Thinking about selling your home? You are not alone! Amid all the stock market turmoil, many more people than anticipated are contemplating making a move within the next 6-12 months. Reasons will vary but the majority of these Sellers are either going to try and better position themselves financially by reducing both personal and mortgage debt, or consider making a change to better fit their particular lifestyle (ie. Condo).
With our unprecedented market growth and such a robust economy that we have all become so accustomed to over the last several years, it is becoming evident to many that an adjustment to our entire economy is coming. If there was ever a time to make a decision to reduce debt, now is really the time to be proactive.
When planning to sell a home, it is always recommended that you start by obtaining sound advice from a knowledgeable and experienced realtor. Your realtor will start by providing you with their opinion of the current market value of your home by reviewing all recent sales and current active listings in your area, making adjustments for size, location, features and time.
Once a value has been determined for your home, your agent will likely review their marketing and sales plan with you. This plan should always be detailed, up front and in writing, so that there are no misunderstandings of what is to take place and when, during the course of your listing period. It should also summarize the timelines of all marketing activities that are to occur with your home.
When the decision to move has been made, it's best to call in your realtor right away to discuss the steps in how to properly prepare your home for its introduction to the market. As you only get one chance at a first impression, you will want your home to look and show at its very best.
Most agents can immediately identify an overpriced listing and that is not the impression that you want your home to make. It is also very important that you feel comfortable with this person as you will be placing this individual in a position of trust and will be in very close contact for the next 3-6 months.
With respect to your plans on buying another home, your agent will need to listen carefully to you to identify what your future needs are going to be such as schools, transportation, amenities, type of home, price and preferred location, etc. These are all pieces to the puzzle and as timing is everything; your agent needs to know this up front to notify you of any potential property matches. It also helps the agent to try and coordinate your closing dates so that all goes smoothly for you.
Your realtors experience is crucial when selling a home and you will need every advantage available in such a competitive environment. Good planning makes good sense. If you do not have an agent to call, please feel free to call Adam Campbell.
Adam Campbell is the Broker of Record with Advantage Plus Realty Corp. and member of the Ontario Real Estate Association (OREA), Canadian Real Estate Association (CREA), Oakville Milton & District Real Estate Board (OMDREB), Toronto Real Estate Board (TREB), and the Realtors Association Hamilton Burlington (RAHB). Adam can be reached anytime at his office by calling 905-844-4444 Ext. 201.