Friday, April 27, 2012

It's Not Location, Location, Location but Price, Price, Price That Sells Your Home

  When it comes to selling your home, there is one thing and one thing only that matters….price!  That may seem on the surface to be a bold statement but it's true and here's why.

  As of this posting, there are 1,101 single family homes listed for sale on the MLS® system of the Georgian Triangle Association of REALTORS® (GTAR). Single family home sales for the 1st quarter total 287 individual properties which means that with over 1,100 homes currently on the market, we have over 11 and a half months of inventory available for sale. Essential 1 out of every 4 homes listed for sale sells. Not very good odds when you think about it. Without the proper asking price, your home may end up falling into the “expired listing” category of which there were over 3,200 such properties in our market during 2011.

 Sure, you can argue that location, size, condition, your landscaping, recent improvements you’ve made and a host of other factors make your home better or worse that others on the market but at the end of the day, all those factors boil down to being a factor of price.
 
One of the most important tools in helping both REALTORS® and homeowners arrive at a suitable “market” price for their property is a thoroughly prepared Comparable Market Analysis or “CMA” yet I find it’s something that is often missing. Too often Seller’s focus on asking questions about the rate of commission, the method of advertising the REALTOR® is going to use, will they do a “virtual tour” etc. While all of these add-on initiatives are important, they will not contribute to selling a property that is over-priced.
 
For those that may be uncertain as to what a Comparable Market Analysis (CMA) should include, I have a hand-out (pictured herein) that covers what you should look for in a CMA. Not only will this assist you in understanding what you should look for when determining the pricing of your home, knowing what a thorough CMA consists of will assist you in knowing what to look for when selecting a REALTOR® as well. Contact me for your complimentary copy of “What To Look For in a CMA” and follow my blog for further tips on selling your home.

No comments:

Contact Me

Royal LePAGE Locations North (Brokerage)

330 First Street, Collingwood, ON L9Y 1B4



Email:
rickcrouch@propertycollingwood.com



Direct: 705-443-1037



Office: 705-445-5520 ext 230




Website:
www.rickcrouch.realtor















My Profile

Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario. In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.