Selling a House in Peterborough From A to Z

The real estate market is on fire in Peterborough! Between people relocating from the GTA and those upgrading and downsizing right in town, there always seems to be a bustle of activity from both buyers and sellers. What does this mean if the time has come for you to sell your home? Rising demand from buyers puts you at a distinct advantage right now. However, you still want to go through all of the steps with no shortcuts so you can maximize your results even further. Since you’ll soon be searching for a new home of your own, a successful sale means you’ll be in a better position to take that next step. In this post, we’ll look at the process of preparing, pricing and marketing a home so you can earn the highest possible return.

Expert Guidance: The First Piece of the Puzzle

The real estate market can be complex at the best of times, and conditions can change on a dime. Reports of current events, economic changes, and interest rate fluctuations can bring the market to a standstill. Or it can trigger an unprecedented demand, as we saw during the 2020 pandemic. Who better to help you navigate this unchartered territory than an experienced local real estate agent who has handled every situation imaginable?

An expert by your side doesn’t just provide peace of mind through what would otherwise be a stressful transition. More often than not, their ability to create effective pricing strategies and targeted marketing campaigns results in a faster sale, leaving you with more money in your bank account after your transaction finalizes. Now that you know the value the right expert provides, how do you find someone you mesh with? The right agent offers the perfect combination of experience, commitment to service, and local knowledge. Above all, they should have a dedication to your happiness and satisfaction.

This checklist can help you begin to narrow it down:

Is your agent local with detailed knowledge about the city and neighborhoods?
Can they provide reviews and testimonials from previous clients?
Do they understand the finances and legalities of real estate?
Are they full-time agents? If you want your house to sell at the best terms, you’ll probably want to avoid “hobby agents” who work real estate on the side.
Are they responsive to your emails and phone messages?
Do they communicate in a way that you understand and that you feel comfortable with?
Does your agent have network connections? Great agents work with other agents on a regular basis.
What is their system for marketing other properties in the area?

Should you consider investing in Peterborough? Here are some resources to guide you:

Positioning Your Home in the Market

Once you’ve chosen your real estate agent, every other step will seem simple by comparison. Whenever a task seems overly complex or overwhelming, you can step back and hand off the bulk of the work to your agent and their team of professionals. That said, it helps to know what to expect at each stage in the game.

The foundation of a successful sale starts with knowing the value of your home. This may sound simple, but it can be challenging to view the home that you love with a critical eye.

What features does it offer that are most likely to attract potential buyers?
Is there anything they might not like that you could easily and inexpensively fix?
What single feature is your best advantage in a competitive market?

Your real estate agent can help, but no one knows the ins and outs of your house quite like you do. Making a list of everything that you love will help your agent when negotiating with potential buyers. And, of course, spotting potential weaknesses allows you to correct minor issues before they turn into significant problems.

Show your agent at least 10 things you love about your home and why. Sometimes it’s not about the house itself. Often, it’s the amazing location and all the amenities at your fingertips!
Ask your agent for advice on repairs, upgrades, and staging that will make your house stand out from other listings.
Work with your agent to determine if a general pre-inspection before the sale will help you appeal to more buyers.

An Appealing Price Is Critical

As a homeowner, you want to earn the highest amount of money that you can when selling. And this has nothing to do with greed. You have a vision for your life, and the proceeds from your sale can help make it happen.

There’s a common misconception still prevalent in the market that says that overpricing leaves room to come down, allowing the buyer to feel like they got a deal. But educated buyers in today’s market don’t often fall for tactics like this. Or at least their agents don’t. It may seem counterintuitive, but if you want to earn more from your sale, you might have to set your initial price a little lower.

The optimum price will attract the most buyer interest without sacrificing the value of your home. Here are some guidelines that will help you find that perfect sweet spot for the current market:

Ask your agent for a CMA (Comparative Market Analysis), which helps to determine a price point based on square footage, location, condition, as well as the sale price of similar homes in your neighborhood.
Consider visiting houses currently for sale in the same price range and location.

