The Greater Vancouver real estate market has slowed, and newspapers are writing weekly updates on cancelled or delayed developments. There probably isn’t a water cooler in the city that isn’t surrounded by authorities on real estate who have no hesitation in telling you exactly what they think is going to happen.

Since the world’s leading economists can’t seem to figure out where the financial markets are headed, I highly doubt that anyone in the real estate industry will be able to figure out where our markets are headed either.

So, rather than worry about what you can’t control, concentrate on you can control. For those selling a home, that means doing everything you can to sell it, at the best price. Here are five key ways:
 
Curb appeal. It is almost impossible to spend too much time on the exterior of your home. Try to be as unbiased as possible: Does it need paint? Is the yard landscaped? Are the tools and kids toys all away? Would window trim or other features add accent?

Visit for-sale homes in your area to make sure that your home’s appeal gives you an advantage over your competition. Buyers will do quick drive-bys when the home is first listed and curb appeal will make you or break you. Make your home surpass the Jones’s in every possible way.

Two weeks. Buyers in today’s market can be picky. But good homes are still selling and buyers are still very excited to see new listings. So the first two weeks are more crucial than ever before.

Make sure your Realtor holds an Agent’s Open for both those weeks and make sure other Realtors can bring clients. Two months ago, my wife and I handed out 649 tickets to every Agent who came to our Agent’s Open – one of them sold the house (but didn’t win the 649).

Open Sesame! Make sure you have a public open each day of the first two weekends. It always amazes me how many people don’t insist on having them as much as possible in this market.

We also frequently have private “wine and cheeses” for the neighbours to come by a home. It will amaze you how many of your neighbours will start calling their friends, about a gorgeous (hopefully) home or condo now on the market. Besides, neighbours often come to an open house anyway, so why not make them feel special and have a little “sneak peak” for them? They might just sell your home for you!

First offers. Remember how we sometimes used to hold off on accepting offers until the first Sunday after the initial open houses? Not any more. Nowadays, with a decent offer in hand, it could be unwise to wait for a better offer to come along in a week or two.

In the past, sellers sometimes might hold off on accepting offers because they didn’t think the home was on the market long enough, or thought they could get more if they waited. Now, when your Realtor tells you that the first offer might be not only the best but the only one period, you might want to heed their advice.

Pricing! It’s not location, location, location anymore. It’s price, price, price. Price your property correctly even if it hurts a little (or, sadly, a lot). Is this just because the Realtor wants a quick sale, by having you undersell your home? Well, Realtors don’t mind a quick sale, but they need a fighting chance at selling your home in a challenging market.

Right now, there are plenty of listings on the market that aren’t moving. Why add to that number by pricing incorrectly? Do you want to list your home or do you want to sell it? Your Agent longs for the days when they could tell you to expect two or three or more offers, but, for now, those days are gone. You must price your home correctly.

I truly hope you have success in selling your home.

Tom and Kerrie Everitt run ThinkTom.com Realty in Vancouver. Their internet show appears daily on www.ThinkTom.com

Copyright North Shore Magazine Issue Dec 08 - Jan 09