Here are two more common errors that you must avoid in order to get a higher price when selling your home in a softening real estate market.
- Not willing to make cosmetic improvements before selling
“Let the Buyer fix that.” The time to make cosmetics improvements is before you have had your home on the market for three months and have not received any offers. Buyers generally have a preconceived idea of the condition of the home they would like to buy.
The closer your home is to the buyer’s image, the more they will pay for your home. You must make every effort to meet their expectations and make your home look as “Martha Stewartish” as possible. Buyers will reward you handsomely for it.
Cosmetic improvements to your home are by far the best highest-return-investment you can make before selling. For example, if your home is in need of an entire coat of paint at a cost of $3,000, by having it painted you are very likely to receive $4000 to $12,000 dollars or more from the buyers.
Remember, we buy emotionally and proceed to justify our decision logically after we have bought.
- Taking complete control of the sale of your home
Would you tell your surgeon where to make the incision just before the operation? Would you advice your lawyer about the tactics she should use when she goes to court in your defense? You hired an agent because you believe she is knowledgeable, professional and capable of doing a better job than you would. Let your agent do her job and follow her advice.
If you do not have complete confidence in your agent’s abilities, hire another agent. If you find that you are still unable to let go, you should first try the For Sale by Owner route. In most cases, after a few weeks you will be glad you have hired a professional to represent your interests.
Look for more great tips in a slowing toronto market on Part Three.
{ 2 comments… read them below or add one }
This is what went missing in the first part. I am glad you finished it
. All in all these two points are more important than many people admitt, even when selling condos, not just houses. I specialize in Toronto condos and the apperance of the appartment is just as important as the location. So what if it`s in the centre of the town or at some prestigeous location? So what if the price is reasonable? Many people will still go look elsewhere just because they don`t like the cracked wall paint, or the scratched up doors. Sure, they won`t expect the Hilton hotel, but a coat of paint does wonders.
Cheers
Elli
Appreciate your comments, Elli. It certainly is appropriate for the condo market also!.
Rosalin
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