The most important decision you will make with your REALTOR® is determining the right asking price for your property in the current market conditions.  

A member of the Comox Valley Homes Team will meet with you to analyze the unique selling points of your home and produce a Custom Market Analysis (CMA) to establish the optimal selling price. Various factors, including recent comparable sales and current market trends, will be considered in determining the recommended selling price.

The Benefits of Pricing Right 

1. Your property sells faster, because it is exposed to more qualified buyers. 

2. Your home doesn’t lose its “marketability”. 

3. The closer to market value, the higher the potential volume of offers received and a well-priced property can generate competing offers. 

4. The real estate community will be enthusiastic about presenting your property to buyers. 

The Result of Overpricing 

Many sellers believe that if they price their home high initially, they can lower it later. Often, when a home is priced too high, it experiences little activity. Gradually, the price will come down to market value, but by that time it’s been for sale too long and some buyers will be wary and reject the property. You may think that interested buyers “can always make an offer”, but if the home is over-priced, potential buyers looking in a lower price range will never see it.

Consider calling us to come in for a walk-through before making any major property renovations in preparation for selling your home. We have seen many clients invest in costly renovations, such as installing a swimming pool or building a large deck, that may not provide a positive return on investment. In some cases, such renovations may not be reflected in the appraised value of the home. Thus, we advise against making costly upgrades that might not increase your home's value in the eyes of potential buyers. Call us to come over and do a walk through prior to renovations you might be thinking of.

 According to the Appraisal Institute of Canada, the top renovations that yield the highest return on investment in order are the kitchen, bathroom, and interior/exterior painting. Other profitable projects include improving storage space as well as updating lighting, countertops, curtains, cabinet hardware, and flooring.

To help your property sell faster, there are several cost-effective things you can do. Begin by installing warm glow lightbulbs and removing clutter and family photos or fabrics from end tables. Additionally, be sure to eliminate any pet odors (we have a remedy for that one), and keep garbage and refuse off the exterior of your home. Old curtains and broken blinds should be replaced, and you should limit the number of items on your kitchen counters. For photos, avoid having towels in your bathrooms, which are usually crooked and have tags. Opt for a fresh, neutral palette and less clutter. Focus on creating a welcoming entryway and avoid shoe racks by the door. Remember, clutter is not your friend, so box it up and create a clean, inviting space that appeals to potential buyers.

The Importance of Early Activity 

As soon as a home comes on the market, there is a flurry of activity surrounding it. This is the crucial time to capture the attention of potential buyers. If the home is overpriced, it doesn’t take long for interested parties to move on. By the time the price drops, the majority of buyers are lost. 

Define Your Marketing Plan 

At Comox Valley Homes Team, we understand for most people, their home is their largest asset. A house is very complex to market and the process needs to be well organized. That's why we prepare a comprehensive plan outlining all the necessary steps to effectively market your property. Our plan is customized to meet your specific needs and includes listing your property on MLS®, creating effective marketing materials, implementing traditional and online advertising, and networking with other real estate professionals. As part of the large Royal LePage network, we work together to attract potential buyers and bring them through your door.

As part of our marketing plan, we also include professional photos and floorplans to showcase your property in the best possible light. We also provide staging advice to help potential buyers envision themselves in your home.