When you’re selling your home, one of the first major decisions you’ll have to make what your initial list price will be. The truth is, there’s a lot more to it than most sellers believe. Set your price too high, and you may not get any offers. Too low, and you may not receive full value for it (in fact, some buyers may even believe there’s something wrong with your property and move on).

Contrary to what many homeowners believe, you can’t base your selling price on what you paid when you purchased the home. The good news is that it’s unlikely that your home has decreased in value, especially if you owned it for several years.

It’s not unreasonable to expect a positive return when selling, but it all depends on the current market.
Extensive background research is a must, and a finely-tuned instinct about local real estate will also help. These are just a few reasons why working with an agent who knows the ins and outs of pricing is crucial.

If you’re preparing to sell your home, here’s what you need to know about setting the perfect price.

Curious about what your home might be worth in today’s market? Book a free evaluation right here.

A Realistic Home Price Can Earn You More

If you want to earn the highest possible amount from your home, setting a higher price might seem to make more sense. A little wiggle room at the top means you can negotiate with buyers and still come out ahead. However, this advice is badly out-of-date. Many experts would argue it was never valid in the first place.

That’s why our team members at Woolcott Real Estate go deep when it comes to uncovering the right price for your listing. Using the latest information and analyzing the market trends allows us to pinpoint a value that generates a high level of excitement to attract as many potential buyers as possible. This is what happens when we find the perfect sweet spot, neither too high nor too low.

Pricing is one of the most critical factors in whether your home sells or for how much. You’ll find even more helpful resources in the posts below:

• 8 Important Things to Remember When Selling Your Home
• Why Did My Neighbour’s House Sell but Mine Didn’t?
• What’s Your House Really Worth?

Understanding the Real Estate Market

Setting a high price doesn’t help if you can’t find a buyer who will pay what you are asking. The local market will have a massive impact on the amount that makes sense for your home. Let’s start with how much demand is out there right now for a house like yours —and how does it stack up against supply?

• When demand is sky high, that will be reflected in your price. If inventory levels are also low, buyers will naturally expect to pay more.
• If buyers are scarce, you may have to consider a lower starting price to get people interested in your home. This goes double if inventory levels are high.

No matter how you look at it, ongoing market trends are bound to play a role in what buyers will pay for your property. It’s not about how much you feel like your house should be worth. It’s about its value in the eyes of buyers who are seriously considering a purchase.

Timing can also matter. For example, spring is typically the most active season for Hamilton and Burlington real estate. Buyers who flood the market at this (usually competitive) time of year may be willing to pay a little more for their dream home. That said, seasonality has taken a back seat to market conditions in recent years. With a well-thought-out strategy, anytime can be a great time to sell.

Lastly, economic factors can have a significant impact on home prices. Interest rates—especially those that apply to mortgages—affect the number of buyers who can afford to purchase. This is something else you must factor in when deciding on your price.

If your price is on point, the next step is to execute a solid marketing strategy. You can learn all about our process in Our Full-Service Real Estate Team’s Guide to Marketing Your Home.

Your Comparable Market Analysis (CMA)

The only way to accurately price a home is to form a clear picture of what buyers are willing to pay for it. To uncover this information, your real estate agent will look at recent market activity in your neighbourhood—and pull together a comparable market analysis (CMA).

This crucial document will look at recent sold prices for local homes that are very similar to yours. Location—including schools, amenities, and overall desirability—is one of the most critical factors. When it comes to the property in question, everything from square footage and number of bed and bathrooms to overall age, condition, and layout is going to be relevant. If your property has any highly-unique or unusual features, your agent will look at those too!

Let’s imagine your CMA turns up a number that leaves you less than thrilled. Is there anything you can do? The good news is that some updates or upgrades can impact the value of your home, so be sure to hold on to those records and receipts. The key is to know what will offer the best return for the least investment and focus on what matters most. Even then, it’s important to remain realistic about current market conditions.