A Marketing Plan to Bring in the Buyers

Regardless of how busy the real estate market is, a successful sale depends on bringing your listing to the attention of potential buyers. For that, you need a comprehensive advertising and outreach strategy that will expose your home to the people most likely to be interested in it.

Ideally, this involves a mix of targeted online and offline advertising along with an aggressive social media campaign. Your real estate agent should leave no stone unturned to bring your home as much exposure as possible.

Have your agent schedule high-quality real estate photography for your home. Professional photography can often increase your sale by thousands of dollars!
Schedule a time with your agent to create all pre-listing marketing materials, such as video walkthroughs, social media blasts, professional photos, and floor plans.

Now here’s something that most homeowners and even inexperienced real estate agents do not know: Some days are better than others for your house to hit the market. It depends on the location, type of home, and current demand, but planning your rollout effectively can help you generate a lot of interest from buyers right out of the gate!

Getting and Keeping Your Home Show-Worthy

In an earlier step, you took on the challenge of deciding upon and arranging for any updates to make your home more appealing to potential buyers. Now that your house is officially on the market, you have a new task.

Your mission is to keep your home clean and tidy and ready to welcome potential buyers at a moment’s notice. For many people, this may seem even more monumental than getting your house ready for the market to begin with. If that sounds like you, take heart and try not to be discouraged. It won’t be long until your house boasts a “Sold” sign. Until then, the following tips will help you stay on track.

Clean & declutter thoroughly and remove all personal items and knick-knacks. If you don’t need it between now and your closing, pack it away!
Keep decorations as neutral as possible. We want potential buyers to imagine themselves in this space.
Improve the outside of your home so buyers can fall in love at first sight. Simple tasks like maintaining the lawn, clearing the yard, and hiding trash cans can go a long way.
Talk to your agent to determine if staging will help sell your home faster or more successfully.

If any of these tasks feel overwhelming, consider hiring a cleaning crew. Investing a few hundred dollars on professional cleaners and landscapers can allow you to put your feet up and relax while adding thousands to your sale!

The Secrets of Successful Showings

One of the best-kept secrets for showcasing your home to potential buyers is the easiest of the steps so far. Whenever a buyer arrives, just be somewhere else. Most people will feel more comfortable when you are not around and will ask more questions and examine the house freely to see how it meets their needs. It’s time for your real estate agent to do what they do best; to point out the highlights of your home and skillfully answer all questions. Even though you may be out of the house, there are still many things you can do to ensure this step is successful.

When visitors come to your home, be sure to store important financial documents and valuables in a safe place.
Make arrangements for kids, pets or elderly family members.
Try to organize your showing windows to allow for maximum availability. You never know who your buyer will be or when they will arrive at your door.

Analyzing and Accepting Offers

Once enough potential buyers see your home, you can expect the offers to start trickling in. Or pouring in like an avalanche, depending on the market. With houses increasingly in demand, multiple offers are very possible! The question is, how do you evaluate them to determine the best one? The highest dollar amount matters, but there are other factors to consider as well. For example:

Are there any conditions that might affect whether your sale finalizes?
How far away is the closing date? Do you prefer something sooner, later, or more flexible?
If you accept an offer with the highest amount, does the buyer have a pre-approval to prove that they can follow through?

By talking things over with your agent, you can choose the offer that provides the best terms based on your expectations and next steps. Now, you can start planning your celebration because the end is near!

Are you thinking of relocating? Here are a few tips to help you with a seamless transition:

Closing the Transaction

Once you and the buyer sign the agreement, the closing process begins. You get your deposit, with the remainder of the down payment to come once the transaction finalizes. Soon, your moving day will arrive, and you’re on to your next great adventure!

Do you have any other questions about selling a house in Peterborough? We are happy to provide you with up-to-date advice and information to help you get the best results. Reach out today at team@jeffandkatie.ca or call 705-243-9797 for more information or to get started.

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Curious about your real estate options? Relocating to the Peterborough area? Our experts are ready to help.

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