1. How much is my home worth?
Chances are this is a question you’ve already asked yourself—it may even be your motivation for selling if you happened to have discovered you are sitting on a gold mine. But if you haven’t, you should make sure that you determine the value of your home as accurately as possible.
To begin, we recommend trying out a comparable market analysis tool, which will give you an estimated value based on comparable homes (“comps” for short) in your neighbourhood. By comparing your home type, the number of beds and baths, and total square footage, it can give you an accurate assessment of your home.
Of course, an experienced agent can do more than just look at these “comps,” so we always recommend talking to somebody who knows the area before you list your home. There are often other factors that can have a big effect on how quickly your home sells.
2. How much repair and cleanup work do I need to get my home ready?
Is your home old? Does the carpet in the den recall the 1970s? Has the door to the laundry room fallen off the hinge? Before any buyers walk through your front door, make sure that your home has been thoroughly repaired and cleaned. A neglected-looking home (even if it has been much loved by you) is going to diminish the perceived value and possibly cost you offers.
You may also wish to consider a professional homestager, who can help you decide what changes you need to make, what clutter needs to go, and how much landscaping or work needs to be done to tidy the exterior of the property.
While some cleaning is always necessary, though, you should carefully balance the costs of repairs, professional cleanup, and renovation before listing your home. It’s only worth undertaking projects that will legitimately increase the sale value. While we don’t recommend it, some sellers are even willing to willing to accept a lower value in order to save themselves time and money in the short term.
3. Is this the best season for selling my home?
To be frank, it’s easy to obsess about the best time of year to sell a home. The answer is typically spring and summer, during the months of April, May, and June. But, realistically, properties will sell year round. If you have the time to wait for the Edmonton real estate market to heat up, then feel free to do so, but otherwise you shouldn’t let the time of year dictate when you list.
A clever agent may even use the seasons as an advantage. For instance, by making clear mention of the in-ground swimming pool when selling in the heat of August.
4. How motivated am I to sell my home?
Some people jump onto the market in a panicked state of mind, eager to sell as soon as possible for a variety of reasons--maybe they’ve accepted a new job elsewhere, undergone divorce or bankruptcy, or are simply dreading another winter shovelling that huge driveway they’ve come to hate. Emotions can sometimes get in the way of logic, but it’s always worthwhile to pause and consider your state of mind before you list your home.
If you find that you are not strongly motivated to sell--or that your motivations are purely internal ones--you might consider slowing down in order to build up a more effective strategy for listing your home and negotiating. Similarly, you may wish to shop around for a listing agent who is right for you rather than going with the first one that you see.
5. Where am I going to move?
Most sellers are also buyers, which can present logistical problems if the stars don’t align. It’s important that you consider your own situation. Do you already have another property? Can you really afford two mortgages if you buy before selling? Should you wait until your own home sells before making an offer on another one? Is there a relative who can take you in while you’re between homes? Or are you considering a short-term lease? By answering these questions now, you can save yourself from a stressful situation later.
When it comes to helping people sell their Edmonton home, we always think it's best to have a REALTOR® on your side who specializes in helping sellers. If you’re thinking of selling, connect with Ryan Dutka and his team today to get best-in-class service you can count on.