Showcasing your home in its best light can help you earn more from your sale. The posts below will give you some ideas:

Worth It or Not? What Renovations Really Help When Selling Your Home

The Power of Staging When Selling Your Home

Minor Upgrades, Maximum Results

A Customized Strategy for You

Finding useful comparables is both an art and a science. Only an experienced local agent can examine all the relevant factors, find truly similar properties, and make informed recommendations based on what they find. Having said that, the sum you settle on is ultimately up to you.

That’s why a true professional will also factor in your goals and preferences. For example, if you’re adamant about trying to get multiple offers (and it makes sense given current conditions), your agent might suggest pricing on the lower end of your potential range. This step can drum up competing bids in a hot market.

While many sellers have ideas about what their home is worth, they’re often based on anecdotes that you should take with a grain of salt. Fortunately, a skilled local agent can help you strike just the right balance—and achieve your selling goals!

Interested in learning more about the selling process? Our Hamilton and Burlington real estate agents are happy to answer all of your questions. Contact us here or call 905-332-9223 to connect with an expert today.

You have no shortage of options when searching for a real estate agent to help you sell your home. Everywhere you look, there’s a billboard with some of the top names in the industry smiling down at you. The question is, how do you narrow it down? Expert representation often means the difference between lacklustre results (or even no sale at all) and earning top dollar in minimum time.

With so much at stake, this is one decision that you want to get right. The first step is to determine what criteria matters most to you. One of the most significant questions is whether the agent you’re considering is local. Do they regularly work in the area where you live (if you’re selling) or the community where you’re hoping to buy? Though any licensed agent can help you from anywhere, a local expert is likely to get you the best results.

Here are a few reasons why you should work with a local real estate agent.

They Know the Area Intimately

As a seller, a professional who knows your community will be well-positioned to prepare and market your property for your target demographic. They know the community inside and out, such as where the best parks are and the catchment areas of all the top schools. There’s just something more personal about working with an agent who can recommend a great cafe or restaurant nearby.

Local agents also know the buyers and what they are looking for. They can answer every question about the community with confidence, which helps to make your home and neighbourhood even more attractive.

Need more advice on how to maximize your sale in any market? You’ll find plenty in the posts below:

• Selling Your House in Hamilton? Here’s How to Make the Most of It
• 8 Important Things to Remember When Selling Your Home
• Minor Upgrades, Maximum Results

They Understand Pricing at a Deeper Level

Pricing a house seems simple in theory. In practice, it’s a completely different story. And almost nothing matters more when it comes to a fast sale at the highest amount. A little too high, and many people won’t consider your listing seriously, which reduces your ability to capitalize on early excitement about your home. Too low, and you are likely to sell for less than you should.

While anyone can look up the latest data on the real estate board website, it takes a true local to fully understand what those numbers mean to the buyers actively searching. An agent with a thorough understanding of the local market will be able to pull together an incredibly thorough comparative market analysis (CMA). Knowing the ins and outs of local home prices will work to your advantage during negotiations.

Setting a compelling price begins with knowing the current market. Learn more in What’s Your House Really Worth?

They Know What Buyers Want

When an agent prepares your home for the market, they consider your “most likely buyer.” They create a very real, life-like profile of this person and get to know what they want and what they prefer to avoid.

From pricing to staging to marketing and beyond, a strategic plan will be based in part on local knowledge. Of course, a true professional will also understand potential buyers coming from outside the area, like from Toronto and the GTA.

Knowing the buyer’s mindset is essential when selling your house. Learn more in Why Home Sellers Need to Think More Like Buyers.

They Have Local Connections

Imagine this. Shortly after you’ve listed your home, a pipe breaks. You don’t have a reliable go-to professional. You can’t just pretend you don’t notice since you legally must disclose this flaw to buyers. Without a well-connected real estate agent in the vicinity, you may start to panic.

The good news is, a local agent with a strong network can refer you to a trusted contractor who can make the repair. And just like that – your home is show-worthy again!

The same is true if you need top-notch local cleaning, staging, landscaping services or a really good real estate lawyer. No matter what, your agent should be the first person you ask. After years of living and working in a community, a respected real estate agent has many opportunities to build strong professional networks—which is good for their clients.

Need to troubleshoot your home sale? The posts below will help you overcome almost any obstacle:

• Why Am I Not Getting Offers on My Home?
• The Deal Fell Through. What Happens Now?
• Why Did My Neighbour’s House Sell but Mine Didn’t?

