Bonnyville Homes Blog

From buying to selling, the price can sometimes be very daunting. 

When it comes to listing a home, the price can be everything. Pricing a home too low may mean that the sellers may not get top dollar, and pricing a home too high may deter buyers. It’s so important to have a home priced right, the moment it hits the market.

What Goes into Pricing a Home?

As a homeowner, you want to ensure you have a real estate agent on your side who can help ensure your home is listed for the best price. Factors that real estate agents may use in pricing a home may include a variety of factors to help guide them to the perfect listing price for your home.

These factors include:

• Recent sold data, houses that are currently on the market, and even those listings that were canceled or expired in your neighborhood. And remember, just because two homes may look the same on the outside, doesn’t mean that they are worth the same; there are many factors including upgrades and maintenance that go into pricing a home.
• Market trends for your area and the entire city. It is essential to compare the data to market trends. The real estate market is continuously changing, and pricing can vary from year to year. A significant trend right now is multiple offers, and this can affect the listing price as the price must allow room for offers.
• The condition of your home. It can be hard to look at our own home to determine the value objectively. Where you may see beautiful memories, someone else may see something that needs to be replaced. Your agent will be able to give an unbiased opinion when it comes to the value of your home.
• Knowledge and Experience. A real estate agent works in this market every day, and their practical experience in your neighborhood can outweigh any stats or trends.

Preparing your home for a potential buyer? While some may think that a simple dusting and hiding of laundry is sufficient enough, there are actually a few things you can do to help attract potential buyers into seeing the potential in your home. A potential buyer does not want to see YOU and your family in the home, they want to be able to imagine them and their family – doing this will help attract them to wanting to possibly bid on your home.

Tips to help elevate your home and prepare it for a potential buyer, you can:

Consider furniture arrangement – Have an oversize couch? A leader lazy-boy in the centre of the family room? One of the worst things a potential seller can do is make a room look smaller than it actually is. Consider the furniture you have, it’s placement and how you can make it so that the space is clutter free and spacious. This will help buyers see the potential and envision their furniture in the space.

Highlight the natural beauty of the home– Have you been hiding the marked hardwood floors? Maybe you’ve hidden those large hall windows with curtains because it’s too bright – these finishes are ones that a potential buyer is looking for and at. By highlighting the natural beauty of the space may just attract a potential buyer who grew up in a home with hardwood floors or large bay windows. Your dislike, may be another’s like.

Declutter the clutter – What you consider organized chaos may come across as just messy to another. Before a showing, put away those small items that can pile up. For example, have an avid reader in the home? Put them on a shelf or stack them up nicely. Magazines? Loose papers? Stick them in a pile or a drawer. You don’t want to make your home seem messy because that may be all they see.

Whether you are selling for the first time, or are seasoned, these tips will help make the process a much more bearable and exciting experience. As a homeowner selling, you want to help a potential buyer see all the potentials in your home, just as you saw the potential in it.

Did you know that when it comes to selling your condo over a townhouse or detached home, there are certain things you as a condo homeowner can do to help entice sellers?

Here are three tips to help you ensure your condo is prepared for the real estate market, but that is the one that buyers want.

Declutter – When we are about to sell or move, we will often find ourselves in cleaning and decluttering mood. It is essential that when you are preparing to showcase your stunning condo that

 you declutter. It’s important because a condo can sometimes be as expensive as a house in suburbia with a car garage and picket fence. One needs to show the potential buyer all the possible space they can have if they buy your condo.

Condo Pricing – Chances are there may be more than one or two other condos in your building or near-by yours that may be on the market at the same time. It is important that you not only work with a real estate agent who is familiar with the area and type of listing but that they can help you price out your condo. This means knowing what will help a potential make an informed purchase. Installed a marble countertop? New appliances? These details can help price your condo over others.

Added Bonuses – Does your condo have a gym? Pool? Is there parking? Front door service? Storage? These are what are considered bonuses, and while to some, they may seem trivial, to a potential buyer, these are essential features they are looking for. Make sure when you work with a real estate agent, they highlight these but also when you are doing a showing, demonstrate the benefits of these bonuses. For example, having a front door service provides added security.

Remember, when it comes to selling your condo, you want to be as competitive as the other properties in the market. You want to demonstrate why your home is the home for them.

Your family of three is growing and becoming a family of 4 – or maybe you are just only looking to add more space to your household. Whatever the reason is, when it comes to upgrading your home, no one wants to be paying a mortgage on two homes.

When it comes to selling your first home and buying your second, there are a few things to consider.

Timing – You want to ensure that you can sell and buy your new home relatively close to one another. Whether that is having a closing date that allows for a perfect transition to your ideal move-in date, be aware of the timing over buying and selling your home.

Buyers or Seller’s Market – The real estate market is one that often will swing back and forth from a buyer’s market to that of a seller’s market. A buyer’s market is where there are more homes in the market than there are buyers. A seller’s market is when there are more buyers than homes to be purchased. When it is a seller’s market, this can sometimes result in above-asking prices and bidding wars.

