Private sale is the new concept when it comes to the real estate market, according to new research commissioned by Kijiji Canada. The study revealed that 61 per cent of Canadians would consider selling their home on their own if it was easy and more affordable than using a Realtor. 22 % Canadians who have sold a home in the past have sold a home on their own at least once.
“This research corresponds with what we’re seeing on social media sites when it comes to the for private sale of the properties in Canada,“ says Navtaj Chandhoke, founder of World Wealth Builders, a Canadian Real Estate Investors Training company.” This is getting very common among Canadian Savvy Real Estate investors too”.
Canadians sell home
According to the new research:
- Nearly three-quarters (72 per cent) of those who believe decluttering is important didn’t actually purge their home of many items before selling.
- A large majority (86 per cent) of those who believe conducting renovations is important before selling a home didn’t do any when selling their home.
- A large majority (86 per cent) believe staging is important, but 61% of those who think it’s important didn’t do it.
Top tips to beautify your digs
The survey also found that the majority (62 per cent) of Canadians are doing minimal maintenance to prepare their home. But when it comes to the sale itself, not everyone feels they are getting a fair price (21 per cent), often because they didn’t take the time.
Following some simple tips to get more:
- De-clutter your domicile: De-personalize your home before showing it, and the first step in this process is to de-clutter. Moving is an excellent time to do this anyway, as you really don’t want to be stuck transporting more than you have to. Stop, take stock of what you really use, and get rid of what you don’t need.
- First off, fix it: When a potential buyer notices that broken drawer or leaky faucet, you can lose the sale. Correcting minor problems are worth the small investment to help seal the huge deal. The impression of a house in disrepair can jeopardize a sale.
- Stand out with staging: The research shows that many Canadians are already savvy stagers, with 33 per cent taking steps to properly prep their property. A few small steps can make all the difference:
- De-personalize: remove items such as trophies, children’s artwork, and family pictures.
- Neutralize: What may be appealing to you may not be so appealing to someone else. Allow prospective buyers to envision your home with their preferred colours, artwork, and furniture by keeping things as neutral as possible.
- Sweat the details: For open houses, it’s important to add a little extra something with things like scented candles, a bowl of fruit, and accent pillows.
- Curb appeal It’s really just common sense. This is where you make your first impression. Think of it like a job interview. Closely consider your home’s exterior and make sure bushes are pruned, grass is trimmed, and paint isn’t peeling. You want your home to look cared for and inviting.
- Professional inspection: Instead of waiting for a potential buyer to find something wrong, invest in a professional inspection. It’s your best way of finding and fixing deficiencies before a potential buyer discovers them and walks away forever.
Real estate by the numbers
Who’s the savviest at selling their own home? What community has bought and sold the most homes? When it comes to real estate know-how, the survey also reveals interesting differences from coast-to-coast:
- British Columbians are savvy salespeople. Sellers in BC have sold the most homes on their own than any other province, at 31 per cent. The province also has the highest percentage reporting that they plan to sell within the next year, at 17 per cent.
- Staging separation. When it comes to self-staging, sellers in Alberta have done in the most at 39 per cent, versus their Saskatchewan neighbors, who self-stage the least at 14 per cent.
- People who purge. Sellers in Ontario seem to have the least trouble getting rid of items before selling their homes, at 37 per cent, while Quebeckers have the hardest time, at 19 per cent.
- Who renovates the most in preparation for sale? Sellers in Atlantic Canada appear to be the most adept at 20 per cent.
- Fair market value for whom? Atlantic Canadians are least happy with what their homes sold for, with 27 per cent of sellers reporting that their home sold for less than market value.
But while the Private sale trend may be trending up, many homeowners may not be prepared to do what it takes to get the best price when going it alone in the real estate market. Important pre-sale steps to take include de-cluttering, renovating, and investing in curb appeal.
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