Selling a Townhouse In London Ontario Quicker?

When thinking about selling a townhouse in London Ontario & area, where do you start?

Ask about selling a condo in London Ontario

When do you start?

Is there a difference if it is a townhouse or an apartment?

A freehold or a regular condo corporation?

How would you feel if you knew some surefire ways to prepare before selling a townhouse or a town home or an apartment condo in downtown London, if you knew about the timely steps to take, the questions to ask, the caveats to be aware of?

From experience of selling 100’s of condominiums in London Ontario, this will get you thinking and keep you on track before, during and after you list your condo for sale on MLS

   Here it Is!

 

What Turns Buyers Off When Looking At Condos in London Ontario

     What Turns  Buyers off  When Looking at Condos in London Ontario & Area?

A messy House does not sell

 ODOURS …Overwhelmingly, the #1 complaint among prospective buyers was unpleasant odours in the  home.  The chief offenders were smoke, pet odours, and strange cooking aromas.  Some buyers turn right around and walk out because they found the smells so oppressive.  Most of us are unaware of the ‘peculiar’ odours of our homes because we become immune to the smells – the buyers are not immune to these same odours.

CLEANLINESS...This # 2 complaint  was that the seller simply did not bother to clean.  We’re not talking about home staging (which will help) or even unrealistic expectations of the home being spotless – just simple old-fashioned cleaning.  Selling your home can be a bit inconvenient, but when you have advance notice that a buyer is coming to view your home – clean it up!!!  At the very least, remove the pile of dirty dishes from the sink.

keep your house spotless when selling it

SELLER AT HOME…Coming in at #3 is having the owners at home while the buyers are trying to view it.     Most buyers felt very uncomfortable with the seller there.  Many said they could not take the time to really look at the features of the home because they were in such a hurry to get away from the seller.  This is a real problem for those selling their own home as they are usually the ones showing.

CLUTTER...The #4 complaint is related to the cleanliness point – the dreaded clutter.  We have all seen it on the home shows, many buyers have a hard time seeing your home because of all your stuff.

 UNFINISHED PROJECTS...Unfinished projects take the #5 spot.  If you are planning on selling your home, finish up any on-going home improvement projects before placing it on the market.  Homes with half-finished painting, flooring, trim, etc. gave buyers a bad overall impression.

 

If your home is priced correctly and you have addressed the other items on this list, it will stand out and sell!

Exclusive Envelope Real Estate Home Audit

Our ‘Exclusive Home Audit’ that we do before putting your home on MLS, on all our websites, on all our social media pages, our blogs, our signage entails these 5 and 31 other points.  We go over everything with you so that you can sell your home quicker, for more money!

  Why is That?

Because we excel at exciting buyers & their Realtor about your home!

Could You Get $10,000-$50,000 If You Sold Your London Ontario Condo?

If you could get $10,000 to $50,000 more for your London Ontario condo, would knowing what  buyers are looking for or don’t care about make a difference? In a recent survey of 3167 Realtors, here are a few insights.

what is in and out when buying a home

IN

  • walk-in closets
  • bright modern bathrooms
  • Energy Star appliances
  • little or no carpet
  • e-smart thermostats 
  • granite or quartz counters

​                                                            OUT

  • laminate counter tops
  • white appliances
  • dark window covers
  • noisy ventilation fans
  • low bathtubs 
  • carpet 

When it comes time to sell or update, keep these in mind, but what if you do not have any of these, or your condo is older or you do not have the funds or time to update?

This is where skill in marketing shines! Where pricing is very important and ‘Molly Maid’ or good old soap and water will make your home shine!

house cleaning

If you could have a room to room breakdown of your whole house or condo that would point out what could be done to improve the home’s value, if it would matter or not; or; would you get that money back if you did the fix ups?

It takes less than 1 hour to do and you will definitely have ideas to increase your home’s value. Many client’s have told me they got anywhere from $10,000 to $50,000 more, SO you can too!

  If $10,000 to $50,000 more in your bank account is important to you, let’s get together. There is no fee for this, there is no obligation and I won’t hold your children , your pets or your spouse as hostage.

 Why not see how you can get more money now!

Get The Inside Scoop Before Selling a Condo in London Ontario

Put Your  Condo  In London Ontario Up For Sale & Feel Better About It

Selling a condo in London Ontario

When thinking about putting your condo on the market, there are little subtle things that start to add up and if not checked in time, can mean the difference between your asking price & actual sale price and how much longer it will take your condo to sell, or not sell!

