09 Sep Key to Success in a Challenging Market – Marketing
Key to Success in a Challenging Market – Marketing!
Selling a house in today’s real estate market is not an easy task. Understanding market dynamics & value, uncovering buyer motivations, knowing how to execute a successful marketing plan and more! Marketing is the key to success in a challenging market.
Selection of Your Salesperson is Vital
Your realtor® must know the neighborhood and surrounding area that your property is located in. They must be capable of earning credibility with potential buyers by providing very knowledgeable service and having a record that demonstrates the ability to deliver desired results despite difficult marketing conditions.
Your salesperson must be capable of positioning the home and neighborhood advantageously, and be prepared to invest in presenting the property to the greatest number of potential purchasers through a network of personal contacts, advertising, social media, the web and open houses.
Each house is individual! Having its own location, orientation to the sun, design, layout, décor, function and upgrades. Despite changing market conditions, to achieve desired results we market individual houses to the needs and desires of different types of buyers searching for their special home.
Knowing the difference between Appraised Value and Market Value is important to understand. A licensed appraiser will compare your home to others and put a value on the differences. Market value is what someone will pay you for it on the open market in a written offer, which can be different than appraised value.
These values are usually close but depending on the type of market you’re selling in, they can be different. For example if the supply is low or if it is closer to a balanced market, which is generally about 4 months of supply.
People are always moving for different reasons, i.e. jobs, be closer to family, change in family, change in finances. One of the biggest reasons is immigration. Statistics Canada’s reports of the number of new permanent residences that Canada aims to welcome, the push for the start of building more housing is here. “New projections released by Statistics Canada this week suggest that Ontario’s population will grow from 14.8 million to approximately 19 million by 2043 in a medium growth scenario and could even surpass 21 million in a higher growth scenario.”(Source: “Ontario’s population could grow by more than six million over the next two decade“, CTV news, August 28, 2022). Understanding potential purchasers’ motivations for making a move and purchase is fundamental to achieving results.
We are long-time residents of Ottawa with a continued national standing. Our priority is to satisfy your real estate objectives, our goal is results.
Call us to guide you through the selling and purchasing process. To find out more about our team and the selling and buying a home click here. We would be pleased to help you, a family member or friend.