b-LOG: The Process of Real Estate. You Never Know When
We are often asked to give a guarantee or an assurance of when we think a home will be sold. Despite the promise that we will not be held 100% accountable, when push comes to shove, even with our diplomatic immunity, we are still held to our word.
What we can tell a homeowner is that based on our experience, current market atmosphere and supply/demand numbers, all signs point toward a sale price in the area of “x”, likely selling within time period “y”. This is said with the caveat that we don’t know who the buyer is, what their situation is nor what their motivation will be.
What we can’t tell a homeowner is that their home will sell for “x” and will sell within “y” time period. Can a grocery store predict what a $4.99 box of cereal will sell for? In Canada, absolutely, yes. But can a grocery store guarantee what their monthly sales figures will look like? Not a chance. They can however, predict that sales will be in the range of “x” based on pricing, promotions and market factors.
The key to this concept though is that both the Realtor and home owner can do certain things in order to narrow down the predictable range of “x” (price) and speed of the “y” (days on market). Prior to selling, consult with your Realtor. What are the identifiable items that can be enhanced and improved in order to increase the appeal of the property. Prioritize them. Work on them. And then the answer to the how much and when questions is a lot easier to nail down.
Selling your home is a business. Getting an approach and plan together is a huge first step in helping to predict the success and ultimate sale price of your property.
To get your plan together, contact us at any time.
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