What it Takes to Sell a PEI Home
That is not to say that the sign in of it self has no value, but rather that it is not enough to guarantee a sale. Unlike bigger markets such as Alberta, Toronto or Vancouver, your PEI realtor must spend a lot of energy, thought and more importantly resources advertising your listing if you hope to sell. The average length of time it takes to sell PEI real estate is 3 months in the city and 6 months if the residence is located out of town. This is based on a generalization from MLS statistics. There are many factors that affect a homes ability to sell quickly in our market but a few of these are absolutely fundamental to success.
I usually use an absurd example here to get my point across. If you list your house for $1, it will sell within 24 hours. However if your home is worth $150, 000 and you want a cool $1, 000, 000, then don't pack up the kids just yet. The point is simple, you have to be priced according to the market. A CMA, comparitive price analysis, will show you what is on the market in your area and price range, what has sold recently, and the sale price. The hardest part for the homeowner is to settle on an asking price. Your agent is objective and can guide you. Most agents will give you a range, the lower end will sell faster, the upper end will take a little more time and effort. Some agents will walk away from a house priced too high and recommend someone else to take your listing. Why? Your agent is self employed. Their paycheck will come from selling your home and until then they will incur all advertising costs, and they mount quickly. If there is no hope of selling, then all they would be doing is throwing money out the door.
Ok, so you've finally come to terms on price, now your agent begins work on your behalf. The paper work gets submitted, the property gets listed on MLS and a sign goes up. Wonderful! Now all we have to do is sit around and wait for the offers to come in ...WRONG! There are many things a knowledgeable agent will do for you at this time. These steps vary from agent to agent and in the order different agents might execute them, but this is all behind the scene stuff that makes the offer become a reality. This includes inviting the otehr agents from their office to view your home during their weekly meeting. Having other agents familiar with your property will help sell it. How? Because when their buyers give them a list of what they want and your house matches most of those criteria, they will not hesitate to show it so they can achieve the sale part of the deal. Agents will hold open houses 'for agents only' from all companies. Now every agent on the Island knows your house is for sale - great it is bound to sell now. Well maybe. It does not hurt to notify the general public that it is for sale. After all it will be someone from the public that will eventually make the offer. How is that accomplished? Depends on the agent and the office.
Here on PEI real estate is advertised on Cable TV Channel 9 as well as a plethora of websites, including the MLS site realtor.ca, corporate sites such as century21.ca and various real estate "networks" such as Point to Point. In addition there is the Home Show held in the spring here in Summerside at which realtors make contact with potential home buyers as well as the Real Estate Book, a full-colour real estate magazine, showing featured PEI real estate listings
Well experienced realtors will also use email marketing, direct marketing, agent handshaking, and some companies have even even sent agents out to Alberta, Toronto, Las Vegas and China to help establish relationships with potential buyers. These are the ways that a realtor will use to get your home from sign up to sale.
R. Parker works with local PEI real estate agents to promote the island to the world. With his associates he can help you enter the PEI real estate market.
Article Source: ArticlesBase.com
