By Deb Cherry,
Broker with Engel & Völkers Ottawa –
My grandfather thought the telephone was the dumbest invention. He would say, “If you want to talk to me, knock on my door.” Times have certainly changed. Let me explain.
Selling your home can be one of the most exciting, yet most stressful events of your life. Most likely, you are hoping for a quick sale close to your asking price so you can be done with preparing the house for showings and go back to living your life normally again. With proper timing, pricing, and strategic planning, you can achieve all of the above, and perhaps end up with a more favourable sale price than you thought possible.
When listing your home for sale, timing is everything. The most active seasons for real estate according to the Ottawa Real Estate Board are spring and fall. Spring is a time when the weather starts getting nice and buyers are actively looking to move before their summer vacations, and fall is a time when people are looking for back to school and moving before the winter. You want your home to be listed at a time when the buyers are most active, as it will receive the attention and exposure it deserves. However, if a property is presented with a well thought out plan, the results can be exceptional throughout the year.
Pricing is also an essential factor when it comes to a quick and profitable sale. It is very important to look at current listings and recent comparable sales in your neighbourhood to determine the average sale price, list-to-sell ratio, and days on market. These three indicators will provide great insight into the current state of the market, and help you determine a reasonable list price. In order to obtain maximum exposure and compete with other listing inventory, it is important that you price at market value from the beginning, rather than over-list and expect a miracle. Hope is not a strategy. With a market savvy price and a strategic plan in place, you will always attract buyers.
Once timing and pricing are determined, it is time to work on the multi-level continuous marketing plan. In order to display the property to buyers that are not physically in Ottawa, it is important to present the home online via professional photography, staging, floor plans, and virtual tours. Almost all buyers, local or otherwise, will look at listings online before deciding to see them in person, so their online presence is of utmost importance. This is the first impression the prospective buyer has of the property, so you want it to be the best impression possible.
With proper pricing and online marketing exposure, you can reach buyers locally and internationally, all through the Internet. Traditionally, spring and fall have been the most active buying markets, however, with the introduction of new technologies and online exposure, buying patterns are changing. Consumers can look online at any time, and stumble across their dream home. Before listing your house for sale, talk to a professional Realtor that can provide you with the valuable information and insights to help you come up with the best marketing plan for your home.