The following list is compiled from our nearly 50 years combined of full-time, all-in, lets-do-this years as Realtors. And they're in no particular order.
10. Everyone has a different approach to negotiating. Just because an offer or counter-offer doesn’t match with your expectations, doesn’t mean an agreement isn’t possible. Patience is the key.
9. Staging and Pre-Listing Preparation (note capitalized first letters to add importance) is hugely important in today’s visual world. A properly prepared and beautifully marketed home will sell for more. Often multiple amounts over any money that is spent during this period.
8. Not all homes are ‘incredible’ and that’s ok. The job of any Realtor is to best position anyhome for the market regardless of its size, shape, condition, location or otherwise.
7. Marketing matters. Massively. Before you hire a Realtor to list your home, you must (must) ask a number of questions and do a number of things. One of those is to pop online to see the quality of their work. Are the photos professional? Did they take more than 83 seconds to write the home's description write-up on Realtor.ca? Are they wearing their marketing hat? Or are they more of a ‘put a sign in the yard and hope for the best’ type.
6. The market is always changing. Knowing how to assess the current supply & demand landscape is crucial to best positioning your home in TODAY’S market. That’s why holding back offers in early 2022 vs. 2023 may result in a different outcome.
5. No one can tell you what your home will sell for no matter what their tagline is. We can set things up to best position your home but there is no way to guarantee anything. As long as humans are involved at least. That is why Truth #9 on this list is so important…it is the road to reasonable expectations.
4. Sometimes, strange stuff happens. As a buyer, there will be times when everything is going according to plan and you find your perfect home. Just as you submit your offer you find out you’re in competition with someone willing to pay $30,000 over asking. Or you have an offer in conditional on the sale of your home but another offer comes in that bumps you. Timing can often appear suspicious but there are countless routes the process can take until you are done and sold firm. So, be patient, rely on your Realtor and take deep breaths. And be patient.
3. Your listing should never go on Realtor.ca without quality photos. Ever. It's hard to believe this even needs to be said but we still see some of the worst photos pop up on listings. Yes, mobile phones have come a long way in image quality but they still don't populate properly with the size parameters that our system requires. Photos end up looking cut-off, close up and overall just look unprofessional. It becomes evident when a listing hasn't used professional photography. 90% of prospective buyers conduct their own initial searches online before reaching out to their Realtor to set up an appointment to view, so A+ online presentation is crucial in appealing to more interested buyers.
2. The Niagara Region has changed. We are no longer the silo at the end of the QEW. We are a part of the Golden Horseshoe. We are a destination both for travellers and people looking to live the Niagara lifestyle. As a result, the pool of potential parties for the purchase or sale of virtually any property has changed.
1. Don’t let the little things matter. Unless they’re little/big things. If the buyers want your 4-year old gazebo with the new cover, let them have it. If the house you like has a fuscia living room, buy it. Then hire a painter. IF YOUR REALTOR WRITES IN THE AD COPY IN ALL CAPS, CALL THEM AND ASK THEM TO STOP. If the signback comes back over $500, play along and let them have their win. The other little/big things do matter. That’s for a whole other bLOG & conversation.
Of course, there are many other things to consider but this list is a reasonable start.
Questions on the market? Your home? Real estate in general? Reach out anytime!