Before putting your condo up for sale, learn how to:

  • Dress Up Your Condo To Sell For More

  • Price  it Correctly The First Time

  • ​How Not To Limit  Market Exposure

  • ​Know The Difference Between Market Value & Perceived Value & What That Will Mean To Your Bottom Line

  • What Are Your Legal Obligations? To Your Lender? To Your Condo Corp? To Your Family?

  • ​How The Overall Market  May Affect Your Home Sale – Positive or Negative?

  • Can Negotiating Skills Make a Difference In Your Sale?

  • How To Handle Buyers During a Showing To Help Yield The Highest Price.

  • ​When Are The Best Times To Have Buyers Go Through?

Getting a thorough understanding of these points will give you 100% confidence in your decision to sell your home, also, 100% confidence in your Realtor!

Now, how would you feel?

 Why Not Get The Inside Scoop On Selling a Condo In London Ontario & Area?

 

London Ontario Condo Market, What Is It Like?

Every day I get asked these 4 questions about the London Ontario condo market.

  1. “What is the London Ontario condo market doing?”
  2. “When is the best time to buy or sell a condo?”
  3. “How much should I offer?”
  4. “What should I list it for?”

​  Questions  London Ontario Condo Market

The first step in answering any of the above 4 questions is knowing how the London condo market performed factually, not by guess work or perceptions. Most days I have a detailed list of actual sale prices, days on the market, selling price ratio to the asking price and price reductions.

You can too!

From my experience in helping educate Londoners about condos in London, these averages may not hold true for your building or complex.

Before buying a condo in London or selling a condo in London, you may want to get what I call “brutal truth factual numbers” about what prices are today and not an opinion where prices are heading or what someone received for their unit 6 months ago.

Price, condition, style and location dictates what a condo sells for and how long it will take to sell. For buyers, you will be assured of not over paying and for condo sellers, you will not leave money on the table or over price your condo because of blind optimism or false perceptions!

Works every time! Want some answers?

Setting a Selling Price For Condos in London Ontario

                       What to be Careful of When Setting Your Selling Price

Meeting with a REALTOR

Meeting a Realtor

You have decided to sell your home and have a fairly good idea of what you think it is worth. Being a sensible home seller, you schedule appointments with three local real estate representatives, (or a friend of a friend who has a friend). They set up a time with you and maybe arrive with a “Competitive Market Analysis” (which no longer is an accurate tool, I’ll cover that in another report) and they each recommend a specific sales price.

Amazingly, two of the Realtors have suggested prices that are lower than what you expected. Even though they have backed up their recommendations with recent sales data of similar homes, you remain convinced your property is worth more.

When you interview the third Realtor’s figures, his or her numbers are much more in line with what you think your home is worth. Or they may have even suggested to you a higher price. Wow! Now you are happy and an exited home seller, perhaps already counting the money.

   A Sales Practice Called “Buying a Listing”

If you are like most people, you have chosen Realtor number three. This is a Realtor who seems willing to listen to your input and work with you. This is a Realtor that cares about putting the most money in your pocket. This is a Realtor that is willing to start out at your price and if you need to drop the price later, you can do that easily, right?

 After all, everyone else does it! Wrong!

The truth is that you may have just met a Realtor engaging in a questionable sales practice called “buying a listing.” He/she “bought” the listing by suggesting you might be able to get a higher sales price than the other realtors recommended. Most likely, he or she is quite doubtful that your home will actually sell at that price. The intention from the beginning is to eventually talk you into lowering the price.

  Why do some “buy” listings this way?

There are basically two reasons: A well-meaning and hardworking Realtor can feel pressure from a homeowner who has an inflated perception of their home’s value. On the other hand, there are some who engage in this practice routinely.

Overpricing a property in London Ontario

If you start out with a price that is too high, there is likelihood you interviewed other Realtors. They did not get the listing, of course. They got “beaten” out by someone telling you what you wanted to hear.

If your listing Realtor routinely engages in “buying “listings, he/she has probably has done this to other Realtors in the same way. Word gets around that their homes are overpriced and the home seller has an inflated value in mind. This can be very difficult to resolve.

In short, you may have ended up with a Realtor who was good at selling you, but not good at selling your home. And you are willing to pay them a fee for it?

wasting your time

It is human nature for you to want the highest price for your home. However, when you choose the Realtor who promises what you want to hear, it often leads to stress and frustration. Most of the time, it will take you longer to sell your home. Possibly, and this happens, you will end up selling at a lower price instead.

