Shop for your realtor before putting your home on the market
If you’re thinking of making a move in real estate this year, a little planning can go a long way.
It’s no secret that our market has been a little soft the past few years, so getting top dollar when you sell your home will require some planning. Planning is even more important now that buyer behaviour has shifted, especially in the last two years.
First off, buyers have become more relaxed in their search. Unlike in a balanced or seller’s market, buyers now have more time to make their decision on which property they will purchase. Good, well-priced homes can sit on the market for weeks rather than a couple of days as in a seller’s market.
Buyers are also being more discerning and demanding. They have shifted their behaviour simply because they can. A seller who has not had many showings and no offers is likely to be more flexible on price and terms during negotiations.
So, in order to get the most money for your home, you have to get the basics right, and find a way to stand out above the crowd. To do this, I’m going to recommend that you not only thoughtfully prepare your home for sale but that you get help and get good help. Most of us will pick a realtor that we know or are related to. While this strategy might work out fine, I would highly recommend interviewing a few realtors before deciding on who you want to work with.
In order to find the best person for the job, you’re going to have to do your homework. In interviewing your prospective realtors there are a few questions you will definitely want to ask. The first question I would ask a Realtor is if this is their full-time gig. I would only want a full-time professional to help me with such a large complex transaction. Second, I would want to know their entire marketing plan with samples of marketing pieces and imaging.
In today’s market, if you don’t stand out in some way, you are going to get passed over and it will cost you in your sale price. The average buyer will only view 12 homes, so your Realtor needs to have a good plan on how to get your home on that list.
I cannot overstate how important imaging is in getting your home seen. If your Realtor is not a self-study in architectural photography, they should be hiring that out to a professional rather than using their cell phone to snap some shots.
The reason that imaging is so critical is that it is in the pictures and video that we experience our emotional connection to the property. This means you may have as little as 10 to 15 seconds with a prospective buyer as they scroll through your listing to capture their attention and interest — so don’t mess this up.
There is a balance here to aim for. You could make your home gorgeous, however, that could cost way more than you will ever recoup. A skilled real estate professional can be instrumental in guiding you through what to do and what not to do to maximize your return on your efforts and investment.
Selling your home, in my opinion, is best viewed as a partnership with both you and your Realtor working together to maximize sale price. In order to have attractive pictures and for your home to show well, maybe some work is necessary. This could be something as simple as cleaning, decluttering and tweaking your staging. Sometimes painting and minor repairs may be required to optimize sale price. Your experienced Realtor will be of tremendous value here in advising what work, effort and repairs will produce the best return for your time and investment.
During your interview, you will get a feel for how capable your prospective Realtors are. A good effective Realtor requires quite the skill set. Salesmanship is only a part of it. Are they competent and experienced in negotiations, contract writing/reviewing, and pricing? Do they have the writing abilities to create compelling ads and the technical abilities to best navigate our digital world and social media platforms?
Finding and partnering with a realtor who is highly skilled in all these areas can be a bit of a challenge, however, it can make all the difference in the sale price and the sale process.