We would all want our property to sell within 24 hours and get its full value after installing the sign for sale. In reality, few homes sell for their full value in such a short period of time. So how long does it really take to reach your goals?
HOW TO SELL AND GET FULL VALUE QUICKLY?
The secret to selling a house quickly and getting the full price is to showcase it, set a competitive selling price and give it maximum visibility.
DETERMINING FACTORS
Several factors influence THE PRICE you will get and the TIME it will take to sell your home. These include the economy, interest rates, the sector, the type of building, the condition of the building, the marketing strategy and the asking price.
Obviously, in a capitalist economy, the law of supply and demand is the basis of everything. The more buyers there are for the same product, the more upward pressure there will be on the price. It is the highest bidder who will get the much coveted property.
Conversely, when there are several properties similar to yours available on the market and there are fewer buyers, it is the seller who will offer the property with the most advantages at the best price who will find a buyer.
It is therefore very important to identify current market trends from the outset and to know your competition in order to establish a marketing strategy that will work. To get action, create excitement and get the most out of your product, you must position your product strategically in the market.
The methods you will use to attract buyers and your strategic positioning in relation to your competition are determining factors.
The same principle applies to any product you want to sell. For example, you are looking for a car. You will either have the option to buy new or used. Let’s say you decide to opt for a used car.
You will first look for cars that match the benefits and features that meet your needs and budget. You’ll probably go to the best known websites, where you have the most choices to make a pre-selection. You will eliminate those that appear to be in poor condition or are too expensive compared to the competition. Finally, you will go to those that offer the best quality/price ratio according to your research findings.
You will then begin negotiations with the seller who seems to offer the best product at the best price. If the price is competitive, you will buy it without negotiating too much for fear of losing it to another buyer. If you are in competition, you will even go so far as to offer more than the asking price so as not to miss the opportunity. If the price is too high for the condition of the vehicle, you will negotiate until the seller agrees to sell at the actual market value. If the seller is unreasonable, you will stop negotiating and consider your other options. It’s exactly the same for the sale of real estate.
Setting an attractive selling price at the outset will increase demand and allow you to obtain the full value of your property within a reasonable period of time. One of the essential conditions for the success of this strategy is that your property be seen by as many qualified buyers as possible. Obviously, no one can consider buying a property they don’t know exists.
It is therefore imperative that your property be prominently featured in the media that buyers consult. They are no longer satisfied with a few lines and a picture. They now want to quickly access a multitude of properties with specific pre-determined criteria and visualize the properties before they even move. If they don’t like what they see or if the asking price is too high compared to the competition, you are automatically eliminated.
THE TIME, EFFORT AND QUALITIES REQUIRED TO SUCCEED!
Selling a home takes a lot more time, effort, energy and expertise than you might think at first glance. The seller will have to invest many hours and sacrifice some of his free time to achieve the objective. This is a full-time occupation.
First of all, the seller must prepare the house: make repairs, get rid of old stuff, clean and paint if necessary. In short, making it attractive to buyers.
He will take care of all aspects of the marketing: evaluation, writing the description sheet, advertising, photos and videos. He will have to synchronize visits, receive potential buyers and return all calls quickly so as not to lose opportunities.
He must be very perceptive and sniff out bargain hunters and unqualified buyers from the outset before showing them around or committing to a transaction.
Negotiating promises to purchase and counter-proposals, if any, will require legal knowledge, negotiating skills and a great deal of tact on the part of the seller. Buyers are not necessarily willing to pay the asking price up front. Negotiation is an art.
Do you have an accepted offer? The work isn’t done yet! You will now have to have all the conditions of the promise to purchase lifted.
First, there will be an inspection of your building, which in most cases will reveal minor or major anomalies. Very often, buyers take advantage of the situation to renegotiate the sale price downwards or simply make the promise to purchase null and void.
It is then the turn of the chartered appraiser of your buyer’s mortgage lender to establish the fair market value of your property. If the appraisal is lower than the offered price, financing will be refused. If the appraisal report shows that your property has been sold at fair market value, the loan application should be accepted, if and only if the buyer demonstrates that he has the financial capacity to make the payments and a good credit history.
If everything went well and all conditions are met, you will have to go to the buyer’s notary to deposit your property titles. But beware, it’s not sold yet!
Even bona fide sellers and buyers make certain errors and omissions due to their lack of experience, which in some cases can lead to additional delays or cancellation of the sale. For example, a non-conforming certificate of location, a title defect, or the withdrawal of the buyer who bought your buyer’s home are factors that can complicate the finalization of the sale.
Finally, when you consider the time, energy and expertise required to sell a property, it is more advantageous for you to entrust this work to an experienced broker and sell quickly and peacefully. It should be noted that this is one of your most important assets and nothing should be left to chance.
We have powerful marketing tools, a bank of qualified buyers, a lot of experience and a network of contacts and seasoned professionals who will intervene when needed.
Usually, the main reason why sellers go without the services of a professional broker is commission. But come to think of it, what really matters in the end is that you sold within a reasonable time frame and that you get the maximum net cash in your pocket. That’s exactly what we do for our clients and that’s what we can do for you right now.
If you think you need a professional to help you, don’t hesitate to contact us. It will be our pleasure to answer all your questions.
