Selling Your Halifax Home? How NOT To Lose Money

Richard Payne
Richard Payne
Published on January 27, 2018

Here’s a true fact – Many sellers don’t know how much their home is worth, how much equity they have or even how much they owe.

Hire an Experienced Listing Agent

I can’t stress enough how important it is to hire the right Real Estate Agent to help you squeeze every dollar possible out of selling that home. Sometimes sellers want to hire agents who charge lower commissions to save money, (and I totally get this) but to be honest, that’s often the wrong approach. Say the difference between two agents is one percent of the sales price. If a Halifax Real Estate agent offers you more marketing and visibility and potentially a better service…(but again, this is not always true)and charges one percent more than a competitor but brings you 10 percent more in profit, you’re further ahead. You might even lose money if you hire a cheaper agent who offers you less. Do your research and chose carefully!

Price Your Home Right

The longer your home sits on the market, the less it is worth in a buyer’s eyes. The longer the home is on the market, the more people think “what’s wrong with it?” and it can often deter buyers.Don’t try to test the market or you could end up losing money.

If you price your home in line with the comparable sales, you will get buyers interested enough to see it. Here are few things to help you to not lose money:

  • Compare the prices of sold homes within the past three months with homes presently on the market. Are prices going up or down? Who is your competition? If you were a buyer, which home would you buy? Consider prices buyers see and price your home accordingly, but keep the price in line with SOLD prices.
  • Tour open houses in your neighborhood. Look for trends. Note what makes one home more appealing than another. If you can drive desire in a buyer, a buyer will make an emotional decision, not necessarily a practical nor affordable decision. And that can result in more money for you.

Prepare Your Home For Sale

It might cost a little bit of money to get your home ready for market, but the return should far outweigh the expense. 

  • You can prepare your home for sale on a budget. Set aside an amount you can afford for repairs and for sprucing up the place. Ask your agent to help you determine which home improvement items to tackle, as not all will add value.
  • Don’t spend a lot of money in the bathroom. Most buyers poke their heads in and don’t spend any time in the bathroom. But keep the room extremely clean. Buy new hand towels and if the room is a dark color, paint it white or a light variation.

For more information or to chat with me in more detail about selling your Halifax home, please give me a call on (902) 489-1804 and check out my seller guide on the website https://richardpayne.ca/home-selling-system/

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