Or maybe as a result of reading this, you will choose one of the “good” Realtors in the first place. They are out there, you know!

What Happens Behind the Scenes?

If you start out with too high a price on your home, you may have added to your stress level—and selling a home is stressful enough! There will be a lot of “behind the scenes” action taking place that you don’t know about. Contrary to popular opinion, a professional listing Realtor does not usually attempt to sell your home directly to a homebuyer. That would be inefficient.

Pro’s market and promote your home to hundreds of other local Realtors and even Realtors from the GTA areas who do work with homebuyers, dramatically increasing your personal sales force. During the first couple of weeks your home should be a flurry of activity with buyer’s agents coming to preview your home so they can sell it to their clients. (See my report “When is the most important time for a new listing)

   If The Price Is Right

If you and your Realtor have overpriced, fewer Realtors will preview your home. After all, they are Realtors, and it should be their job to know local market conditions and home values. If your property is dramatically above market, why waste time? Their time is better spent previewing homes that are priced realistically.

  Dropping Your Price Too Lat

  If you start out with a high sales price, then drop it later—your property is “old news”. You will never be able to recapture that flurry of initial activity you would have had with a realistic price. Your property could take longer to sell.

Price reduced

 

Even if you do successfully sell at above market price to an uninformed buyer, your buyer will need a mortgage. The mortgage lender requires an appraisal. If comparable sales for the last six months and current market conditions do not support your sales price, the property won’t appraise. Your deal falls apart. Of course, you can always attempt to negotiate the price, but only if the buyer is willing to listen.

Your property then goes “back on the market”. Other Realtors will know this, as will their buyers, what do you think their response will be to your home?

Once your home sits on the market awhile, it is harder to get a good offer. Potential buyers will think that you might be getting desperate, so they will make low offers. By overpricing your home in the beginning, you could actually end up settling for a lower price than you would have normally received.

 In summary, when you decide to sell your property, why not work with someone who knows the market and is financially and emotionally strong enough to guide you? Who will not tell you what you want to hear. The truth hurts but you might as well hear it now than 3 months later! To get results, let’s discuss your options and let you start packing!

Get More Money For Your London Ontario Condo

Want To Maximize Top Dollar For Your Condo?  Experts Say “Start Planning 60-Days Ahead”

   What you do in the months before you put your condo on the market will determine how long your condo will take to sell, how much money you’ll get and how easy (or difficult) your selling experience will be.

Dress up your condo to sell

Yes, the real estate market in London Ontario is hot right now, (up 44%), you can make it hotter .

There are some simple things that you can and should be doing right now to make sure you’ll get the highest price in the least amount of time.

If you’re going to be selling your condo in London in the next 1-6 months, my “Room-by-Room Review” will show you the very best things you could do to prepare your condo for sale, and get the highest return on your investment.

I’ll also point out things you shouldn’t do…things that you won’t get your money back on. I will also leave you a market review of your condo corporation and the latest inovative marketing tips to sell your condo.

Of course, you are under no obligation whatsoever, book your review today!

Think Like a Buyer When Selling a Condo in London Ontario

Of all the things condo owners control when selling a condo in London Ontario, the condition of the interior is one of the most important. A crucial part of marketing anything is the presentation.

The same is true for real estate. In order to compete effectively with other condos for sale in London, condo owners must present their unit to the marketplace in an attractive, desirable condition. When you bought your condo, you probably comparison-shopped. Well, buyers still do that today. According to The Canadian Real Estate Association  (CREA), the average home buyer looks at 12 to 16 properties prior to buying a home in London Ontario.

Looking for a condo on MLS

  Think like a Condo Buyer Would!

You are not just selling a piece of real estate. You are selling shelter, a lifestyle and dreams. Buyers arriving at your front door want to find the right condo so do not make them search somewhere else. If you do your homework, every room in your condo will create a reason for the buyer to stay.

You have heard of curb appeal, I’m sure? While your condo building or corporation is in charge of exterior and ground maintenance, you are in control of the interior.

Do you know that many condo owners sellers and their listing agent apparently have not heard? You’ve got less than 10 seconds to make a great first impression and when it can mean thousands of dollars in your pocket, why not do something about it?

   Why do some condos sell within 3-10 days and others in two months or never? You won’t believe the condition of some condos I have shown, even in the $400,000 range! A few thousand dollars in paint, or flooring or lighting can make a huge difference.

Do you not think that after 60-90 days, price and condition have something to do with it?

