We start with defining a buyers’ market. A buyers’ market is simply the type of market environment where Homes For Sale in Edmonton greatly outnumber Edmonton home buyers. The number of listings on the Edmonton MLS is greater than the number of people that’s willing to buy.
Supply > Demand.
I hope that definition made sense. In this kind of market environment, buyers have the upper hand (for obvious reasons). Many real estate “experts” view this situation as a not-so-good time to sell. Well, let us be the first to tell you that in whatever market you are in, there are and will always be buyers! It will all depend on you and your agent’s skill and ability. Team Leading Edge have consistently sold properties in all kinds of market; whether it’s a buyers or a sellers.
Today, we’d like to share with you a few tips that can help boost your chances of selling fast on a buyers’ market. It’s all our hard work and experience written concisely on this little blog for you to succeed.
STOP FSBO. For Sale by Owners is one of the first things that you must NOT do. It’s on top of list that you must avoid, especially on a buyers’ market since competition amongst home sellers is really on the max in this situation. You do not possess the knowledge and skill set that’s needed to out compete the other sellers-sad but that is the truth. You will need the help of an expert that have competed and survived the competition throughout the years, such as the Team Leading Edge members.
You can read more about the risk of going FSBO here:
FAIR MARKET VALUE. With the help of your agent, you should determine the REALISTIC price for your home. Pricing your home above the competition will spell disaster on your selling effort. You have to listen to the market and take the advice of the market expert.
If you do not pull this off correctly, you’re maybe in for a long wait.
MAKE THE HOUSE STAND-OUT. From its façade to the exterior, your house should provide a first great impression to the potential buyer. Remember, there are more supply in this market, to that means home buyers will see 3 or more houses before they decide. If you can make the significant impression in their visit to your house, then you can almost, always, guarantee success.
Here are a few resources to help get on the right track:
LAST BUT NOT LEAST, SHOW A BILL OF GOOD HEALTH. Go above and beyond the competition by providing a documentary evidence that the house is 110% in good condition. This can be attained by having it inspected by a reputable home inspector. No leaks, no cracks, no faulty wiring means yes to closing a deal-fast!
We at Team Leading Edge have partnered with Edmonton’s most reputable home inspectors. You can view their profile here. Edmonton Business Partners
These may seem a lot but it’s everything that you need in order to successfully carry out the selling process. Time is of the essence and the sooner you get these things done, the faster you can have your Edmonton home sold.
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