They’re Available

Few things are more frustrating than not being able to get a hold or your agent when you have an urgent question. As a seller, you want someone you trust and who will be there for you when it matters most. Any professional who offers a high level of service doesn’t make their clients wait long. They’ll jump at the chance to call or even meet up with you in person to keep you in the loop.

Working with a local agent may not seem crucial, but it could actually make the difference between receiving top-tier service and…not. It’s best to keep that in mind when you’re choosing a professional to work with!

Ready to start your buying or selling journey with a local agent? Get in touch right here or call our offices at 905-332-9223 to find out if we’ll be a good match!

Selling a home can be emotionally difficult. There is so much background work to do and moving parts to deal with that it’s easy to feel overwhelmed right from the beginning. When the home isn’t your own, these challenges rise to a whole new level.

When an older parent or relative becomes ill or suddenly passes, you want to take time to heal and be with your family. Attending to the details of a real estate transaction is likely the last thing you want to deal with. As difficult as the process can be, selling the home is often the best step to help your family move forward. In this post, we’ll provide you with some valuable guidance to help you through the process as seamlessly as possible.

Plan for the Long Term

Drew Woolcottt, our broker of record at Re/Max Escarpment Woolcott Realty Inc, reports that “Selling a home suddenly for an elderly parent can be very tough on clients. When you’re not prepared in advance, it can be tough for all involved.”

There are a number of important and crucial items to keep in mind to ensure the property’s best interests are kept intact during the sale and that emotions don’t override these decisions. Planning as many details in advance will not just make the process easier, but also faster, less painful, and even more profitable.

Will you need to be a Power of Attorney or Executor before selling your parent’s home? Learn more in Selling a Home for Someone Else? Here’s What You Need to Know.

Ensure Wills Are in Place

The loss of a family member is hard enough. With no Will in place to provide clear instructions, it can be even worse. It’s not just family conflict, but probate will also take longer. In the end, more of your loved one’s financial resources could end up with the courts instead of their beneficiaries.

The best way to protect your loved ones is for everyone in the family who has assets or owns property to have an updated and clear Will. Woolcott Real Estate recommends speaking to a lawyer who specializes in estate planning to help guide you through the process.

If you or your parents have been out of the real estate market for a long time, the posts below will help you be a more educated seller:

• What’s in Your Listing Agreement?
• What Real Estate Lawyers Do
• How To Negotiate A Real Estate Contract

Contact the Bank or Mortgage Holder

Since many people don’t intend to suddenly sell the home, mortgage penalties may be the last thing on your mind. An unexpected sale can change all of that. Often, there may be extra costs when breaking a mortgage early.

Sit down with your parent’s mortgage broker or bank to determine how much they still owe, and what, if any, penalties you may face. This might also be something to negotiate next time the mortgage comes up for renewal!

Keep Account Numbers in One Place

One of the most difficult challenges when someone suddenly gets too ill to manage their affairs or passes away is to find all of the account numbers associated with everything. When selling the home for someone else, you’ll need access to financial documents and all utilities to be able to close the transaction.

Your loved one can help right now by making a list of everything and keeping it all in one place. This will also help to manage any unexpected costs and ensure a smooth closing.

Are you ready to list your parents’ home? The posts below will help you to prepare to dazzle potential buyers:

• A Back to Basics Guide to Maximizing Your Sale
• Worth It or Not? What Renovations Really Help When Selling Your Home
• Our Full-Service Real Estate Team’s Guide to Marketing Your Home

Declutter the Home

Cleaning out your loved one’s belongings is another emotional challenge. It’s hard if they are still living and moving to an assisted living facility. If they have passed away, the emotions are even more raw.

That said, you’ll need the home to be clean and show-worthy if you want a successful sale. Fortunately, help is available. Your friends and family members may be able to chip in. If the task really gets to be too much, a professional cleaner can take over and have the house looking beautiful before you know it.

Do you need extra care and guidance when selling a family member’s home? Our top Hamilton and Burlington real estate agents have worked with countless families who have had to sell unexpectedly. Reach out to us here or call 905-332-9223 for more information.

