Home selling tips. Two unconventional tips that you probably haven't heard before, and I'm not talking about things like stage your home, make sure it has a good curb appeal, depersonalize and
declutter. Well, that's kind of like saying before you
go on a date, make sure you shave, perhaps take a shower. To me those aren't tips. It's really common knowledge. Today, I'm going to share my two biggest things that all sellers need to know when putting their home up for sale.
And to be honest, I think that this should
be common advice that realtors provide. But I'm not really sure if that's the
case. So this is a conversation that I have with
all my sellers. And I'm going to share that with you today. The two things all sellers need to know is: Number
one, where the market is, and number two, where the market is going.
Understanding these
key elements will be able to help you understand where the market is and determine what market
you're in, as well as implement the correct pricing strategy. So as a seller, you need to know What kind of market you're in, but how do you determine that? What metrics do you use in order to pinpoint
the buyers and sellers for a balanced market? There's a lot of different factors in determining
what kind of market you're in. But the biggest thing that you should know
about is what's called a month of supply or months of inventory. Now this means that based on last month's
sales, how many more months would it take for the market to absorb all of the existing
inventory? Now in Calgary, if you have 2.5 to four months
of inventory, it means that you're in a balanced market, anything less than two and a half
months of inventory, it means that it's a sellers market because the properties are
selling quicker and anything over four months of inventory means that it's a buyers market.
Now I will say it doesn't matter what the overall city's market is in. There's always going to be different pockets
of a community, maybe at different streets of the same community that will always either
outperform or underperform. So this gives you a general idea of what your
city is doing, what your community is doing, and perhaps even what the local street within
that community is doing as well, where you can find this information is your local real
estate board. So for example, I'm with CREB – Calgary real
estate board, and this is information that I can pull and narrow it down right to the
community. This is super important information for you
to know, because if the market going down, then you can't employ the same pricing strategy
as if the market was going up. In fact, it's obviously the opposite. In future videos, I'll be coming out and sharing my pricing strategy.
So if you don't want to miss that subscribe, and if you happen to be here in Calgary, Alberta,
and you want to know what the current months of supply is for either the city or for your
specific community, feel free to reach out to me. And I'd be happy to have that conversation
with you. Now, there might be other things that you're
considering as well. If you're a seller if you should sell now
or sell later, if that is one of the things that you're thinking about, make sure you
check out my other video here or down in the description below.
And if you have an existing property, but
you're not sure if you want to keep it as an income property and move up or you just
want to sell it, then make sure you stay tuned because I will be coming up with some good
advice on what you should do, the factors you should consider and what is the best for
your situation. My name is Felix Chan with the LiveInnerCity
real estate team, helping you keep real estate simple. And we'll see you in our next video..
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