Selling Your Home During a Pandemic
Timing is everything, or so they say.
Timing right now in the Calgary Real Estate Market is everything, the next best thing to having a crystal ball is knowing how to read the trendlines and to have a solid understanding of each market that you are selling in.
When you have a plan and follow it to the letter, your chances of success increase 10 fold.
That's what Tom and Sue* did and they found the success they were hoping for.
What Was the Plan of Attack?
I began the conversation with Tom and Sue back in 2018 whent they were referred to me by a Realtor® in Ontario. At the time they were considering a move to Vancouver Island but weren't sure on logistics, the market, whether this was the right move for them.
Over time we had multiple conversations via phone, text and email, they had a lot of questions and I was of course happy to help and to answer.
Tom and Sue got to a point towards the end of last year where they had made up their minds but had some work to do on their home prior to listing.
They already had a list started and knew that in order to get top dollar for their home, they had to do some updates, this was going to take time, effort, blood, sweat and tears (unsure if there were tears but I'm adding that for effect!!).
We could wrap this story up with the fact they put together a plan, a timeline and executed and bing, bang, boom we listed and they sold.
But what would a good case study be if we left out all the good parts?
They did in fact put together a plan.
They did put together a timeline.
They did talk to the right experts and tradespeople to get the necessary help that they needed.
They followed advice and ultimately blazed their own path to success.
The advice you receive prior to selling or buying a home should be thorough, well thought out and easy to execute.
Some of the advice that Tom and Sue were looking for was statistical in nature, how was their neighbourhood performing. Of course, that's where I came in to provide my expertise, but there were other professionals involved as well.
Our designer, Karla Nash of Karla Nash Design, was brought in to help with staging and design advice. Having someone on your team that is as thorough, helpful and selfless as Karla is a bonus to the client.
They brought in painters to hit the high areas, baseboards, casings and doors and renovated bathrooms (the ensuite rehab was beautiful!).
Timing was critical in all of this as we were in the middle of the Covid19 Pandemic shutdown of the economy. The real estate market took a huge dive in terms of sales in April and May, however, the Alberta goverment started to relax some of the measures they put into place which seemed to increase confidence in the market.
We could all see things coming back to life and figured that the best time to get to market was when inventory was at it's lowest spot but there was still a high level of demand. That meant getting listed at the end of end of May was the timeline.
Here's what they had to say about the timing:
Once we had completed the few remodel projects and few maintenance issue we were ready. Kelley helped
understand the comparable homes and we set the correct price for the conditions and the sale happened in
the first two weeks after an active first week of showings. This I attribute to the correct pricing, marketing
activities and Kelley's connectivity and Network.
The results were a successful sale within 7 days on the market, by the time conditions were removed they were on the market a total of 15 days.
The Calgary Real Estate Market was already in bad shape pre-Covid19, we have been in what seems like a continual recession the last decade and were firmly planted in a buyer's market.
Sales dropped by 63% in April and were down another 43% in May, but because we were watching the stats so closely and because Tom and Sue had put so much time, effort, money, blood, sweat and tears into their family home of 30 years, we were able to successfully time the market and come out with a big win.
Remember to do your research and always hire a professional regardless if it's a painter, a carpenter, a designer/stager and of course a Realtor, you will always get what you pay for.
*Names were changed to protect privacy