20 Oct Sell Your House in Victoria Fast – A Complete Guide
How to Sell Your House in Victoria BC, Fast.
This post is intended to help sell your house in Victoria BC, fast. Understand how to sell your home in Victoria using a Real Estate Agent, and understand how to find a Top Realtor in Victoria.
In 2017 Victoria was ranked as the 2nd best small city to live outside of the USA. The real estate market in Victoria has remained stable over the past 5 decades, even throughout the market crisis in 2001 and 2008. This is because Victoria has a great quality of life, vibrant outdoor lifestyle, and is also home to the warmest place in Canada. When you combine all of these facts about Victoria, you are left with a real estate market that is in high demand, and fast selling real estate.
You have to take a few things into account before listing your house for sale in Victoria BC. How do you find a good in Victoria? How much will your house in Victoria sell for? Will COVID19 effect the sale of your home in Victoria? How do you prepare your home for sale? How do you place your home listing in the MLS Victoria, and get it seen? How does the negotiation process for selling a home work? What happens after your home has been sold?
Find a Great Realtor in Victoria
If you are looking to list your property for sale in Victoria, finding a great realtor with an outstanding performance history will help your home sell faster while maximizing the sale price. When looking for a realtor in Victoria, many real estate agents in Victoria will discuss the volume of properties they have sold and currently have listed for sale. While how many properties a realtor has sold is an impressive statistic that can easily “wow” you, you are looking for quality over quantity. So what are some things to look for when looking for a top performing realtor in Victoria?
- Pick a Real Estate agent because you like them and trust them.
- Real estate listings that sell fast after they have been listed on the Victoria MLS.
- Great quality photos in the previous listings.
- Virtual 3D tours available for their real estate listings.
- A realtor that has time to dedicate to selling your home.
Get your property value assessed.
How much will your house sell for in Victoria? What is your home valued at in the Victoria real estate market? The process of assessing the value of your property involves understanding both the market value of your home and the assessed value of your home.
The market value of your home in Victoria is determined by your real estate agent. Your realtor will take into account how much similar properties in your area have sold for in the past, and also how much currently listed and similar homes are listed for. This value is often times higher than the appraised value.
The assessment value of your home is an independent property appraisal performed by BC Assessment. This property appraisal takes into account many factors including the original sale price of the home, the property type and the land improvements made. The property appraisal value of your home is often lower than the market value of your home in Victoria. Not to worry, the majority of homes sell for above their market value in Victoria.
Understand how COVID Effects The Sell Price of Your House in Victoria.
We are in the middle of a global crisis (COVID19), and as to be expected from any crisis, it does effect the sale of your home in Victoria BC. So how does COVID 19 effect the sale of your property? We will touch on a few of the most important effects:
- Viewing homes for sale in-person has taken a steep decline. People are still viewing homes, but most home buyers are viewing real estate listings in Victoria using 3D virtual tours before scheduling a time to view the house in-person.
- The property market in Vancouver is expected to decline by up to 7% in 2020. We do not expect to see such drastic decreases in Victoria. In fact, according to VREB, the value of property in Victoria in September 2020 has increased by 3.5% as compared to September 2019. The benchmark value of condos in September 2020 has decreased by 0.4% as compared to the value in September 2019
Since the prediction is for property value to decrease over the next 1-2 years, it may be time to list your property with a realtor sooner rather than later if you are looking to sell your home. This is because the market will take longer to recover than it does to dip in value.
Prepare Your House to Sell in Victoria
Preparing your home for sale in Victoria can seem like a daunting task. Some of the main things to consider when looking to prepare your property for sale includes; changing your paint colour to match modern trends, completing quick fixes to cosmetic issues, understanding if there are structural damage or any other significant damage, and lastly staging your home. All of these items help make your home move in ready for a buyer. This can go a long way to speeding up the sale of your property. Want to hear about some more home seller preparation tips?
Your Real Estate Agent will market your real estate listing.
Since the Victoria BC market is such a hot one at the moment, getting your real estate listing noticed online can be tough. Lucky for you, real estate marketing has come a very long way in the 21st century, if you work with the right partners. A great real estate agent in Victoria will understand the Victoria market, what drives the market to make a purchase, and where the market goes to find their homes before buying them. A great real estate marketing strategy will take into account COVID, as well as modern media, and in-person marketing methods. Your listing should absolutely include a 3D virtual tour above all else. This can be done with modern Victoria real estate marketing companies like Proper Measure Victoria.
Negotiate the sale of your house.
Many realtors believe that the goal of placing your home on the market is to sell your home for the highest possible price. This is not the only factor driving you to sell your home, and we both know that. You may want to sell your home quickly, and have less of a drive to get a little bit more than the listing price. You may be looking to sell the home to someone whom you like and believe will get along with your neighbors, or perhaps your neighbors were a bit of a pain, so you don’t care about that too much. Whatever the goal for selling your home, a great realtor will start by understanding why you want to sell your home, and will develop a negotiation strategy based on that. From there, your realtor should have a long history of negotiation skills. Ask your real estate agent about their negotiating experience, as this is what makes a breaks almost every deal!
Prepare for what happens after your house has been sold.
Woohoo, your home has been sold, what now? Not so fast, your home may have been sold with some conditions. Before you get paid, the conditions of the sale of the home need to be met first. Some of these conditions may include a structural assessment or general home inspection. This is why it is important to have your home inspected before listing it on the Victoria MLS. If all is good with the inspection, the buyer may have some other conditions in place. These could include the buying of a home for them to move into, or being able to sell their home first. Want to chat to a realtor? Schedule a Call with Brian Laing here.