Question 1: Where can I invest 2-5k so I can see a return of 10-20k when it sells?
So where are the smartest, most strategic, return-centric places to spend your investment dollars if your exit strategy is a sale – whether a quick flip or a decision to sell? We can’t emphasize this enough - get consultation. Talk to the pros. Professionals know the market, where it’s heading, what buyers are seeking, and how to help those buyers tick off all of the right boxes in the most cost effective ways. The most important strategy is to base your decisions on what buyers are looking for. You must not base your choices on your own personal tastes – your likes and dislikes. A consultant will guide you through that process and keep you focused.
It’s not uncommon that $2,000 - $5,000, wisely spent, will return $10,000 - $20,000, or even more, on a home’s sale price. To help you do that, we have a list of vetted and trusted trade professionals (carpenters, roofers, plumbers, landscapers, and more) that can work wonders, while remaining cost effective.
HINT: Bring in a stager. A stager is a combination of artist and psychologist. They are experts at “curb appeal” – creating a brilliant first impression. Once the trades have worked their magic your stager will help you get the decor right, minimize clutter, add the right accents and more. The ultimate goal is to create a home where your buyers can see themselves living. A staged home will sell for up to 5% more than an un-staged one. The cost is only a couple hundred dollars, but it will returns thousands. We include staging in all our listing packages.
Question 2: What is my smartest pre-MLS strategy to ensure multiple offers?
You get one chance to be a hot new listing. One chance only. So, in a hot market it is important that you smartly, strategically, and fully capitalize on that opportunity. Unfortunately, most agents don’t start marketing a home until the day it hits the MLS®. They rely on other agents seeing the listing on the hot sheets and the showings to trickle in over the next couple of days. This typical, and wide spread, modus operandi is the antithesis of the right way to create a bidding war.
Time and experience has taught us how to do it right. We hit the ground running and we hit it hard. We market the property for the entire week leading up to the launch. But we hold back on showings. This is highly strategic - it creates pent-up demand, because when we pack the showings tightly together it allows competing buyers to see each other coming and going – resulting in urgency. You win, because the end result is often a bidding war and ultimately a higher selling price.
Question 3: How many active buyers, under contract, are you working with right now?
Our industry has shifted in the past 5 years towards “designated agency”. At the suggestion of our professional body, progressive agents have begun working with buyers in a similar fashion as they have with sellers - exclusively and under contract. That benefits you, because working with a team, that has a large number of ready-to-act buyers within an exclusive agency, gives you a much higher chance of having your agent be the one who sells your property – a win, win.
HINT: Experience shows that when a new listing is matched with an in-house, ready to act buyer, the chance of getting top dollar is significantly improved. A word of caution though -single agents will soon lose the ability to represent both sides of a transaction as the rules around the “Dual Agency” are in the process of being changed. This favors the larger team as it allows two different agents, on the same team, to represent their respective clients independently, while still taking advantage of the opportunity to match buyers and sellers in- house.
Selling your home for everything it's worth takes a significant of time, strategy, and effort. Maximize the exposure and effectiveness of your listing by working with the top names in Kelowna real estate at Vantage West Realty. If you're planning to sell in the near or distant future, let us know. We'd love to sit down with you, discuss your options, and help you get the highest return on your investment. Send us a message or give us a call at (250) 717-3133 to speak to one of our selling specialists today.Posted by AJ Hazzi on