Friday, August 28, 2009


As a seller you must be properly informed about the area market prices. Just because your neighbor got $$$ (which is the biggest cause for overpricing in my opinion) does not mean your house holds the same value. It could be worth more!

The second biggest cause for overpricing is "my family told me what it's worth". That's a shame because you are being given the wrong advice from non-experienced people . I had one the other day say, "my daughter told me....." Their advice was $100,000 over price compared to what has sold in the area within the past year, and they were using comparisons that were totally different/new/much superior features. It hasn't listed yet, but if it does at that price, then the person listing it did not investigate.

As a registered real estate representative, I am trained and experienced in pricing a home correctly. When you don't listen to what an experienced person tells you, you run the risk of over marketing (on the market too long) the home which creates a stigma thus significantly lowering the bottom dollar that you may end up getting.

For example if I told you that your house should list at 239,000 and you decide to list it at $249,000 because you fell into the "249" trap (someone told you that is what it is worth) the chances of a good and fast sale become marginal. If you list at the "market" price, it should sell if it shows well. The biggest reason homes sit for a long time is price. It doesn't matter if it needs a roof, if it's priced to high, it won't sell. If it's priced with the common sense that it does need a roof a potential buyer might agree. If the basement leaks, or it needs new windows, remember to price it accordingly.

Here is another tip....if you are getting more than one valuation on your home, don't tell any of the representatives that you are getting more than one opinion. This way you can be assured of consistent facts/figures.

The third biggest reason a home sits for a long time is marketing. Just a sign will not normally sell your home.(unless you are one of the lucky ones that gets that once in awhile driveby sale) There needs to be a combination of newsprint, open houses, and thorough marketing to get the job done.

"REAL" virtual tours help. Virtual meaning the feeling that you are there. Most tours just provide strategic pictures that spin around the room. My virtual tours are actual video taken of the home with narration of each room and it's features. Those are uploaded to my many websites and social media such as Youtube and House Hunting networks, which capture much more audience than a simple sign and ad in the local paper. If you have a nice cottage to sell, how is an ad in the local paper going to sell need to reach an audience of people that come from areas to cottage here such as the Tri-city area, or Toronto.

When you are ready to list, give Jason Steele a call, you will be glad you did! Have a look at the testimonials on my website, you will see what my clients really think!

1 comment:

Anonymous said...

I love the ones that list with one company, then don't listen about price, stagging etc. House doesn't sell, then they list with another company and substantially drop the price and paint/clean/de-clutter and the house sells...was it the company, or the magic of pricing properly to begin with.