We’ve helped many people who are selling a house in Calgary. Here are 21 observations about the selling process. (We’ve also helped many buy in and around Calgary!)
- It’s easy to become attached to a house even though it’s just a thing. Our memories are tied to the place and the things in that place. And, letting go is hard. The longer you have lived there, the harder it is. The more you sacrificed to get there, the harder it is to let go while selling a house. Until you do, and then it is on to the next phase.
It’s easy to become attached to a house even though it’s just a thing.
Bill Leesman, Team Leesman CARES
- Selling a house is more work than you think. The packing, the cleaning, the preparation. And the excitement. All rolled into one. Then there is the constant cleaning, evacuating and hoping. Add to that the signage, the paperwork, the negotiations and on and on.
- The dollar amount people need when they sell isn’t relevant to what the market will pay. When it matches, that’s called a happy coincidence. Fortunately, if you are buying in the same market as you are selling, it may not matter. And, it is not your Realtor’s® fault. They are the messenger. The market itself doesn’t care.
- Unless you do this every day, selling is harder than most people expect. The entire process will seem stressful and complex. That is why you hire professionals – Realtors®, lawyers, financial advisors, and inspectors. Regulations change. Contracts adjust over time. The market shifts.
Even if you do this more than the average person, you will need professionals to help you through the process.
Bill Leesman, Team Leesman CARES
- You will always feel doubt. Buyer’s remorse is real. So is seller’s regret. Did I make the right decision? Could I have sold for more? In, the end, most people find they made the right choice and then get on with their lives.
In the moment and sometimes in the middle of transactions, we lose sight of our goals and have doubts. That is perfectly normal.
Bill Leesman, Team Leesman CARES
- Pets and kids can make selling a home even more of a challenge. Perpetually cleaning up after kids of all ages, and pets, is tough. They don’t always cooperate. The mess, the smells. It all matters when trying to make a great first impression. Remember, it’s hard on them too. Looking at creative solutions is critical. Sign a contract with your kids or bribe them to cooperate-whichever suits your family better!
- Comparing your home to every other one on the market is natural. But, often sellers don’t consider all of the factors the way the market does. A working furnace and a new furnace are not the same. All flooring is not created equal. Buyers expect a home to match their expectations and your memories are of no value to them. To get top dollar, your house has to be the best in the market compared to your competition. Buyers are paying attention.
- Remember the old adage about location, location, location. It’s true. All streets are not created equal. All neighborhoods do not demand the same value. Buyers will not pay the same for a busy location as they will for a quiet location. Even if your house is a little nicer. But, that was probably the same when you bought too.
- Open houses have changed. At one time, it was a great way for agents to showcase your home. Today, more precautions have to be taken (with Covid-19). More and more, potential buyers are viewing during an open house in order to eliminate a place or narrow their list before involving their agent.
- Whatever you do, put your ego aside. This is not a zero-sum game. Review all offers. If it seems too low or unreasonable, counter with something that makes sense. If it is closer, but still lower than you want, counter with something that still makes sense. If it is almost there, maybe the best thing is to come to a mutual agreement to be able to reach your goals.
Real estate is not a zero-sum game. It will depend on many factors, including what your best alternative is to what is being presented to you.
Bill Leesman, Team Leesman CARES
- Don’t take feedback personally. The buyers and their agents don’t know you. But, their feedback can give you a look into their minds and the thoughts of a buyer. If there is a consistency to the feedback, it can, and should be, an indicator as to what you can do to get your home sold.
- Price isn’t always the problem, but it is always a solution. Sometimes, the feedback will give insight to something you can do to make a property more attractive to buyers. Sometimes, that something is more than you can or are willing to do. When that happens, you can adjust your asking price.
- When it comes to price, it is you who decides the asking price. Your agent is there to provide you with the market knowledge to help you decide on a price that meets your goals, fits the market, is reasonable for the house. But, it is the buyer (and bank appraiser) who decides if the price is reasonable. If an asking price is too high, buyers will not make an offer. They will choose not to view the property, or, if they do, will walk away. So pricing high does not give you a chance to negotiate. It just makes you frustrated, especially in a buyer’s market. It is an agent’s choice to determine whether or not it is realistic to market a property at your chosen list price.
- Just because you get offers on your home quickly, does not mean you priced it too low. It only takes one buyer at any given time. If you have maintained your home, presented it well and priced it by the market data, there is no telling when it will sell. If the buyer who wants your home has been looking for a while, they will buy it quickly.
A quick offer does not mean the property was priced too low. It means someone was looking, liked what they saw, based on the effort and pricing put into the preparation of marketing your house.
Bill Leesman, Team Leesman CARES
- Time is of the essence. If a property does not get offers within the first month, then the market is saying no to the property as it is currently offered. Either it is seen to be of less value than others available or seen as too high for what it is. Once it passes into month two and three, it becomes “one of those houses”. Something must be wrong with it, buyers will say.
- Not all properties sell. What!?! Is that true? Yes, even in the most aggressive seller’s market, there are properties that do not sell. So, just putting a sign up expecting a buyer to come by, will not work. It takes a strategy that fits, for a property to sell.
- Sellers often want to find the right house before listing their property. This can work for a few people. For most, it does not work. They sometimes will find the right home and then not be able to act on it. Most of us have to use financing and it is better that we know what that looks like prior to starting the home hunt. There are options.
- It is the sum of the little things that often help when selling a house. Cleanliness counts. If a buyers sees grime, they wonder what is under the sofa. If they see small things not fixed, they wonder what big things are left undone. If they have to navigate around each room, they will not explore the house fully. All of these things can delay selling.
- Inspections WILL always turn up something. There is no perfect house. Regular scheduled maintenance will likely encourage a buyer to not walk away because of an inspection. They may ask for some concessions but, if you have taken care of the big stuff, the little stuff is generally a breeze.
- Selling a house is a process. Skipping steps will most likely end in failure the first time out. Pick an agent you can work with. Prepare your home to be attractive to a client in a competitive world. Price it to meet the market. Plan to respond to feedback. Marketing and promotion are needed expenses your agent should invest in. Ensure you have protections in place.
- It’s impossible for us to not become emotionally involved in every transaction. Not that we try not to. We need to be the calm in the storm though, so to speak. But, whether we show it or not, we’re laughing, crying and stressing right along with you. We are as invested in helping you sell as you are. We are not passionate about real estate. We are passionate about providing our clients a stellar real estate experience. Your success is our success.
Added bonus: Notice that we’ve been talking about selling your house and not your home? Your house is the physical structure you leave behind. Your home and memories are what you take with you on the next leg of your journey. Keep this in mind when you are selling a house!