We’ve all heard the stories by now, “the house we offered on was only on the market for a day and we lost in multiples to a Toronto buyer who went over asking without conditions”, and some of you will have had this thought “What if we put our home on the market and it sells right away and we can’t find something to buy?”, or perhaps more concerning in this market, “Why isn’t our home selling?”
So how do you as buyers and sellers avoid these pitfalls, and how do we as real estate agents help you navigate through them?
We believe that almost all of your concerns can be alleviated through ongoing and honest communication combined with our extensive market knowledge and strategies. The more we know about you, your needs and wants, your concerns, and your dreams, the more effective we can be in helping to guide you through the home buying and home selling process. More specifically, if you’re a home buyer here are a few things to keep in mind while active in this market:
1. Check realtor.ca everyday and/or open the automatic emails we send your way daily
2. Try to increase your flexibility for showing times – going to see a place on your lunch hour could make the difference
3. Share as much info about what you’re looking for with us – we often hear about homes just about to hit the market and if we know what you want we can let you know about it
4. Get pre-approved for a mortgage. Talk to your mortgage agent and make sure you’re all set
5. Have a frank discussion about risk (with your spouse, or us) – there are buyers offering on houses without any conditions – no home inspection, no insurance condition, no financing – what could putting an offer in without these conditions mean? How comfortable are you with that?
6. When you find a place you love…go for it.
7. Don’t hesitate to get in touch with us if you ever have any questions or concerns – that’s what we’re here for.
If you’re a home seller in this market
1. Kingston isn’t Toronto or Vancouver. We have a very distinct market and though we often feel ripple effects from other cities there are many other factors that go into driving the Kingston market. An over-priced home, for instance, can sit on the market for a long time in Kingston…that’s not something you’re used to hearing if you’ve only read up on what the Toronto market has been doing for years (and this, of course, is changing in Toronto now too).
2. It still pays to have your home looking it’s best. You’re still selling something, after all, and buyers will pay more for a clean, updated, staged home than they typically will for one that isn’t. If money matters, and we think it almost always does, then put in the time and a little extra money and have your home looking it’s best.
3. You can’t sell a home that buyers can’t get through. Yes, showings and open houses can be a pain, but without qualified buyers walking through your home on a regular basis it’s hard to sell any home.
4. Listen to constructive feedback but take everything with a grain of salt. Feedback is one of our most valuable tools and although hearing negative comments about your home can be tough at times, acting on those comments and doing your best to negate them will only help you out.
5. Trust the process. Our 8 week marketing plan is a proven winning strategy, let us put it to work for you.
If you’re buying AND selling:
1. Be prepared. If you’re in a position where you need to find a new house before you can sell your current home your first priority is to be prepared. We can do a complete market analysis for you, have our home stager come through, talk price, prepare marketing pieces…the works…and once you’ve found the home you’d like to buy we can have yours on the market within days.
2. Have a frank discussion about risk (see number 5 in the buyers list) – selling and buying in this market can mean that we may have to think outside the box a bit when it comes to strategy and the order of operations. Make sure you understand your options and what they could mean to you and/or your family.