One of the most overlooked facts in today’s competitive real estate market, especially in this great city of ours, is that getting off on the right track when it comes to listing your home or condo is the single most critical factor towards determining how successfully you will sell.
It might help to understand how the process actually works. Once you post your home on the MLS with a qualified realtor, the most activity you will get is the day immediately after. This is the day when most people and agents will first come across it. After this point the only common way buyers and/or agents will come across it is during manual searches. Therefore, if the day right after the posting is crucial, which it is, it stands to good reason the listing itself be 110 per cent perfect from the first second it’s posted. This means all details, facts and figures be as accurate as they are extensive. It also means that proper, flattering pictures be taken and posted along with the listing. Above all else, it is the agent’s responsibility to ensure the day after the listing goes up she or he is in a capacity to handle all incoming calls. You should ask for a copy of the listing so that you can view it with your own eyes. You also might want to ensure the realtor includes a cellphone number on the listing. I can’t tell you how difficult it can be to track down a realtor at a hectic office on a Monday morning.
The listing itself is only one of the major aspects of the actual sale of your home. It’s equally vital a proper plan of attack be formulated, prior to any listing. You don’t go hunting before knowing the game you’re after. To take a recent personal example, I had a fairly desirable condo in a fairly desirable building about a week ago. The owner wanted to move out within a month and — here’s a shocker — wanted to get the most he could for his place. We listed the property about $5,000 above the highest sold price of any comparable unit in the building and sold the unit at another $5,000 above asking, in less than 24 hours. That’s $10,000 above what might have been reasonably expected.
The reason we were able to finalize such a desirable deal was due to the perfect execution of a well laid out plan, which took into account all necessary, relevant factors, including timing, competition and readiness. I knew the building was in high demand, and specifically for that particular type of unit. I knew I could afford to expect a high return because of the significant gap between supply and demand, in this specific instance. I also knew it would occur very quickly because of all these factors, and actually held off posting the listing for a full week after the papers were signed so the place was vacant and sparkling clean, and that it was posted at a time when the most eyes possible would see it.
The lesson? Don’t rush to post your listing and instead take the time necessary to post it right the first time. If you need to rush, be prepared to make the necessary sacrifices to secure the best possible price, if such a goal is important to you. Above all else, have a plan of action in place so the sale of your property isn’t an accomplishment but more a virtual guarantee. I know this because it’s my job to know, but I want every seller out there to know all this because it’s in your best interests to know. Happy hunting!