Home seller questions
The most common questions vancouver home sellers have
real estate F.A.Q.
The Frequently Asked Questions presented below are a result of years of dealing with buyers and sellers in Vancouver. Whether you’re a first-time homebuyer or a home seller, we understand that navigating the real estate market can be both exciting and overwhelming.
Our in-depth knowledge of Vancouver’s housing landscape put us in a great position to answer all your questions. We are here to provide you with all the essential information you need to make informed decisions.
This comprehensive FAQ section has been thoughtfully created to address the most common unknowns our clients have encountered throughout the journey of buying and selling real estate in Greater Vancouver. From understanding the buying process to answering the most common selling questions. Our goal is to equip you with the insights and resources necessary to ensure a successful and productive process.
HOW LONG DOES IT TAKE TO SELL?
The average time for a home to receive an offer is typically between 3-4 weeks in a typical market. In the current market conditions, you may want to plan for a longer selling period.
It is important to note that it is heavily dependent on the pricing strategy, the presentation of the home decor, accessibility, and timing in the market. If you are thinking of selling your Vancouver home in the near future, contact us for a realtor home evaluation report to accurately determine the expected home sales times in your area.
HOW TO DETERMINE RIGHT LISTIG PRICE?
The method to determine the appropriate listing price of a home is called CMA, which stands for Comparative Market Analysis. This is the most common pricing methodology used by realtors in residential real estate sales to determine the market value of your home.
When we suggest an appropriate list price, we take into account recent sales data of similar homes that have recently sold within the specific area. The process entails considering all of the unique features of your home, such as renovations, views, size, location, age, and other features which may affect value. Contact us to receive a free, no-obligation realtor home evaluation
SHOULD I MAKE REPAIRS/RENOVATIONS?
Home purchase is usually a very emotional process. Minor repairs and updates can have a dramatic impact on the sale price. It is important to consult with your Vancouver Realtor regarding which repairs and updates will have the most significant impact.
As part of our service we offer home sellers, a complimentary consultation with a home design specialist to ensure the home is prepared in the best way possible before listing. See case study of the effect of home repairs and staging.
SHOULD USE HOME STAGING WHEN SELLING?
If your home is vacant, we highly recommend staging it before listing for a few reasons:
1. The marketing material will be much more impactful. Photos and videos of staged homes attract more viewers and prospective buyers compared to vacant homes.
2. During viewings, buyers will see the home in a much better light. As mentioned in the previous section, this is an emotional process, so a staged home is more likely to sell faster and for a higher price.
Home staging is only 1 of the elements we employ to make your home more appealing, there are many things we do to help with presentation. Here’s a post talking about preparing your home to sell.
WHAT TO CONSIDER WHEN CHOOSING A REALTOR?
When choosing a realtor to sell your Vancouver home, you need to ensure they are familiar with your area, local zoning, neighbourhood amenities, and other sales in the area. Additionally, consider their marketing plan and process for listing homes.
On so many occasions people choose a realtor because they’re a family member or a friend. This is a business transaction and you’re selling a large investment.
WHAT ARE COMMON MISTAKES WHEN SELLING?
The most common mistakes we often see home sellers make are:
> Overpricing their home.
> Poor preparation of their home before going to market.
> Not allowing access to accommodate showings, or restricting showing times.
> Interfering with their agents selling process. Your realtor is your marketing manager. Listen to their strategy and follow their advice to ensure optimal results.
HOW SHOULD I HANDLE MULTIPLE OFFERS?
In the current market conditions, multiple offers are less common but may still happen, especially if you’re entering the market with competitive pricing, or your property is unique/very desirable.
If you receive multiple offers when selling your home, it is very important to strategize the negotiation correctly. It is important to discuss this scenario with your realtor to ensure you understand what is expected from you in the event of multiple offers.