HOW TO MARKET YOUR HOME

If you are thinking of selling your home, you may think that all that is required is a 'FOR SALE' sign placed strategically on your front lawn - but any real estate professional will tell you there is much more to it than that. While a sign on your lawn is of paramount importance, a well-thought-out marketing plan is also essential.

Your REALTOR and the MLS®
A REALTOR and the Multiple Listing Service® (MLS®) are vital components in the selling process. One of the first things your REALTOR will discuss with you is a marketing strategy designed to give your home maximum exposure. It could be that your REALTOR will already know a number of potential buyers but listing your home on the MLS® will ensure exposure to all other REALTORS in the Victoria area. As most buyers also work with a REALTOR, having your home listed on the MLS® ensures exposure to a broad range of interested people. REALTORS use the MLS® everyday to match sellers with buyers.

In today's market it is essential to price your home realistically. To set the price right, your REALTOR will prepare a Comparative Market Analysis (CMA). Through this thorough, objective evaluation process, he or she will suggest a price range for your home, which will reflect current market conditions.

Be sure to disclose everything you can about your property and the neighbourhood to your REALTOR. This will help your REALTOR find potential buyers whose needs and wants match what your home and neighbourhood have to offer.

Open House and Closing Dates
An open house can be an effective marketing tool. During an open house or pre-arranged showing, it is a good idea to make sure that you and any other members of your family (including pets) are absent so that potential buyers will feel relaxed while viewing your home with your REALTOR. Before any showing or open house, make sure your home is clean and uncluttered, both inside and out

Flexibility on the closing date is another important factor in the successful marketing of a home. Real problems can arise when buyers and sellers cannot agree on a closing date. Again, it is important to work with your REALTOR and listen to suggestions.

Stay Informed
Your REALTOR will keep you regularly informed on how the marketing of your home is progressing. If you have any questions or ideas, do not hesitate to discuss them with your REALTOR.

This information is provided by the Victoria Real Estate Board for the information and benefit of consumers.