In real estate timing may be the most important factor in a successful sale. Most people think you just list a house and it sells but there is a lot more too just throwing it up on the market. A good agent understands timing and it can make all the difference. A client just contacted me about selling her home and wants it on the market ASAP. She has been going through a long and drawn out separation and after a year of trying to make her partner realize the relationship is over it is time to sell the matrimonial home. She wants me to list it now while the iron is hot. Problem is it is August. This is the slowest time of the year and timing can make a huge difference on the bottom line.
You only get to enter the market once and the timing of this can make or break a sale. The first week on the market is crucial and you want to make a great first impression. The month of August is so busy for families with all the vacations and getting ready for the start of school — real estate is the last thing on their minds. Once everyone is settled in school and all the summer activities are over everyone starts to look towards the end of the year. This is when the market is hot and the perfect time to list your home. August is the slowest time of the year but September is then the hottest time of the year. I can easily list the property today as it is in a great area and it will sell but why not wait a month and list it in the hottest market. They will get top dollar in September and then she can find a property to downsize into once the market cools into October. The good old sell high and buy low scheme.
Timing also comes into play when selling your home in a hot market. Picking the right offer to work with can make or break your sale. In a typical sale the buyers will take five business days to do home inspections and get bank financing. These five days can be an eternity in a hot market. If they do not remove clauses and your property is forced to sit off the market you can lose your momentum. A good broker will know how to handle this type of situation and use it to their advantage. Your home can be the perfect property but if it goes on then off the market — potential buyers have moved on to the next one and it can very difficult to attract their attention again. If you are considering on buying or selling soon take the time to meet with a broker now. You should have a game plan in place, pictures taken; brochures printed and are prepared to list your property the right way at the right time. Need help figuring it out just give me a call or email. V
Darrin DeRoches is a local real estate and mortgage broker. He can be reached to answer questions, comments or stories about real estate experiences through this weekly column at sold@uniquerealty.ca.
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