Home selling tips.
Two unconventional tips that you probably haven't heard before, and I'm not talking about
things like stage your home, make sure it
has a good curb appeal, depersonalize and declutter.
Well, that's kind of like saying before you go on a date, make sure you shave, perhaps
take a shower.
To me those aren't tips. It's really common knowledge.
Today, I'm going to share my two biggest things that all sellers need to know when putting their
home up for sale.
And to be honest, I think that this should be common advice that realtors provide.
But I'm not really sure if that's the case.
So this is a conversation that I have with all my sellers.
And I'm going to share that with you today.
The two things all sellers need to know is: Number one, where the market is, and number two,
where the market is going. Understanding these key elements will be able to help you understand
where the market is and determine what market you're in, as well as implement the correct
pricing strategy.
So as a seller, you need to know
What kind of market you're in, but how do
you determine that?
What metrics do you use in order to pinpoint the buyers and sellers for a balanced market?
There's a lot of different factors in determining what kind of market you're in.
But the biggest thing that you should know about is what's called a month of supply or
months of inventory.
Now this means that based on last month's sales, how many more months would it take
for the market to absorb all of the existing inventory?
Now in Calgary, if you have 2.5 to four months of inventory, it means that you're in a balanced
market, anything less than two and a half months of inventory, it means that it's a
sellers market because the properties are selling quicker and anything over four months
of inventory means that it's a buyers market.
Now I will say it doesn't matter what the
overall city's market is in.
There's always going to be different pockets of a community, maybe at different streets
of the same community that will always either outperform or underperform.
So this gives you a general idea of what your city is doing, what your community is doing,
and perhaps even what the local street within that community is doing as well, where you
can find this information is your local real estate board.
So for example, I'm with CREB - Calgary real estate board, and this is information that
I can pull and narrow it down right to the community.
This is super important information for you to know, because if the market going down,
then you can't employ the same pricing strategy as if the market was going up.
In fact, it's obviously the opposite.
In future videos, I'll be coming out and sharing my pricing strategy.
So if you don't want to miss that subscribe,
and if you happen to be here in Calgary, Alberta, and you want to know what the current months
of supply is for either the city or for your specific community, feel free to reach out
to me.
And I'd be happy to have that conversation with you.
Now, there might be other things that you're considering as well.
If you're a seller if you should sell now or sell later, if that is one of the things
that you're thinking about, make sure you check out my other video here or down in the
description below.
And if you have an existing property, but you're not sure if you want to keep it as
an income property and move up or you just want to sell it, then make sure you stay tuned
because I will be coming up with some good advice on what you should do, the factors
you should consider and what is the best for your situation.
My name is Felix Chan with the LiveInnerCity real estate team, helping you keep real estate
simple.
And we'll see you in our next video.