First, what is a balanced market anyway? This is when the supply of residential properties matches the level of demand from buyers. The two other types of housing markets are buyers and sellers: the former is when an enormous volume of units exceeds prospective homeowners, while the latter is when supply is far outpaced by demand.

Indeed, homeowners easily sold their homes above the asking price for the last couple of years. However, the Canadian real estate market has changed, so selling these homes has become more challenging.

Here are five tips for selling your home in a balanced market:

#1 Set a Competitive Price

Because active or new residential listings are now keeping up with the number of buyers, it is crucial to establish a price that lines up with current conditions. In addition, real estate experts contend that buyers may be a bit more fastidious when the broader housing sector is calm. As a result, it is essential to price your home correctly based on what the neighbourhood is doing and what agents recommend.

#2 Home Inspector

Before listing your home on the market, it is critical to hire a contractor or a home inspector and determine if there is anything wrong with the property, be it something that needs to be repaired or replaced.

During the pandemic-era boom, many buyers had ditched the idea of hiring a home inspector since it might have lost them the single-family house, attached property, or townhome. Today, it is a bit different, and even minor repairs might deter buyers from submitting an offer.

#3 Clear Your Things

When interested parties arrive at your home, they want to envision what their stuff will look like in the living room, bedroom, or kitchen. They do not want clutter to distract them from where they would potentially install their things. Therefore, as a rule of thumb, sellers need to clear at least 50 per cent of their furnishings, decorations, or items from each room. The more space, the better an idea visitors will have of how they will look in the new home.

#4 Add Incentives

While you do not need to go overboard in trying to strike a deal, you may need to add modest incentives to attract buyers. This could consist of new appliances, or a new television. The little things can ensure the home is sold faster and without complications or headaches. This might not be necessary for some regions of the national housing market, but it may be imperative in a part of the country with little sales volumes.

#5 Wait and See

In the previous boom, it was almost guaranteed that the listing would sell over the asking prices. Today, everything has been turned upside down, so you will know how much of the actual selling price you will receive once an agreement has been made. This can be difficult if you are in the market for a new home since you do not know how much equity you will possess. Because of this, you may need to wait a while until you can determine what you can afford.

Or course, working with the Barnett Real Estate team we are able to help guide you through the process, regardless of the market conditions.

Are you preparing to sell your home? The first thing you’ll want to do is find the right agent. Having a skilled professional by your side will help ensure that every step—from pricing to staging to negotiations—leads to the best possible result. It all starts with a practical approach to your search.

If you’re selling your home, here are a few tips for finding the ideal real estate professional for your needs…

Conducting Interviews

After some googling—and perhaps asking around amongst friends and family—you should have a shortlist of agents who seem like a good fit. Once you do, it’s time to start setting up interviews. There’s no better way to find out who you could work well with than by sitting down to chat one-on-one. Here are just a few questions to consider asking:

• How long have you worked in my community?

• What is your average sale-to-list ratio? (This is a home’s final sale price divided by the last list price).

• What sets you apart from your competition?

• Can you tell me a bit about your pricing strategy?

• How might you market my home?

Of course, one of the most important considerations is your comfort level. An interview will provide you with a window into how a given professional does business—and allow you to assess how well you’ll likely get along during the selling process.

The Right Qualities

There’s no one-size-fits-all approach to interviewing a seller’s agent. That said, there are a number of traits that the professional you work with should have. Here are just a few of the qualities to look out for:

Local experience

Whether they’re helping you set the perfect price or assisting you in marketing your property to local buyers, an agent’s area knowledge is crucial. A professional who knows your community—from neighbourhood schools to how much local homes have recently sold for—is well-positioned to help you locate and work with the right buyer.

Industry expertise

Of course, your agent should be more than a local insider. Before you start working with them, you should ensure that they understand the process inside and out. Try asking about everything from their staging and marketing to their strategies for handling multiple offers and unexpected closing details. Their answers will provide a lot of insight into their experience.

A strong track record

While hearing what an agent would theoretically do in various scenarios is helpful, their past performance is usually an even better indicator of how they’ll serve you. For the homes they’ve sold, what is their average days-on-market? How many homes did they sell last year? Asking for and carefully considering an agent’s statistics can be helpful.

What To Ask For

When an agent tells you about the results they’ve achieved for clients, you don’t have to take their word for it. If you want to learn what working with them is really like, consider requesting potential references.

On the marketing front, you’ll want to ask to view some past materials. From flyers to online listings, everything used to promote a home should be appealing, polished, and professional-looking. If you find the samples you see compelling, chances are that the agent responsible for them has what it takes to market your property with finesse!

Interested in learning how we can help you sell your home? Reach out today to set up a consultation!