Budget – Some homeowners think that because they’ve owned a home before that, they can afford a bigger house. This may be true, but it also may not be. It’s essential to consider your budget, from what your existing home will sell for to what you can afford. If you are looking to move because your family is growing – chances are you will need a bigger house, yes, but your budget will also change.

When you enter the real estate market, mortgage brokers and real estate agents often share that the average time a homeowner spends in their first home will be between 3 – 5 years. For some, they’d like to think their first home is their forever home. While that is hopeful, it is important not to close the door on the possibility you may find yourself looking to sell and buy at the same time.

The real estate market, whether you are buying or selling, can be expensive. Whether it’s hiring a real estate agent to sell or to buy, many professional real estate agents will expect a fee – not to mention lawyers and other professionals involved in the process of selling and buying can quickly add up. We break down some myths when it comes to selling a home that unseasoned homeowners may not be aware of, or rather, unsure of when it comes to listing their home.

Your real estate agent will take care of everything…

While we sometimes put our faith in our real estate agent to take care of everything, there are a few things that they do not take care of. Real estate agents are not responsible for any legal aspects of the transaction, nor are they responsible for preparing or planning for an inspection. The real estate agents’ job is to act as the middle-man between the homeowner and the potential purchase (or buyer if they are selling). Homeowners may think that once they’ve hired a real estate agent that is it – but there are many people involved when it comes to buying and selling a home.

Not having an open house means your home won’t sell…

For some real estate agents, they will push for an open house – which for some homeowners, can be demanding and time-consuming. During an open house, the owners have to be away, and the house has to be in pristine condition. The truth is, while open houses allow for those driving and around the area to stop by and check the home out, there are other ways of marketing one’s home to ensure they are gaining exposure. From Facebook to the real estate agent’s website and to lawn signs – open houses don’t always guarantee a house will sell faster than homes that don’t have an open house.

Real estate agents only care about their commission…

There is this perception that all real estate agents make the same commission, this is false. Real estate agents can vary in the commission that’s earned from a sell. Typically, real estate agents can make up to 3% down to 1% commission on a home is value. Though it may seem that a real estate agent only cares about selling as fast as possible, so they earn their cut, real estate agents who are experienced and care about their reputation will ensure that their clients’ get the best deal. Much of a real estate agents business comes from referrals and return clients; therefore, if a homebuyer has a negative experience, they won’t use the same agent, nor will they recommend them.

The real estate market can be overwhelming, and if you are new to the real estate market – it can be stressful. Everyone has a unique experience, whether they are selling or buying, which is why when it comes to starting the journey, it is best to have qualified and knowledgeable assistance and guidance. Don’t feel overwhelmed and don’t feel lost when it comes to embarking on a journey to invest in a house to call home.

Are you in the market to upgrade or maybe downgrade your home? Selling can be both a fun and stressful time. For many homeowners, when it comes to determining the value of their home, the price will reflect heavily on what they as the current homeowners see. Of course, no one wants to say their home is worth less than they’ve invested; however, for some homeowners who sell, they don’t always get what they ask and want. This decision can come down to a seller’s choice of whether or not to go with a real estate agent or to sell privately.

We share facts that should be considered when determining whether or not to list with an agent or to tackle the real estate market on your own.

Determining Your Home Value

When it comes to selling your home, it is essential to ensure you don’t over or undervalue your home. When it comes to listing, real estate agents have the luxury of being able to see the price of homes that have sold in the area and what the house is presently valued. Listing privately though means the homeowner would have to either guess what others have or are listing their homes for and place their home on the same spectrum. This is not always easy, nor is it still an accurate gauge of one’s homes value. Going with a real estate agent or any professional can ensure you sell your home for the best profit.

The Truth of Selling Your Home

Sometimes having a neutral party tell you the truth is more comfortable than having someone you know and trust. For example, family and friends are less likely to say to you that the bright red spare room might turn off potential buyers; whereas, a real estate agent will have no issues saying it how it is. A professional (especially someone who may have closed many deals in the past) will make the best recommendation for the homeowner – which may include some changes to the aesthetic appeal. While homeowners may think that their outspoken style and taste is what will sell their home, the truth is, it could actually be hindering the potential to have a buyer. When it comes to listing, it is essential that the home is prepped to be a blank canvas. Doing so will allow potential buyers to envision themselves in the house with their style and flavor.

Stress-Free Selling

Selling a home can be a full-time job, which is why when it comes to listing, sometimes it is better to go with a professional than to do it all by oneself. From the photos to the description and the specifications of the house itself – professionals can ensure the information that buyers look for are present. Homeowners who are listing privately may focus too much on aesthetics rather than the features of a home that are important. Hiring a real estate agent means that the homeowner can focus solely on finding their new home and not selling.

The real estate market can be overwhelming for anyone who has little to no experience, which is why when it comes to listing your home – why not go with a professional. In Canada, while there are services such as Purple Bricks, that allow homeowners to list their own home, having an agent from recognized companies such as RE/MAX can ease all the stress and burdens that come with selling a home. Don’t focus on the small stuff, focus on the bigger picture, and that means having someone who will help you from start to finish.