Home Seller 101 London Ontario
If you don’t read any further, remember these 14-words: get as many qualified buyers to see your home for sale!
How to Get More Buyers to See Your Home When It Is For Sale in London Ontario
No one could argue that a house or a condo that is priced right and the online pictures, videos and floor plans are professionally done, that home will get more eyeballs and a better chance of selling quicker and for the asking price!
Did You Know:
44% of the buyers who walked through a home viewed it online
67% of the buyers who walked through a home viewed it online and had a virtual tour.
88.6% of the buyers who walked through a home viewed it online that had floor plans and a virtual tour.
Why Will This Help You When Selling a House or a Condo?
Buyers have liked what they have seen so far, have narrowed down a few homes to see and are more prepared to write up an offer with their Realtor. For a seller, you will get fewer people tramping through your home, less nosy neighbours & tire kickers and unqualified buyers!
A few caveats:
Do not embellish your photos! I can’t add that high the amount of properties we have shown over the years where our buyer client was amazed at the discrepancy of the photo to the actual ‘real picture.’
Poor-quality videos or pictures with a cell phone are a no-no!
Price! You can have a Hollywood-produced video and pictures or crappy pictures; if the price isn’t right, the home isn’t selling!
If You Are Going To Sell Your Home In London, Ontario & Area, Don’t Do This!
One of the most significant downfalls I see when marketing your London Ontario home for sale, be it through a real estate brokerage or by a For Sale by Owner (FSBO) company, is that they do the following:
- Put a for sale sign out front or in the window with the Realtor’s picture.
- Get it on MLS or some websites.
- Take pretty pictures (or doctor them)
- Make up some fancy brochures.
- Maybe run an ad in a glossy magazine one month too late, a newspaper ad ( called tombstone ads for a reason) or a more massive ad with the Realtor’s picture larger than home!
- Do An Open House (less than 1% of houses sell because of an open house)
Think About This Instead!
Who is going to buy your home? Marketing to that group, in other words, focusing on the type of buyer your home will attract, is beneficial and works! For example, if you have a four-bedroom, two-car garage house close to good schools, you would market to families, not an empty nester or single person. Or, a one-floor, two-bedroom condo bungalow in an upscale neighbourhood you would not market to a family of 4 with two young school-age children!
Focus, narrow down, focus, focus, & clarify!
Most homebuyers view between 10-16 homes in London Ontario; they are very aware of other homes’ prices & conditions similar to yours. If they have a top-notch Realtor helping them, they can laser focus on the house that fits their client’s budget and criteria and not gets lost on the bling and shine on houses that do not match their client’s profile.
Focus your home selling strategy on buyers that are qualified financially, need a home like yours and are serious; I call them buyers with great DNA, desire, need and ability! Hire a Realtor who knows the market, is financially & emotionally stable to market your home and solve challenges before they occur and will not tell you what you want to hear!
Below are some helpful homeseller tips, money-saving ideas and home seller strategies to help you sell your home quicker, for more money and be stress-free! The tips and articles below are from my experience selling hundreds of homes successfully in London Ontario, and the area.
Here are 50 inexpensive things you can do to enhance the value of your home and sell for more and, in most cases, quicker. Time and time again, when I show homes or list them, some or all of these tips would have dramatically sped up the sale or received more money. Over the years, I have found that the little things a buyer sees may be the stumbling block in making an offer on your home. You have one chance of making an excellent first impression when a buyer walks into your home; try one or ten of these, and you will sell quicker and, in most cases, receive more money!
When you are buying or selling a home in London and South West Ontario or have been through the process, it can be daunting enough without words or phrases bantered about, and you say, “What?” Well, no more; this exhaustive list will now make the playing field level; your knowledge & better understanding of real estate will ensure that your real estate transaction will be less stressful and, in most cases, more rewarding!
Purchasing or selling a home requires more than just the buyer and seller; you’ll also need the services of a variety of home-related professionals; here are the key players in your transaction and the roles they play, and a few ideas on selecting them!
Here’s an informative guide to help you realize more moolah from your home and avoid costly repair rip-offs. Each year thousands of homeowners needlessly lose thousands of dollars when selling their hose or condo. But they don’t lose the money for reasons you might think, and they lose money because they unknowingly left it on the table, for the buyer to pocket, by failing to recognize their home’s hidden profit potential.
