Selling your home in a buyer’s market can stressful. But if you can manage your expectations and implement these tips, it can make make it a lot easier. Michael Beatch & Jim Christie offer their advice on how navigate this market when you are selling.
- Have the expectation that your home may take longer to sell. It’s probably not going to fly off the shelf unless you are in certain pockets of the city, which your agent will advise on. Average days on market is currently exceeding 45 days in most Regina neighbourhoods.
- Your home needs to be looking it’s best. We like to use the analogy that your home is on the most important interview and it needs to be in the best repair, clutter-free, spotless, and if possible, it needs to have some WOW FACTOR.
- Pricing your home has never been so critical. It’s not the type of market where you can “test” out a price or try for that extra $5,000. You are up against a lot of competition and every cent matters when you are compared to others.
- If your home has been sitting for awhile with very few showings, don’t be afraid of reducing the price. Getting it down to the correct market value could get your home in front of a whole new set of buyers who thought that your home was once out of reach. These reductions need to be noticeable.
- When you do get an offer on the table, do everything you can to keep the negotiations rolling. Don’t be so quick to dismiss if something in the offer is not ideal. Unless it’s absolutely horrific, do you best to find some middle ground and have your agent advise on some tactics to solidify the deal.