Are your parents having trouble getting around their house? Do you worry that one of them might fall or have an accident? Perhaps they’re finding it more difficult to perform day-to-day chores. Though this is something many of us hope to never face, the time may come when it’s our turn to help our parents make a positive change.

Your mom and dad may benefit from downsizing from their large family home. Moving into a smaller space can provide them with a safer, lower-maintenance lifestyle—and help ensure that their retirement dollars go further. That said, having “the talk” will likely be nerve-racking. Fortunately, there are some steps you can take to make it easier.

Here are five tips for having a successful downsizing talk with your parents.

Ease Into It

Nobody wants to be told what to do, even when in their heart of hearts, they know it’s the right step. This is especially when it comes to a life-changing decision. Fortunately, you can bring up the idea of downsizing without coming across as forceful. The key is to introduce the idea slowly.

If you’ve noticed that your parents aren’t taking care of their home like they used to, you can mention it—gently. There’s nothing wrong with noting how big the house is, and how much time it must take to maintain it. If there are entire rooms that they haven’t used for anything but storage, that’s also worth mention. When you’re ready to address the need to downsize directly, your past talks will likely make mom and dad more receptive to the idea.

Offer to Help

If your parents have been in their house for many years, it may be especially difficult for them to think about moving. They have many years and memories invested here, and it’s hard to imagine anywhere else feeling like “home.” That’s why it’s so important to honour the time they’ve spent there. Start by looking at old photographs and talking about shared experiences.

From there, you can start to tackle the decluttering process. Even if your parents are in no rush to put their home on the market, you can help them take the first steps by decluttering as a family. You may be surprised by how much fun it is to spend a weekend finding hidden treasures in closets and drawers. And a house that is clean, organized, and clutter free can feel completely new!

Selling a house for someone else can be the most challenging of all real estate transactions. The valuable resources below can help:

• How Do You Sell the House of Your Loved One?
• What Resources Are Available When Selling a Family Member’s House?
• Do I Really Have to Update My Home Before Selling It?

Present Multiple Options

Before you sit down to have the talk, do your research. Look for appropriate townhomes, condos, or assisted living communities in the area. You’ll want to keep an eye out for places that offer advantages their house doesn’t—like a location they might like better. A local real estate agent can help you do some comparison shopping.

When it’s time to discuss available options, don’t bombard your parents with information. Tell them you wanted to get a sense of what’s out there, and let them know that you’d love to share what you’ve discovered.

Downsizing can be a positive experience when your parents have something to look forward to. To learn more, read Should You Sell Your Home and Become a Snowbird?

Highlight the Positive

While downsizing can be painful, it usually comes with some pretty significant benefits. If your parents move to a condo, there will be no more shovelling snow or raking leaves. If the place they choose is affordable, it will mean more money to spend on travel and other experiences they might enjoy. Be sure to highlight these advantages when you talk.

The truth is, routine can make it difficult to imagine living differently. When you’re talking to your parents about downsizing, get them to think about a new (and exciting) lifestyle. It could go a long way towards getting them on board.

Achieving the best results when selling the family home can help your parents live comfortably in retirement. The posts below can help:

• 8 Important Things to Remember When Selling Your Home
• Worth It or Not? What Renovations Really Help When Selling Your Home
• The Power of Staging When Selling Your Home

Make a Plan

The more prepared you are, the more likely it is that your discussion will go well. If you have siblings, you may want to gather them together to make sure you’re all on the same page. Whether you want to approach your parents as a group or you’re simply looking to coordinate logistics, this is the time to do it.

One of the most important steps you’ll want to take is thinking through the objections your parents might raise, and getting ready to respond. While having the downsizing talk probably won’t be easy, ensuring you’re prepared will set you up for success. All it takes is some research, forethought, and careful planning!

Ready to start exploring your parents’ downsizing options? Get in touch—we’d love to help them find the perfect smaller space! Reach out today or call 905-332-9223 to connect with our office.

The real estate market has changed drastically over the last few years. It’s hard to believe there was ever a time when people bought and sold houses without using the Internet! Now, more than 90 per cent of home searches begin online.