Those hidden profits exist in two areas. First, most homeowners never discover that particular minor, even inexpensive repairs to their existing home could generate many times their cost in additional home value. But on the other hand, other repairs and improvements can cost you dearly. It’s critical to know what repairs and improvements to spend money on and which ones to leave alone.
Second, when many savvy homeowners decide to make profitable repairs before selling, they expose themselves to some contractors’ ruthless world and potentially deceptive schemes that drive up home repair costs. It’s easy to understand how you might become overwhelmed with the whole process between not knowing what to repair for maximum profit and dealing with the world of some unscrupulous contractors.
There’s a lot of free advice out there for home sellers, that’s why it’s free or advice from well-meaning friends and relatives, while valid, may be outdated in today’s market. Some of this is tongue-in-cheek, and perhaps too blunt but hey, hopefully, you’ll remember this when it comes time to sell your house or condo in London Ontario.
What price do you choose when putting your house or condo for sale on MLS? I won’t go into the debate about “free advice,” you know what I mean, your hairdresser, co-worker, Uncle Ted, who knows everything about everything, your financial advisor, or the “Free Market Evaluation” postcard or online generalities you get bombarded with every day.
Pricing Your Home in London, Ontario & Area.
We’ve all seen the boring, everyday marketing that offers free valuations without seeing your home! Or “Free Home Valuation Reports” cards in our mailboxes or the dreaded cold call “I have a buyer interested in buying your home.” A Comparative Market Analysis is a report that provides an anticipated sales price or price range for the subject property.
How can anyone value your home accurately without physically seeing your home and doing the two to three hours of research necessary? Have you ever bought anything “at ” ballpark price’? or “general price range?” “The market price?” After advising & guiding hundreds of sellers to sell their homes over the years, every house or condo sold was a price we agreed on. Semantics aside, you deserve a price that willing, qualified buyers will pay.
A comparative market analysis (CMA) is a process Realtors use to determine the market value by comparing it to similar properties that have recently been sold and those currently listed for sale. A CMA is a crucial tool for listing Realtors as they determine the price that a seller will list their house or condo for sale, and it’s also a tool for buyers agents advising their clients to make competitive offers. Conducting accurate, consistent CMAs isn’t easy. Most Realtors are not taught this skill in their pre-license real estate classes, so many enter the business without this vital skill or lack the patience to dedicate the time to learn how to price a home correctly.
The Difference Between a Home Valuation And A CMA
You don’t have to be a rocket scientist to figure out a home valuation or get one; almost every Realtor has “Free Home Valuations” all over their messages, all you have to do and they will gladly prance and parade to your residence for the primary purpose of hoping that you will sell your home with them. In my experience, 50% of these valuations are spot on, the rest, well, telling people what they want to hear or afraid to upset a potential seller or gathering all the glamour B.S. and dumping it on you trying to impress you with style is not helping you!
My interpretation of a CMA is the following:
A Comparative Market Analysis (CMA) helps determine a property’s correct selling price. Ultimately, the best possible price the market will bear is the correct selling price.
A market analysis is divided into three categories:
1. Comparable homes that are currently for sale
2. Comparable homes that were recently sold
3. Comparable homes that failed to sell
Looking at similar homes currently offered for sale; you can assess the alternatives a serious buyer has from which to choose. You can also be sure that we are not underpricing your home.
Looking at similar homes sold in the past few months, you can see a clear picture of how the market has valued homes comparable to yours. You can also see the days on the market for these to sell. Homes that sell for the correct price sell the quickest.
Banks and other lending institutions also analyze these sales to determine how much they can lend to qualified buyers.
Looking at similar homes that failed to sell or had price reductions, you can avoid pricing at a level that would not attract buyers.
In summary, free has no value; there will always be a price to pay, now or later. I don’t know who said this, but I love it: “Pay the price once and only cry once”!
Pets and Selling Your Home
|Be “Pet Smart” When Selling Your House|
Some people don’t appreciate pets and all the sights, sounds, and smells accompanying 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.