February 2024

Here’s an interesting bit of trivia from the world of science. Apparently, it’s impossible for scientists to precisely predict where an atom will be at any particular moment. They call this “the uncertainty principle,” and it’s built into the fabric of the universe.

While some level of uncertainty is inevitable, it can make decision making difficult. That’s particularly true in the real estate market.

The good news is, we can predict with a high degree of certainty, where the real estate market will be next week, next month, and even next season. Of course, no one can be 100% accurate. But, if you have access to the best data and information, and “live” in the market day-to-day (as I do), you can come up with a useful forecast.

Why is that important to you?

When you, a homeowner, can gain a clearer picture of where the real estate market is going in your area and the potential opportunities available, you can make smarter decisions. That’s especially important if you’re considering making a move sometime this year.

So, call me the next time you have questions about the real estate market. I can provide you with the information and insights you need.

How to Make your Home “Picture Perfect” for Viewings

Have you ever had a formal photo shoot? Perhaps you’ve had one for work or arranged one for your family. If so, chances are you dressed up and made yourself look your best.

That’s the right mindset to be in when selling your home too. You want to make every room look as attractive as possible because, these days, many buyers will view pictures of your listing – usually online – before they actually come to see it.

So, how do you make your home look “picture perfect”?

An effective technique is to walk around your home with a camera. You don’t need to take any pictures, at least not yet. Just visit each room and view it through the camera lens. Look at the room from different angles – as though you were a Hollywood director planning a shot! Then, ask yourself the following questions:

Will the room look cluttered in a picture?

Does the room appear to be spacious and comfortable?

Is there anything in the shot that stands out as distracting or negative?

Will removing, adding or re-arranging furniture and other items make the room look better in a photo?

Does the room look better at certain times of the day?

Are there any other changes you can make to the room to make it look better in a photo?
After you’ve gone through this exercise, you’ll have a clear idea of what changes you need to make to ensure your listing looks its best in photos and video.

Pricing Psychology and Selling your Home

Have you ever seen a product at a store and thought, “Whoa. That price is outrageously high. It’s just not worth it!” Conversely, you might have also reacted to another product with, “That’s awfully cheap. The quality must not be good.”

Welcome to the psychology of pricing!

According to research, people tend to draw conclusions about a product based on its price. If it doesn’t reflect the perceived value of the item, people become hesitant to buy. This occurs whether the item is priced too high or too low.

What does this have to do with selling your property?

When you set the list price, you want it to help attract the right type of buyers... buyers who are looking for your kind of property, in your neighbourhood, and within that price range.

If you set your price too high, you risk having buyers see your listing as too expensive relative to comparable properties.

If you set the price too low, you might attract more buyers. In fact, in some circumstances, that can be a strategy for generating quick interest in your listing. But, you might also cut out otherwise qualified buyers who are searching within a higher price range.

So, when selling your home, consider the importance of pricing psychology.

When You Can Only See a Property Once

If you’re searching for a new home within a tight time frame or searching for an out-of-town property, you may not have time to make multiple visits. In fact, you might only get a chance to view a property once before deciding whether or not to make an offer. In that case, you’ll need to be sure to get all the information you need from that one viewing. The trick is to be prepared.

Before viewing a property, make a list of all the things you want to know about the home. If it’s an older home for example, you may want to know about possible maintenance issues. So, you’ll have questions about when you should expect that the roof, furnace or air conditioner will need to be replaced. If you’re concerned about bedroom space, you’ll want to bring a measuring tape and confirm the dimensions of those rooms.

Then, when you schedule the viewing, make it clear to the seller that you may need more time than the average buyer. Depending on the property, you may need an extra 30 minutes to an hour.

During the viewing, spend time exploring each of the rooms, especially those that are most important to you. Bring a notebook or use your smartphone to make notes. And, don’t forget to ask all of your questions.