Real Estate Talk:
Mental preparation to sell

Selling a house is like a marathon: It takes mental and physical preparation

By Joseph Marovitch

Updated April 10, 2024

There is excitement when selling a house. Many people selling a property for the first time have the idea that the sign goes up in the front yard and the house sells the next day. I have news for them, selling a house is like a marathon. It takes mental and physical preparation.

It is true that a good real estate broker will perform most of the work such as listing the property, marketing and showing the property, organizing the open house, performing follow-up calls, preparing offers and counter-offers, facilitation of the notary, mortgage broker and inspector, and more.

However, there is still a component of selling that falls on the seller and this component can be exhausting. The longer it takes to sell the property, the more tiring this issue can be, which is why it is good to price the property well.

The issue is visits and open houses. To sell a property, the seller must be flexible in their schedule. A broker with a client or a client themselves can call to request a visit anytime. To sell a property quickly, it is advisable to allow the visit when the buyer calls because that is when you know the buyer’s interest is high and they have not found another property yet.

The first issue is the house must always be in show condition. For many sellers, this is a tiring proposition, especially if the seller has children. However, the fact is, the better the house appears during a visit, the quicker it will sell and the more money the house will sell for.

To sell a property, the seller must be flexible in their schedule. A broker with client or a client themselves can call to request a visit anytime.

The second issue that may be hard on the seller is an open house. It is always advisable for the seller not to be in the house when the broker is performing the open house. A good broker knows what to say and what not to say when showing during an open house. The broker is not emotionally attached to the house and, therefore, will say what needs to be said, no more and no less.

Many visitors to an open house will offer compliments but many will also insult the house. Owners do not want to hear negative issues about their home. Funny as it may seem, though, the ones that say little, often, are not buying the house. The ones that say everything is wrong with the house, like the house but are attempting to set up a situation where they can purchase the house for as little as possible. This tactic will not work with an experienced broker or seller.

The third issue, which can be energy consuming, is the seller having to find a place to go every Sunday for two hours while the open house takes place. Most sellers do not mind leaving their home on Sunday for the afternoon, however, after a few weeks, not being able to sit on the couch, read a book or watch TV and eat popcorn on a lazy Sunday afternoon can be extremely annoying.

To sell a home, be aware and be prepared to keep the house in show condition, have a flexible schedule so the house can be shown at a moment’s notice and plan a few Sundays with a walk in the park, a matinee movie or drinks at the local pub (beer and nachos!)

‘Price the house for the market and take into consideration the condition of the property… A well-priced house will sell quicker.’

To make the process as painless as possible do the following:

• Get a good broker!
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• Price the house for the market and take into consideration the condition of the property. If the house has issues that can devalue it, either price accordingly or repair the issues. A well-priced property will sell quicker.
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• Plan those Sunday afternoons.

Should you have questions or comments, please refer to the comments section at the bottom of the page. As well, to view past articles, click here.

Have a great week!

Next article: Consider resale purchasing

State Of The Market

Bank of Canada interest rate: 5.25 %
Canadian prime rate: 7.2%
Canada inflation today: 2.86 %

Today, as I am writing this article, the solar eclipse is taking place. For some, the eclipse, which only takes place every few decades, is a beacon of hope. For others, it is not. Millions of people are buying those really stylish glasses and finding a spot to celebrate while others think the end of the world is coming.

‘Everyone has an opinion, but no one really knows. Take life a day at a time and make decisions based on what is fact.’

This is very much like forecasting interest rates. Everyone has an opinion, but no one really knows. Take life a day at a time and make decisions based on what is fact. Will the market be better tomorrow? If we are all still here after the eclipse, then yes, I’ll know more tomorrow. Today I am sitting on my back balcony and staring at the sun with an amazing pair of colorful glasses some kid sold at my door yesterday. I hope these things work. Can everyone read brail?

Have a great week!

LET’S NOT FORGET THAT PEOPLE WITH CANCER ARE VULNERABLE TOO!

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Image: Andrew Burlone

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