The Seller Wants More Than The Property Is Worth
The most effective strategy for negotiating with a seller who wants more than market value in my experience is informing the seller so they can make an educated decision and the time and circumstances of the seller. In this case, and depending on the market situation, when the seller's price is higher than recent comparable properties in the same area. Here are the main things for the seller to consider. 1) The Seller with a higher-priced property will receive fewer viewings. In most cases, a property on the market over 90 days is overpriced and may not even get any showings at all. 2) Less, or perhaps no offers at all on their property. 3) Sellers who price their properties slightly below or in line with recent properties sold will sell faster. 4) The property may sit on the market longer than necessary. 5) By waiting to sell for a higher price, interest rates may increase and affect the affordability that buyers can purchase in a particular price range. It is important as a seller to have your real estate agent do a comparable market analysis on your property to help the buyer set the list price for their property. Ultimately, the choice is up to the seller. Perhaps the real estate agent sharing the recent comparables may help convince the seller that their price thinking is too high. Disclaimer: The information provided in this blog post is for informational purposes only and should not be considered financial or investment advice. For questions about real estate, contact Ed Black today at (403) 830-8510. Ed BlackREALTOR® Copyright © 2023-2024 All Rights Reserved. This is not intended to solicit buyers or sellers currently under contract with another brokerage.
Options for Senior Home Owners Selling in the Current Market
As an empty nester or someone nearing retirement, you might be considering downsizing your home. With house prices at an all-time high, selling your home can provide you with a significant amount of additional income to support your retirement. However, with high interest rates and home prices and fewer options available on the market, selling your home may also be quite daunting. Your unique circumstances and financial goals will play a significant role in determining the best course of action for you. It's important to identify what your needs are and find the best options to suit your unique situation. Downsizing could provide you with a more affordable living space while also providing additional funds and flexibility to enjoy your retirement and explore the world. Another benefit of a smaller home is that it generally requires less maintenance and upkeep. This option may be most attractive to those who have paid off—or nearly paid off—their home, freeing up some of the equity it has generated to support their goals. Great options for downsizing in Calgary would be the Beltline area, which offers a mix of condos, apartments, and townhomes, as well as a range of amenities such as restaurants, shops, and parks. You may also consider moving to a different area. Strathmore, Airdrie, Cochrane, Okotoks and High River are all areas near Calgary with a lower cost of living. These areas offer a more relaxed pace of life while still being within a reasonable distance of Calgary's amenities and services. Another option is renting. This option may initially seem less attractive but could provide several benefits you may not have considered. One of the biggest benefits of renting is the lack of hands-on maintenance. As a renter, you're not responsible for repairs or maintenance; avoiding the time, energy, and hassle of making those yourself or finding someone else to fix it. Renting also provides more flexibility. If you need to move for any reason, you can simply wait until the end of your lease and move to a new location without worrying about selling a property. Additionally, you may have more locations to choose from, making it easier to grab a spot close to family, friends, transit, schools, a grocery store, or your favorite activities. Overall, renting can be an excellent option for older couples who are looking for convenience and flexibility. Retirement communities are another option to consider. These communities offer a range of amenities, including housekeeping, transportation and meals, while also providing a sense of community and socialization. Some popular retirement communities in Calgary include the Sienna Living Group, the Trinity Hills Retirement Community, and The Manor Village. If you're looking to move outside of Calgary, there are many great retirement communities in the surrounding areas. For example, Strathmore, Airdrie, Cochrane, Okotoks and High River are all popular choices for retirees who want to enjoy a slower pace of life while still having access to all the amenities and services of the city. For those who want to maintain a sense of independence but need a little extra help, assisted living facilities might be a good option. These facilities provide assistance with daily tasks, such as cooking and cleaning, while also offering healthcare services. Some great assisted living facilities in Calgary include the Verve Senior Living communities and the Amica Mature Lifestyles group. If you're thinking of downsizing, selling your home can be a great option to provide additional income for your retirement. With a range of attractive and feasible options available in Calgary and the surrounding areas, you're sure to find the perfect home for your retirement years. That being said, the decision to sell your home will depend on your circumstances and priorities. As a real estate professional, I understand that this can be a difficult decision to make. My goal is to help guide you through the process and provide you with all the information you need to make a confident and informed decision. For questions about real estate, contact Ed Black today at (403) 830-8510 Copyright © 2023-2024 All Rights Reserved. This is not intended to solicit buyers or sellers currently under contract with a broker.
