

    Selling a house in London and South West Ontario  takes more than putting a sign on your property and pretty pictures on a web site

 How well and quickly  your home sells takes a combination of the traffic approach and the reality of the market !

  The brutal truth on how to sell your house or condo quicker & and not leave any money on the table is not for everybody. 

 If I want:

  • my shoes repaired, I go to a shoe repair place
  • my car fixed, I go to a professional & qualified mechanic
  • my health cared for, I go to a doctor or a related health practioner, not the internet or watch medical TV shows or ask Dr. Google.

If you want real estate advice & guidance, who do you go to? 

  • how would you know if they are any good?
  • how would you know if they can get the results you would like?
  • how would you know if they can negotiate for you and think about your bottom line and not theirs?
  • how would you know that well meaning and caring family members who are giving you advice, co-workers or friends are misinformed?
  • how would you know that what your neigbour said they sold their house for is correct?

 


Preparing Your Home For Sale in London Ontario


First impressions make a significant impact on a buyer's decision-making process! 

Once your home goes on the market, it becomes a product. These tips and ideas allow you to highlight the best of your home and de-emphasize its flaws. It's not about decorating, but actually turning your home into a model, to appeal to the broadest range of prospective buyers. The goal is to make people feel like they could live there, and the best way to do this is to "neutralize" the surroundings.

Bathroom02.jpg  Bedroom01.jpg

Try out these helpful home selling tips  from stagers and real estate pros—things you can do for little or no expense—to put a home in prime showing shape and my experience tells me, along with my clients, you can get back $2.00 for every $1.00 you spend!

 How's that for a great investment?                                                        

  • Clear out closets and clutter—give away or pack up toys, linens, and small kitchen appliances to store offsite. Buyers are also forgiving of storage boxes neatly tucked away in a garage or basement.
  • Focus most on the most visible areas—the foyer, kitchen, living room, master bedroom, and family room.
  • De-personalize the home by removing photos, mementos, and dated items.
  • Use plants in colorful pots or inexpensive wicker baskets to fill in empty spaces.
  • Look to home catalogs for little details on beautifying the home. For instance, group books, pictures, and objets d’art appealingly on bookcases.
  • Try angling one or two pieces of furniture slightly and move furniture 4 inches to 6 inches from the wall to create more interesting room spaces.
  • Put away large collections— porcelains, plates, and so on.
  • Remove valuables, prescription medicine, collectibles, and breakables.
  • Trim trees, prune shrubs, and make sure the lawn is mowed and watered regularly.
  • In summer, turn on the sprinklers for five minutes, 30 minutes before the open house. It makes the lawn and driveway sparkle.
  • Refrain from cooking anything that leaves a distinctive odor, such as fish, garlic, or cabbage.
  • Hire a professional service to clean the home, including the carpets and the windows.
  • Set the dining room table with attractive linens, dishes, and stemware.
  • Arrange fresh or silk flowers throughout the home.
  • A mirror in a pretty frame can make a small room feel more open.
  • Use as much natural light as possible. Add extra lamps in dark rooms or corners.
  • Make functional repairs—fix dripping faucets, sticking doors, and broken fences.
  • Bring in another pair of eyes—even if it’s not a professional. The person may see problems you  have missed.

 

                    Get 50 more of these inexpensive tips and ideas to get your home sold!

    


Pets and Selling Your Home


Be “Pet Smart” When Selling Your House
What about Pets when Selling Your Home?


Some people just don’t appreciate pets, and all the sights, sounds, and smells that go with them. So, to keep potential buyers focused on your house, and not your pet, follow these simple tips:

  • Wash and put away the pet toys and food bowls.
  • Refresh the kitty litter.
  • Check your yard for doggie doo.
  • Use room or carpet deodorizer.
  • Send your pet on vacation during showings.

You love your pet. But it’s your house that you’re trying to sell.

 


Why Some Houses in London Ontario Take Longer to Sell.


   I keep track of houses in London that are for sale, how long it takes to sell( days on the market) and what percentage of the sale price to the asking price. What is the reason why some houses sell for 98%-99% of the asking price and are sold within 26 days and others receive 95-96% of the asking price, are on the market an average 83 days or do not sell at all?

 When a house is not priced correctly the first day it goes on the market and if the price is too high, this is usually what happens:

  • LOW Final Sales Price - An overpriced house, still on the market beyond the average selling time, usually leads to a lower selling price. To sell it, you will have to reduce the price, sometimes several times. In the end,you’ll likely get less than if it had been properly priced at the start.
  • Limited Buyers - Potential buyers may not view your house, because it would be out of their buying range.
  • Limited Showings - Real estate agents may be reluctant to view your house or bring their clients because the listing is stale and buyers wonder what is wrong with the place.
  • Wasted Time and Energy - For example, a buyer who gets a bank appraisal on an overpriced house will quickly determine that they've wasted their time because the appraisal will not support the inflated sales price.

 

                       Weeks on Market For a House to Sell

Well kept houses in London Ontario,  properly priced when you first list it will always get you a quicker sale and  97% of the time the best price! 


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