Three action items for sellers in a buyer's market
There are an awful lot of houses for sale in Airdrie. From new construction to older bungalows in the centre of town. It’s a huge buyer’s market, which means house shoppers can take their time, weigh their options and ask for the moon when it comes to negotiations.
Why would they choose your home over many others just like it in Airdrie?
While you can’t control what the buyer wants in a home, you can control how your home looks, how quickly a buyer can get into it. Here are just three things you can do to keep competitive and make your home the most attractive it can be. (Hint – it’s not always about good looks).
First – get a home inspection
One of the standard conditions of sale is a home inspection. In the old days of more buyers than inventory (a seller’s market) buyers would often waive the home inspection to make things easier for the seller, so their offer would go to the top of the heap. The exact opposite now is true. If you have done your own inspection, undertaken by an objective, third party who will give a completely honest and legitimate report, you can have that ready so the buyer doesn’t have the expense of hiring their own home inspection firm. That will also save time should a potential buyer want quick possession of your home.
Furthermore, a home inspection will reveal issues in your home that you may not have been aware of. Roof leak, chimney cleaning, hidden leaks or other issues that are on the verge of being problematic are repairs or maintenance that you can take care of before you even list your home.
If something needs repairing or upgrading and it’s beyond your financial capability to do it, at least you can adjust your price or inform the buyer of the potential issue. Getting a written estimate of repair or replacement costs would be beneficial. It adds an element of trust between you the seller and the buyer.
Secondly – organize your documents
One of the items that sellers frequently have to scramble to find is the Real Property Report. This survey of the buildings, land, fences and encroachments is a legal document, prepared by a survey company and stamped with the City of Airdrie’s approval. If your home is relatively new, you probably have a copy of this report with your land title and mortgage documents. Hopefully, you know where these are and if you don’t, now is the time to find them! If you can’t find your RPR or your home is so old you don’t even have one, get one done as soon as possible. They can cost upwards of $1,000.00. Spend the money now or spend the money in a panic when a conditional sale is looming over your heard.
Other documents you should collate are the manuals and warranties for all the items that will be included in the sale of your home, such as appliances, your furnace and deluxe plumbing fixtures. Whether they’re in a handy drawer or in a binder or box, make sure your realtor knows where these documents are so they can point them out to buyers. Knowing that you’re organized and thoughtful can put a potential buyer’s mind at ease, knowing they could be purchasing a home that has been looked after. It’s all about optics!
Third – maximize curb appeal and cut the clutter
Right from the time your buyers pull up in front of your property, you want to send a positive message and get them nodding their heads in approval. You don’t need to spend millions but you should do a few simple things like keep the grass cut, well-trimmed along the edges and green (water and fertilizer). In the winter remove all snow and ice from sidewalks and the driveway. You can keep a potted plant on the front step, preferably something evergreen. Does your front door need to be cleaned or painted? Does the frame around the living room window need to be cleaned or painted and just how clean is your living window? You might like to update the house numbers so they look more contemporary or change out your mailbox. (brass is very outdated).
Open your blinds on windows facing the street so your home looks inviting. And speaking of the inside of your home, this is where it gets fun. You want people to imagine themselves living in this house. That means putting away all your special stuff. Knick knacks, family pictures, toys – anything that you think would not belong if your home were a show home. That’s the look you’re going for – a tastefully decorated and clutter-free show home. Next to price, this is probably the number one challenge that realtors have with clients. How much stuff do I really have to put away, and hey, we have to live here too you know. It’s not convenient, but it is necessary. In the bathroom, put away toothbrushes and razors, blow-dryers and make-up bags. Don’t leave robes on the back of the door. In the bedroom, keep bedside tables and dressers clear of everything personal. Can you actually park your car in your garage? What stuff do you have in there?
A well-presented home can be the difference when it comes to negotiating a price. If that means putting some of your possessions in storage, so be it.