Working with a Real Estate Agent
Should I use a real estate agent to help me with the sale of my home? Why should I use a real estate agent to help find a home? What homes should I look at? There are so many in different areas and price ranges. These are good questions. When it comes down to buying or selling, everyone may need some help, from first-time buyers or even experienced investors. Let's discuss these questions. If you are interested in selling your home, by listing it with a real estate agent you will benefit from the many marketing services they provide. The Multiple Listing Service is the best exposure for your property. As well as this tool you have a REALTOR® working on your listing 24 hours a day. Your real estate agent is not only trying to sell your property but is also pre-screening potential buyers to save you time and hassle. A REALTOR® is trained in this field and is always upgrading their education. They are licensed professionals. You may want to interview a few real estate agents to see which one you feel comfortable working with. Other marketing tools are real estate tours, local advertising, networking with other real estate agents, and the local real estate newspaper which is the most sought-after single source for resale real estate. Also, a real estate agent can help you prepare your home with some valuable tips that you may overlook. When looking for a home, a real estate agent can help you. They have at their fingertips a huge database of listings. A good real estate agent should be knowledgeable about the city or rural areas and be able to help you find ones within your price range. Some agents specialize in certain types of properties and areas. By entering your search criteria into a computer, a real estate agent can narrow down a short list of potential properties for your viewing. This can save a lot of time, energy and money. They set up the appointments and handle the negotiation process for you. You decide what price you offer. There are so many real estate agents. How do you find the right one for you? I remember before I became a real estate professional, I called a lot of these agents. You see the more agents that I called; I figured I would get more results. I thought that if I had more agents looking for me I would have better chances of finding a home. Well, out of using all those agents I found out that I only needed one. You only need one agent to write an offer and they all have the same access to the local real estate database. What it comes down to is personal service. A good real estate agent will get back to you right away and answer your questions. With all the technology today, real estate agents not only have pagers, but cell phones, text messaging, assistants, and voice mail... There are so many ways to get a hold of them. In an active market if your agent is on the ball they will get you into a property ASAP. Tomorrow may be too late. When you meet your agent, do they take time to listen to your wants and needs? Are they genuinely interested in helping you? Do they have the time for you? It's nice when you get a call or email from your agent letting you know they are still working for you. Make sure they stay in touch. Ask yourself, "What do you want in a real estate agent?" Service? Communication? Negotiation? Privacy? Honesty? Peace of Mind? Results? As licensed professionals, real estate agents have strict codes of ethics. Agents are obligated to protect and promote the interests of their clients as they would their own. Their duties include loyalty, obedience, confidentiality, reasonable care and skill, full disclosure and full accounting. An agent should sit down and explain the agency relationship before going to work for you. When you find a house that is listed or for sale by the owner, pass the information on to the agent you have chosen. They will be able to check out the property for you. If an agent shows you a property, that agent is entitled to a commission, regardless of whether you want to use them or not. This can cause frustration with your chosen agent and often leaves them out of the picture. Choose your real estate agent and stick with them. If you are not getting the results you want, let them know. It pays to do your homework upfront and be completely honest with your real estate agent. For questions about real estate, contact Ed Black today at (403) 830-8510. Ed BlackREALTOR® Copyright © 2023-2024 All Rights Reserved. This is not intended to solicit buyers or sellers currently under contract with a broker.
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