101 Tips to dress up your condo

Maximize The Sale Price Of Your London Ontario Condo

Want To Maximize The Sale Price For Your Condo?  Experts Say “Start Planning 15-Days Ahead”

   What you do in the days before you put your condo on the market will determine how long your condo will take to sell, how much money you’ll get and how easy (or difficult) your selling experience will be.

maximize sale price of your London Ontario Condo

There are some simple things that you can and should be doing right now to make sure you’ll get the highest price in the least amount of time.

Condos in London Ontario are selling, especially townhouses for full price or even 5-15% more. However, why are some selling for asking price and others for more?

Here is a case in point that I was involved in this weekend. I was representing a buyer who was looking for a townhouse in this complex because of the neighbourhood and proximity to her employment.

There were 3 for sale , all listed within 24 hours. I requested appointments to see all 3 with my client and gave 24 hours notice to the listing agents. Two replied back within the hour, the other never got back to me, even after 3 calls including two emails.

Any way, it is now Monday and all are sold! The one that the agent did not get back to me sold for $1,000 for under the asking price.

One sold for $10,000 over asking price and the other $18,000 over! Was there much difference in condition or features? No there was not. Why the huge spread among the almost identical 3 units?

  • One unit had all the lights on, window drapes open and you could tell, freshly cleaned top to bottom, the listing had lots of pictures that showed the unit fairly, in other words, pictures were not air brushed etc.
  • One unit , which actually was the nicest of the 3, beds were not made, the listing information was incorrect and dishes in the sink.
  • The unit we could not see was sold by the listing sales person, she represented both parties and as I mentioned, it sold for $1,000 less than asking and from the pictures, looked really nice!

offer to buy a condo

Strategy and the planning of when you list, how you list, how easy you make it for buyers to see your place and know what to expect will make a huge difference in your selling price.

If you’re going to be selling your condo in London in the few months, my “Room-by-Room Review & Audit” will show you the very best things you could do to prepare your condo for sale, and get the highest return on your investment. There is no charge for this.

What is the catch?

I get to see your condo, you get to meet me and if you like what I do, when it comes time to put your condo on the market on MLS, you might give me a chance to help you.

I’ll also point out things you shouldn’t do…things that you won’t get your money back on. I will also leave you a market review of your condo corporation and the latest innovative marketing tips to sell your condo.

Of course, you are under no obligation whatsoever, book your review today! This is not a sales presentation, nor any pressure to list, no signing anything , actually, no pressure at all.

How to Price a London Ontario Condo To Sell

How to price a London Ontario Condo to sell is a question most owners and some Realtors ask themselves. Every condo owner has the best intentions when it comes time to sell their condo in London Ontario.  The natural inclination is to price the condo high, thinking they can always come down in the future.

How to price a London Ontario condo to sell

But a listing price that is too high frequently nets the seller LESS money than an original price at market value.

Why is this?

Buyers are smart, they are on search portals every day looking at condos similar to yours, so , they know about pricing and usually from the pictures, the condition and when  looking for condos in your price range, they will reject your condo in favour of other condos in a reasonable price range.

And here’s the real clincher:  Sales Representatives who would readily bring buyers through your condo will automatically cross it off their showing schedule because it’s priced too high.  They’re motivated to show condos in London with the highest probability of selling.  A wise Realtor will simply will not show overpriced condos ,they know market values because it’s their job to know.

So you price your condo high, thinking you can come down.  Problem is, the Realtor and buyer community don’t look at it that way.  They see it as an overpriced condo.  After a few months go by, three or 4 open houses,  agent tours…and not a nibble.

So you decide to lower your price again.  But it may be too late…your condo has already been “branded” as over priced.  So you reduce your condo a little more. And little happens. (Oh, you will get showings but you are helping the competition sell their condo when comparing yours to someone else who is priced properly!)

Finally, in order to attract attention back to your condo, you’ve reduced your condo price more than you ever thought you would, and you’re now netting much less than if you had priced it correctly in the beginning.

And think about this:

The money you lost is not just the lower sales price, but all the extra interest you paid on your mortgage…all the extra property taxes and other carrying costs that accrue while your condo is waiting to sell.  I’ve seen it happen time and again!

Real Estate Fact: A home seller is 100%  responsible for how much, and how quickly their condo in London Ontario sells! 

Yes, you listened to your listing Realtor about price and you interviewed others and you chose your Realtor because you felt they could market your condo , but if it does not happen in a reasonable time frame, who do you point fingers at?

Selling a condo in London Ontario should not be guess work!