Wright Realty
Real Estate agents specializing in residential / rural homes / housing, commercial listings, farm properties in Moncton New Brunswick Canada
Wright Realty Serving Moncton New Brunswick and Surrounding areas
Real Estate agents specializing in residential / rural homes / housing, commercial listings, farm properties in Moncton New Brunswick Canada Wright Realty Serving Moncton New Brunswick and Surrounding areas
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Selling tips: Pricing - It is imperative that when you initially list your property it is at current market value or very close to it. ( see pyramid figure below ). Statistics show that a property listed within the current market value will attract 60% of buyers whereas a property listed 15% above will attract only 10% of the buyers, conversely a property listed 15% below will attract 90% of buyers. Just like used cars placed on a dealers lot for sale at a higher than market value, resulting in the vehicle sitting for weeks or even months ( a situation known as " lot rot " in the industry ) people suspect that there is a problem with the product even if there can be none seen and will not even take the time to nvestigate. The same is true with homes and properties price initially two high - the buyers wonder what is wrong with it because it may stay on the market for a longer than usual time. - Price it right initially.
How to establish the " right " price ? - Evaluate your home / property based on it's location, size and condition Take note of the selling price of homes recently sold in your area taking into account condition, size and location. Try to establish the best selling features of your home compared to others that have sold in your area. Decide on what interior and exterior work you will need to do in order to improve the appeal of your home to perspective buyers. Be objective and try to evaluate what you are offering impartially. Seek the advice and services of a licensed Realtor. Ask for a Comparative Market Analysis ( in most cases this will be supplied by your Realtor free ). Consider all of the above mentioned facts before setting your selling price, remember that if you want a quick sale list at the lower side of market value. The first 30 days on the market are critical, this is the period you will get the best price for your property. Disclosing material facts about you home or property - It is in your interests to disclose any material facts as to the condition of your home or the property you are selling. Examples of material facts are problems with your septic system, water leaks in your basement, roof leaks etc. If you do not disclose this type of problem the purchasers may sue you for damages, cost of repairs and legal costs which will in most cases cost you many times the cost of the repairs needed. If you repair these items before you sell you will have complete control as to what is done and by who. Ways to protect yourself are to have a licensed home inspector inspect the property and buildings and to fill out a property disclosure. Ask you agent if he / she uses property disclosures - when filling out this document - be honest. What do we repair, paint or update prior to listing ? : First impressions of the buyer is very important, if they do not like what they see when they drive up to the property or enter the front door it is very unlikley that they will be interested in making an offer. For example, if the lawn is not cut, garbage is laying around the yard, paint is peeling off the siding, gyprock has holes in it the perspective buyer will most likely walk away. Start with the simple most cost effect items. Paint the exterior and interior of the home if needed. Clean the carpets, replace areas of flooring that show wear, clean windows, drapes etc. Try to present a home that appears to need little or no work befoe the purchasers move in. Do not however embark on major renovations as statistically you will not recover all money spent on these major renovations, stick to cleanups, painting and generally tidy up. Remove as much " clutter " as possible. The listing write up : Review the listing write up posted on the internet ( MLS.CA ), any web site the Realtor may have, adverts in the paper, Real Estate Guide and the MLS Catalogues. If you have priced your home right and you are not getting the interest or showings you think you should be, take a look at what your Realtor has put in the above mentioned locations. Here is an example of advertising copy that was scarring away potential purchasers on a recently listed property - Bring your 12 foot boat and fishing gear. The local river backed up into a small area at the rear of the property during spring run off, this occured for at most a few weeks during spring runoff. The rest of the year the water was about 1/4 of a mile away. There was no boating or fishing potential from the property and therefore no real selling plus from the river. Potential purchasers with children would not consider the property and purchasers looking for boating and fishing potential were not interested either. The add was re-written, at the request of the Vendors, removing the reference to boating and fishing, resulting in immediate interest and a fast sale. The potential purchasers were made aware of the seasonal runoff situation on the property disclosure. Realtors should list the strong points of your listing e.g. new french doors, renovated interior, recently re-roofed etc. in their advertising. Another major set back in selling your home may be the photo taken by your realtor - example : a recently listed home was situated on the side of a gently sloping lot. The Realtor took his photo from the road and placed it in his advertising - problem : due to the fact that the bulk of the building was at the rear of the home and due to the design and sloping lot, the listing appeared to be a very small cottage, the Vendor took and supplied the Realtor with side and rear photos which were placed on the MLS.CA system and in other advertising, the result was that the full size and potential of the listing were visible, resulting in greatly increased interest and showings. What to do when your Realtor shows your property : It may seem logical to you, the Vendor, to be present at showings. You know your home and property better than anyone, the weaknesses and strengths - right ! Purchasers may be looking at numerous listings, they do not have time to talk with each and every Vendor. Further more they like to talk with their Realtor and amongst themselves without the Vendor listening in. If you are looking on they may be embarrassed to look in your closets, under the building, at your master bedroom etc. Buyers need space to fully evaluate what you are offering. Your agent knows when to talk and when to let the buyers look and mentally place their furnature in your home. Comments made by purchasers about your home may be upsetting to you, what you like about you home may not be ultimately the reason a purchaser will make you an offer. If you are not there, buyers may state their objections / observations to which your Realtor can respond positively. If the house is small the more people present during the showing, the more crowded and smaller the home will appear. Your are paying for professional help when you employ the services of a Realtor, let him/ her earn their commission and gain from their professional approach and experience.
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Contact Information: Office address / Ivan R. Wright - Broker / Owner Wright Realty #3 York Street, Rexton New Brunswick, Canada E4W 2G7 Canada. Phone 506-870-8573, 506-863-9908 ( Cellular ) Fax 506-870-8368 Email : irwright@wrightreaty.biz
This site is designed and maintained by Ivan R. Wright Copyright © 2002 [The Wright Realtors®]. All rights reserved.
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