High quality photos are no longer “nice to have;” they are an absolute must. Another result of the end user having direct access to online listings is how much faster everything moves. It means these spectacular, eye-catching images need to be ready before your house is even listed. In this post, we’ll dive into how you can make your listing stand out in a crowded market and make the most of your sale.

An accurate price point is essential when selling your home, and a free home evaluation is a great way to start. Book yours today right here.

The Value of First Impressions

Unfortunately, quality photos are often the first thing on the chopping block by sellers who are hoping to save money. It’s easy to understand the temptation. Why pay for a photographer when you can just take pictures with your smartphone? You would also save a lot of time since you wouldn’t have to book and prepare for an appointment.

But remember that online images are an integral piece of the home buying process, and this is one place you don’t want to skimp out. Photos create a large part of the first impression a buyer has when viewing homes online. They are the difference between whether a buyer decides to take the next step and visit your home in person or just click “next.”

Are you facing a particularly unique challenge when selling your home? The resources below can help:

• Can You Successfully Sell a House With a Stigma?
• How to Sell Your Home After a Divorce
• Why Sellers Hesitate to List Their Homes for Sale

DIY or Professional Photos?

The problem with using cell phone pictures is they often turn out grainy, which no longer makes the cut during a competitive market. But what if you or a friend are talented in photography and well known for your spectacular images? The pictures from your last vacation might make anyone viewing them feel as though they are right there in person. And the scenery in your images might be absolutely breathtaking.

However, there’s a difference between fantastic pictures and real estate photography. Your images don’t need to just look sharp; they need to showcase the house in the most ideal lighting from the perfect vantage points. This is a fine art that many real estate photographers have specifically trained for.

Woolcott Real Estate believes that magazine-quality photos are so important that we have an in-house photographer and videographer to help our sellers put their foot forward. Superb photos combined with beautiful staging helps to generate excitement about your home the minute your listing becomes active.

How Listing Photos Maximize Exposure

When a buyer starts searching for a new home, they usually turn to the MLS® and Realtor.ca. When a new listing goes up, it is emailed to buyers who have set criteria up that match that listing. Depending on the market and the amount of available inventory, countless listings can pop up.

At this point, photos are just a given. Being the one listing without images can really hurt your chances as a seller. Remember that text is also limited, so you typically can’t describe your property and all of its benefits in full detail. Some property websites won’t even allow a listing without photos, which can be a missed opportunity to reach potential buyers.

The old adage about a picture being worth a thousand words is true when it comes to the MLS®! In addition, listings without photos aren’t shared nearly as often, which can drastically reduce your exposure. With buyers savvier than ever, making a fantastic first impression is no longer a luxury.

Before taking photos, first make sure your house looks show worthy! The posts below will help you make that all important first impression:

• The Power of Staging When Selling Your Home
• Does Curb Appeal Still Matter When Selling A House Today?
• Minor Upgrades, Maximum Results

An Essential Part of Your Home Selling Strategy

As critical as images are, they are just one part of a well-thought-out strategy. These photos should capture the best highlights of your home and inspire potential buyers to imagine themselves living there.

This begins with presenting your home in its best possible light to begin with. Quality photos don’t help if they showcase a messy front foyer, dying flowers in the garden, or old, peeling paint. The trick is to turn your house into an eye-catching showstopper, then arrange for the photography.

From there, magazine-quality photos are part of your marketing plan. They’re what get the attention of potential buyers in the first place when they start browsing online. And beautiful feature sheets can keep buyers interested after an in person visit. As part of your strategy, professional photos and videos can help sell your home faster while maximizing your profits!

To learn more about how to make the most of your sale, get in touch with our top Hamilton and Burlington agents today. Connect with us here or call our offices at 905-332-9223 to get started.

The current value of your home is nearly always at the top of your mind when you begin to think about selling. It doesn’t matter if your big move is imminent or a few years down the line. Knowing what your property is worth informs your entire selling strategy, from setting a competitive price to knowing what upgrades to make and how to reach your most likely buyer..

