Do You Want To Get More $ For Your Property?
Every property seller wants to get the most dollar value for their property. But before we get to the details of how, lets define and differentiate Market Value, Assessed Value and Appraised Value.
Assessed Value of the property is the annual tax appraisal from the local municipal. This assessment is not definitive toward how much a property worth as it is not as detailed appraisal of what the house has to offer. The assessed tax value is usually based on the market growth, municipal property value index, local school and public tax, the last purchase amount and many other factors that are not directly related to what the property offers. Therefore, Home sellers should never price their home based on this value.
Appraised Value is a financial institution value set of the property based on the surrounding home sold within the same market. There is no detailed inspection of the property and the sole purpose is to estimate the financing target.
Market Value is a value where the sellers need to target their home pricing. In Victoria, as a Realtor, we take extra measure to price the properties correctly in many different ways. Other than looking to Comparable sold with the same market and interest rate, we also evaluate the property in detail in many other ways. Just a couple of short examples are below but are not limited to:
A) HPI This a great tool provided by the Canadian Real Estate Association, for all home index pricing that tells us from when the sellers purchased to the current time, how many points the property has changed and ultimately it can be calculated to percentage where we get the estimated current value.
B) In addition to HPI we also estimate all the home improvement done that increases the value of the property. Extensive renovation and remodeling can extensively increase the property value.
Now that we know the price which will determine what buyers pay for, let’s go back to our original question:
How do you get more $ for your property?
The value to determined is in the dollar per square footage. The key is to show the flow of the existing square footage by clearing clutters. Clutters include furniture and decoration. A clean and organize home makes the buyer realize its true potential.
- Expose the property
Be available. This is important to make the home easy to show. Open Houses are a great example for this. As a Seller, take pride in showing your house and make it easily available.
This stage is quite important. Let the buyers see themselves and their family in every corner of the property. Remove any personalized items. Family pictures, travel collections, personalized décor are amongst these categories. For that period a potential buyer views your house, let them feel it is their home for that moment.
- Small repairs
As a Realtor active in Victoria, I always advise my clients to prepare their property prior to list it. One of the most highlighted items in the list is repair and maintenance. It is crucial to remedy all the obvious and eye sores. Fresh paint, fixing holes, landscape, oiling door hinges are simple fixes that goes a long way. The rest of repairs can be obtained through a pre-inspection.
Many Sellers are surprised when we point this item on the list. Although it is the buyer’s responsibility to investigate anything about the property, as a Seller, there shouldn’t be any surprises. When Sellers do inspection, they know what’s on their list of repairs and this will
A) Price the home accordingly if no budget to fix
B) Confidence in Negotiation
C) Confidence in buyers to present stronger offer with less conditions
What we do?
With Engel & Völkers, I as your Realtor will expose your property locally, and globally. I have a vast networking system that will notify every potential buyer. Other than traditional open houses, we also network with credible brokerages to bring us their clients.
- Market well
Marketing a property is our top list of priority. Other than a traditional off line marketing which places the property in magazines and newspaper, I also focus online. Social Media, News and Search Engines are the best method to make buyers aware of the listed property. I also use an extraordinary technic by increasing the amount of online attention since I am a Computer Science graduate.
- Bring you global attraction
As a global Realtor with Engel & Völkers, I expose the listed property amongst our international connection literally. The listing can be displayed in our European and North American Shop’s windows and website.
- Pictures that talk
Our policy is the highest quality pictures. Regardless of the price of the property I spent the highest amount on the picture quality. Since we work globally, I have to represent how beautiful the listed property truly is. I never go for cheap photos.
- Videos that shows off
Other than commercial videos for some properties, I always do a personalized YouTube video and scatter it online. In this videos, I walk the potential buyers and bring their attention to the property’s highlights.
- Floor Planning
I always provide floor plan for my listings. They come in all shape and sizes, but it is important to have the proper measurement of the property. This will help the potential property buyers in Victoria with their anticipated furniture size and comfortability.
- Telling story
Every property has a story. As a Victoria BC Realtor, I always tell the story of the property in my write ups in MLS listing. A buyer wants to feel themselves and their family in the property they search and connect to it. If they want to know the square footage and number of bedrooms, they can just look at the side page. In the property highlights, story of the property and how it is shaped to be, can make a big difference.
Proud to be a top negotiator Realtor in Victoria BC, I always protect my client’s interest and strive to consistently provide value. Regardless if it is a multiple offer case or a one on one negotiation, my clients know they are in the best hand possible.
- Provide a home staging consultation
To place my clients at ease, I always do a walkthrough and provide a list of to do (which I help them hands on) in addition, I work alongside of a professional home stager. This is a great value as most of the time, it can work with their own furniture and re-decorating it results in amazing value.
- After sale service
When the sale is done, I always standby my clients. To me is a relationship and they became part of my business family. I describe it as business family as my business is my personal life in contrary to any other business. I love what I do and proud to be a productive realtor in Victoria BC.
The above, is a short list of services that can add additional value to the Sellers property to get higher dollar. I always work with a team of professionals in my field. Ready to know the value of your property in this market? Call me today and let’s discover the top value your property offers to the vast pool of buyers.
Axel Ziba PREC