As Realtors, we see it all – from well presented and marketed homes to those that well…aren’t. The sad truth is that while in the COVID Crazy market, anything Sold, today’s real estate market is a much different animal. In Peterborough, the average number of days to sell a home have been climbing steadily to well over a month. What does this mean to you if you’re considering selling? Simple. You will need to represent the best value in your neighbourhood in order to attract serious buyers. Note – I said value, not the cheapest price. While lower priced homes are selling faster, this isn’t always the case. Cadillac’s cost more than KIA’s ands yet both sell. The key is that a Cadillac Buyer has different expectations than the KIA buyer – both will get you to the corner store for a bag of milk but it’s a different experience. Understanding buyer expectations is absolutely critical to establish your homes value proposition.
So, I’d like to share 3 common mistakes that I think all sellers should be aware of as they can dramatically affect the buying experience.
- Painting is too expensive. While painting your home comes at an expense, if you’ve lived in your home for more than 10 years, you can’t afford NOT To paint. A fresh coat of paint in s the simplest, most affordable way to make a big impact on the presentation of your home. Neutral colours present a blank canvas for the buyer to imagine their furniture in your home. My marketing services include a “Ready for Market” staging consultation where we discuss paint and can even present some colour ideas for consideration. I can recommend affordable, local Peterborough professionals who can quote painting your home. Even if it’s just the living room, kitchen and primary bedroom, fresh paint is a game changer.
- Decluttering isn’t necessary. Wrong. We are selling square footage when we are presenting your home. A decluttered home looks more inviting and larger, enabling buyers to get a better feel for your layout. After all, you’re moving and you’ll have to deal with those closets or the piano soon enough, so why not tackle them now and showcase your home to its best potential. In Peterborough, consider Vinnie’s as a great place to take unwanted items – the $ raised stays in the community. Chances are the buyers are looking at your home as they’ve outgrown their home and/or it lacks storage. nothing screams lack of storage than cluttered closets and kitchen cupboards.
- Price high and if it doesn’t sell, drop the price. This is probably the number one mistake many sellers make when selling their home. it’s an easy mistake as the market is constantly evolving and it’s tough to stay on top on the trends. Everyone wants to maximize the sale proceeds of their home – that’s a given and what we’re trained to do. . But it’s even tougher as a Peterborough Realtor to share honest information that might not necessarily be the news sellers want to hear. But if you really want to sell, pricing your home to meet the current market is the key to success. A new listing will get the most amount of interest as a new listing. Buyers who have been searching the Peterborough market are watching for new listings, so this is your chance to leverage that interest. A home that is over-priced will sit for weeks frustrating sellers until they eventually concede to a price reduction. However, it will need to be significant to draw previous buyers back (if they haven’t already purchased) as well as get new buyers attention. Many buyers will think and ask “what’s wrong with the place as it hasn’t sold?”, a notion we Realtors call “stigma”, and something that can be really difficult to overcome. You hire a Realtor to provide professional service. That starts with integrity and a Realtor’s willingness to be honest and not simply tell you want you want to hear but rather… what you NEED to hear.
If you’d like to experience Real Estate Done Differently…call/text or email me. I’d be thrilled to get to work and get your home SOLD. You can reach me on my cell at 705.933.9191. All calls are strictly confidential.
*Not intended to solicit those under contract.