Unfortunately, it can also be pretty challenging to get a handle of the monetary value of your home in today’s topsy-turvy market. One minute everything is up and prices are rising by the minute; the next, we are at a stand still. In addition, it can be disheartening if you had a home evaluation months ago during a hot market and values have since dropped.

All the same, a clear and accurate picture is essential if you want to achieve the best possible results from your sale. In this post, we’ll give you a few insider tips and resources so you can enter the market at a premium price point that generates maximum interest and exposure.

Timing Is Everything

Though we never suggest trying to time the market when buying or selling a home, it’s essential to understand the current scenario. As we mentioned earlier, you should never enter today’s market with yesterday’s information.

If you had a home evaluation six months ago, your best course of action is to disregard it completely. Conditions change rapidly in the current landscape. A new and updated evaluation taking the most recent updates into account will give you the best foundation to build your strategy upon.

Looking for even more ideas to come out ahead when selling your house? Here is some related reading that can help:

• Selling Your House in Hamilton? Here’s How to Make the Most of It
• 8 Important Things to Remember When Selling Your Home
• Why Home Sellers Need to Think More Like Buyers

What Is a Pre-Home Evaluation?

So far, we’ve talked about home evaluations – not pre-home evaluations. What’s the difference? If you Google “pre-home evaluation”, you won’t find many websites pop up with a clear answer. That’s because it’s a specialized service that Woolcott Real Estate provides to go a step above and beyond for our clients. Here’s the difference.

A home evaluation is a standard service where a real estate agent comes out and assesses your house, taking into account its age, condition, size and location, among other factors. They will also consider recent statistics about how your home compares to others that have recently sold in your neighbourhood. When your plan is solid and imminent, a home evaluation makes perfect sense. However, few life-changing decisions (like selling your house) are set in stone.

If you’re curious about home evaluations and what they mean, check out What’s Your House Really Worth?

Keeping the Long Term in Mind

That’s where our pre-home evaluation service comes in. Market conditions can change as quickly as the weather. A pre-home evaluation provides an assessment of the long-term value of your home independent of minor fluctuations. It’s an ideal step if selling is on your mind but you’re not 100% certain whether you will move at all.

Though the market fluctuates, most attributes of your home will not. You can make improvements over time. However, the square footage, number of bedrooms and bathrooms and location of your house will not change overnight. These long-term factors are what we use during the pre-home evaluation process.

A pre-home evaluation isn’t the only service we provide to our clients. Woolcott Real Estate also offers complimentary staging. Learn more in The Power of Staging When Selling Your Home.

Value Beyond Selling

Many people will opt to get a home evaluation just before they sell to get an idea of what they’d be able to purchase next. However, what they don’t realize is how the information from a pre-home evaluation can help you make sound financial decisions.

Remember that your home is much more than the roof over your head and where you create precious, lifelong memories. It’s a significant financial asset. Even if you don’t plan to sell immediately, you can still consider the value of your home as part of your net worth and purchasing power. Whether you plan to borrow money to remodel your kitchen or take out a home equity loan, the value of your property is a determining factor in your budgeting.

Looking for advice for an exceptionally challenging selling situation? The posts below might cover it:

• Can You Successfully Sell a House With a Stigma?
• How to Sell Your Home After a Divorce
• Can You Sell a House When You Have Tenants?

Your Next Steps

As Drew Woolcott, broker of record, Re/Max Escarpment Woolcott Realty Inc puts it:

“A pre-home evaluation is a service Woolcott Real Estate provides for those that aren’t looking to sell right now, but perhaps down the road. Whether you’re thinking a cottage purchase is on the horizon or simply know that in a few years you’ll want to move somewhere with more space, knowing what your home is worth right now will help you determine how much to save and what’s financially viable.”

The Woolcott Real Estate Team also consults on which improvements or renovations can net more dollars, and can even have their in-house stagers come in for a pre-staging consultation to share ideas on how to get ready when the time comes to actually sell. Whatever the market is doing, we will spare no effort to ensure you earn the maximum return by making your home stand head and shoulders above competing listings.

A pre-home evaluation is a free, no-obligation service that Woolcott Real Estate provides! Reach out to us right here or call 905-332-9223 to learn more.