If you're looking to sell your condo at some point in the near future, you need to know a few things.
Firstly, Spring and summer are usually the hottest home-shopping periods, but the downside is that you'll be competing against more places for sale at these times as well. I'm not a big fan of seasonal selling - avoid the latter half of December, the first half of January, and everything else is steady enough interest wise.
Real Estate agents are the easiest source of determining the fair market value of your condo, as we have access to a plethora of history and tools at our disposal. If you are interviewing more than one agent for the listing, be very careful of a very old sales tactic: the agent that promises a high price (in many cases the price you want), rather than the agent that is telling you the truth (fair market value). Many agents will tell do this in order to get your business; they'll talk down your price later on. Call us for a fair, up front assessment on price. The Ontario RCI Team at 519-250-8800 begin_of_the_skype_highlighting††††††††††††††519-250-8800††††††end_of_the_skype_highlighting or email at firstname.lastname@example.org.
Neighbours can also give some idea of what your place is worth if they just bought a condo, just sold a condo, or are just plain nosy and know everything going on in the building! For a comparative market analysis contact our team at 519-250-8800 or email at email@example.com.
COST OF SELLING
When you factor in all the closing costs to sell your condo, and the closing costs to buy another home, it can get up to 8-10. Although you may think you're getting a deal with a hungry agent at 4 or 5%, ask your agent to show you the places that have recently sold in the VPP, and the amount of commission paid to the Buyer's agent; you'll see a moderately strong correlation between a higher commission, and a higher sales rate. In other words, more agents show your listing when it pays them more. Simple capitalism at its finest! ¬†
If you're selling the property yourself, beware: the American National Association of Realtors reports that more than half of the people who do sell their own home say they would not do it again. My main concern in this regard is pricing properly; private sellers are notorious for pricing too high or too low.
And perhaps my most important words of advice: if you are selling, MAKE YOUR PLACE SELLABLE. Spend a few hundred bucks on paint and replacement of that shag carpet now, and it will repay you 20 times over in sale price and reduced sale time. Stains, marks, odours all have to go. Do you know how many places are listed in the building right now that smell like a dog, or have stains in the carpets? Professionals specifically geared to prepping your place for sale, called stagers, are increasingly in demand. I have seen time and time again that the homes staged sell faster, and for more money, so give it strong consideration.
For any further article ideas or further real estate related questions, our team can be reached atour email or by calling us ask for the OntarioRCI Team. Check out the website at OntarioRCI