More Windsor Real Estate Q & A

Posted in General Blog | 15/05/2013

Windsor Real Estate

Windsor Real Estate

It has been almost a month since one of my employees put her house on the market.  Because she does not live here, she is going with a different agent but much of what she is experiencing is what every home seller and Windsor real estate agent has experienced.

Question:

Can you believe it’s been a month since you listed your home?  How is it going?

Answer:

It’s a bunch of emotions rolled up in one.  But unfortunately, we have not received an offer yet and that is frustrating.  We have had lots of showings, though they are trickling down now.  Our home is in a higher price range so I knew it would be more difficult to sell, but you are always hoping your home is the one that is snapped up quickly!

Question:

Yes, higher priced homes do often stay on the market longer as there are fewer buyers. About how many showings do you average a week now?

Answer:

We are now down to about two or three. In the beginning we were getting a bit more. Our home is one of two or three that is in a specific price range for this neighbourhood, so there is not a lot of competition.  Fortunately, it has one of the best schools in the area and on a quiet, tree-lined street that is perfect for families.

Question:

Would you do anything differently?

Answer:

Yes!  Honestly, and this is shocking because I probably know better, but I may have gone with a different agent.  I don’t think there is enough exposure on our home and certainly very little online marketing, other than being on MLS.  While our home is on her company’s website, the pictures are not my favourite because the colours bleed into each other.  So the paint of the wall, goes into the ceiling.  The photos are being redone, but it’s a hassle.

Question:

Yes.  Online marketing with social media is an absolute must.  You can’t find a better way to promote a home and get it in front of buyers than via the Internet.

Answer:

Absolutely.  It is crucial and this is where I feel I should have asked more questions.  I know the agent and like her very much, but now I’m fearful that my home is not getting the attention of the right buyer.  However, we are having showings, so word is getting out, but I’m waiting for the phone call that it may be time to lower our listing price.

Question:

Yes, that was my next question.  Has that been considered yet?

Answer:

Not really, but I believe in a few more weeks if the home is still on the market without an offer, then we will need to consider it.  One house down the road just lowered their home price by $50,000.  But we did careful research prior to listing our home and we truly feel, and word of mouth from other realtors is, that the home is priced well.

Question:

Yes, that is always the difficult conversation:  Should we consider adjusting the asking price?  It’s never easy and certainly not fun, but it often needs to be done.   Who knows, if you lower it, you can very well get more interest and perhaps a bidding war.  This is not uncommon anymore.

Answer:

Yes.  That would be great.  We just want to take advantage of the spring/selling months.  Because this is such a family neighbourhood with excellent schools within walking distance, our target buyer is a young family and we know they want to be in school by September which means we are really hopeful we get an offer this summer.

Question:

I know you took a few months to prepare your home for sale.  Anything you would do differently? Anything that didn’t make much of a difference?

Answer:

No, I think we did all of the major updates that we needed to do, particularly for this price range.  Buyers want to make sure that they move into a home that is move-in ready, particularly in this budget, so we had to resand the floors, get the roof repaired and do some painting.  I’m flirting with the idea of having our front door painted as well as the alcove by our front steps.  I’m just going to wait and see what happens in the next few weeks.

Question:

images-9Any advice to other home sellers out there who are getting ready to put their home on the market?

Answer:

Be prepared for a roller coaster, though hopefully your home will sell right away!  But we have had buyers come and look at our homes two times and you just keep hoping that an offer is forthcoming.  The feedback has all been great and the home shows well, but again, it seems like you are constantly cleaning and going to the market for fresh flowers!  We had my son’s friends over this weekend and I sounded like a broken record:  “Don’t take food upstairs!” “Take your shoes off!”  “Clean up after yourself!”  I’m sure they were happy to leave!

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