Contrary to popular belief, when selling your London Ontario home, value is determined by one thing and one thing only – what a qualified buyer is willing to pay for it. No more and no less.
Selling A Home in London Ontario
| I know that every home seller wants to realize as much money as possible when selling, that is a given. Most to almost all sellers think that the strategy of pricing their home a little higher will provide them with some wiggle room to negotiate.
In the old days (last year?) that strategy worked about 50% of the time and now, perhaps 10% of the time!
Why is this?
Home Buyers have much more information at their fingertips than ever before, one click and buyers know prices that homes have sold for on the street, in the neighbourhood, how many days it took a home to sell, they have pictures, virtual tours and even online home valuations for free!
As well, the average buyer has already been in 6-10 homes similar to yours, they compare, they get a feel, and in the end, the brutal truth of it is that a home’s value is what a ready & qualified buyer is willing to pay!
Not you, your Realtor, your neighbour or your hairdresser or Uncle Bob who knows everything!
Think about this: When a home does not sell within 2-3 weeks (in today’s market five days!), buyers and their Realtor think there is something wrong with the house. And, if you were to reduce the price, the money lost ( you can’t lose something you have never had, but that is another story) is not just the lower sales price, but all the extra interest on the mortgage,all the additional property taxes and other carrying costs that add up while the home is waiting to sell.
I call it chasing the market or it is like falling off a cliff in the night, you know you are going to hit bottom but you don’t know when! Real Estate Fact: The Seller Is Solely Responsible For How Much, and How Quickly Their Home Sells! The Buyer’s Contribution To How Quick and How Much a Seller Receives Is What A Capable Buyer Is Willing To Pay!
How Important is Price When Selling a Home in London Ontario?HOME EVALUATIONS THE EASY WAYOnce you provide the property information we will:
 I wrote a seller’s guide that sheds some light on maximizing the sale price:
If you grasp these crucial issues, you’ll know how to price and sell your home for the fastest, most profitable sale. Also, with this information, you’ll never pay too much for any home you ever buy for the rest of your life.
Where Does a Buyer Start To Look When Are Thinking About Buying a House or a Condo in London Ontario & Area?
96.7% of homes sold have been previewed by buyers on websites, either through Realtor’s sites, MLS or social media! That is a vast number and why it is incredibly imperative when putting your home for sale in London Ontario & area to have a significant web presence or three!
Below is How Home Buyers First See a Home
Knowing the above numbers and how buyers find your home among all the other houses on the market that are competing with yours, will enable you to make some wise decisions when it comes time to put your home on the market. There are many homes for sale in London Ontario and making your home stand out & get noticed is very very important. There should be virtual tours of your home compatible with the buyer’s desktop, tablet or a handheld device; an excellent professional Realtor will spare no expense to ensure your home is presented online in the best possible way. Social media, blogs and on your home on more than one website and a recognized For Sale sign will expose your home to all buyers. The pictures and other web-based presentation tools are now indeed the difference between a buyer seeing and potentially buying a home and a buyer merely deleting it from their search never to be considered again as a viable purchasing option.
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What Attracts Buyers To Your House When It Is Listed For Sale? |
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| Be very, very careful about what you think you or your Realtor knows about marketing your home; this in-depth study will demonstrate what works and what hurts getting buyers to see your home.
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| What Draws Buyers To Your Home When Listed For Sale?
Certain listing descriptions just work better than others and some amenities bring more leads than others. But what’s a winning description and what features make a property more desirable? Moreover, for a Realtor, are they sure their facts are straight? Or are they operating on market principles and beliefs that might be harming rather than helping? To answer these questions, we did an in-house analysis focusing on the number of leads each of the properties on our portal attract. Then, we conducted a survey to see if real estate agents are up to speed when it comes to what listing features and descriptions bring more buyers. Very Interesting results! |
How Can You Lose, Even When Your Home Sells? |
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| Over 99% of transactions done in real estate in London Ontario & area is by the Contingent Fee Model. Risk & reward is contingent on results, in other words, if your home sells, you and the Realtor get rewarded, if it does not sell, you both lose! That’s a fact in the real world!
The only guarantee a Realtor has is the listing agreement, which means he or she has exclusive rights and guarantees the Realtor has 30 to 90 days to sell your home. (6-month listings? I also have swamp land for sale in the desert) A professional listing Realtor has invested considerable time & money gaining experience and the skills to effectively perform his or her’s fiduciary duty to you, the home seller. You the seller, entrust the marketing and the sale of your home, which in most cases is the most significant asset you have, to the Realtor. If the effort put forth by both of you get a result (a sale) then both win, the home sells and the Realtor earns a fee. That is just average. A great Realtor in this market will get you more money, which is above average. Now, if the home does not sell, or it takes a while to sell, you both lose, not only time but money and in most cases lost opportunities! What amazes me the most is the number of home sellers who entrust their most valuable asset to just anybody,( a family friend, niece or nephew, or good old Bob, who sold your parents house 14 years ago), or the lowest price (cheapest) person who charges the lowest commission fee.
You see, you both lose whether the home sells or not! Why? How much time and money did you leave on the table? Most home sellers never know! If you want to win, work with a winner. Does the NHL, NFL OR FIFA champions have a team of excuse-makers? Did their top players work harder, train harder and want it more than the wannabes? As a famous oil rig firefighter said: “If you think a professional is expensive, wait till’ you use an amateur.” |
What’s Your Home Worth?
