How to optimize clients' sale prices

by Neil Sharma16 Apr 2018

It might not feel like it outside, but the spring is upon us, and with it the busiest time of the year in real estate.

Spring is also when sellers can maximize how much they receive for their houses. According to Drew Woolcott, broker of record of The Woolcott Team with RE/MAX Escarpment, sellers should ensure they have an experienced agent who’s well-versed in the local market and different neighbourhoods’ nuances.

“Be ahead of the crowd, so early spring and just prior to summer is a great time to list and sell because there isn’t, traditionally, as much inventory on the market, and yet buyers are already out looking,” said Woolcott. “Agents could explain to their clients that this is an opportune time in the sales cycle, and that might have the client act now rather than risking not acting and dealing with someone else.”

Historically, prices peak during spring, but without curb appeal the seller won’t optimize their sale price.

“Historically, earlier in the year the prices have been firmer than later in the year, and that would motivate a seller to act, I think,” said Woolcott. “They could work on the curb appeal of the home for photos. That would extend to the yard, to the porch, to the gardens, bringing in fresh planting to set the house apart.”

A condo’s exterior wouldn’t require as much work, but its balcony can certainly be dressed up.

“With a condo, the balcony space can do wonders,” said Lorena Magallanes, a sales agent with Stomp Realty. “Make the outdoor space seem like an extension of your interior, so I recommend the wood decking on a balcony to kind of make the concrete floor look finished. There’s also nice plastic decking you can get at Home Depot. It just completes the space outside with a nice dining set and two chairs.”

In true spring spirit, Magallanes recommends decluttering listed homes because less is more.

“Since we’re in the spring market, decluttering is number one. Less is more when selling, so you almost want to not have a full closet worth of clothes and shoes, you want to limit it. Try to limit what‘s in your closet and on your kitchen counters.”

Lastly, staging a home isn’t something many sellers do, but Stomp Realty hires a professional stager to ameliorate the presentation of all their listings.

“Get a stylist or a stager. We always hire a stager to come in, and sometimes it doesn’t mean changing furniture, it just means the stylist comes in and fluffs the space. They might be able to change the artwork, pillows, couch throws, furniture.

“A fresh coat of paint always helps, too. Some sellers love to think their green- or yellow-coloured walls might work, but the reality is buyers like to see a neutral pallet. White and light grey can actually do wonders.”

 

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