The Basics of Marketing Your Chatham, Ontario Home

There are a lot of things that a realtor considers before marketing a property in Chatham-Kent. Major considerations include how to advertise the property, showing the property, how long the house has been on the market, and whether the buyer is considering purchasing another home.

Real Estate Advertising and Promotion

Properties in Chatham-Kent are commonly advertised through real estate agent Web sites, Internet home search/listing services, classified advertising and real estate guides. Promotion efforts through office and MLS tours are a good way of getting other buyer agents to view your home and to promote it to the buyers they are working with.

Even with all these advertising avenues, "For Sale" signs on front lawns are still remarkably effective. Many realtors promote their Web sites on the sign and use brochure boxes with the signs to market the property. When appropriate, and with your permission, I may even send a mailing about your property to neighbours. You never know – one of them may have a friend or relative looking to relocated to the Chatham-Kent area. Believe it or not, traditional, word-of-mouth advertising still has far reaching benefits.

Showings and Open Houses

To prepare your home for viewing, make it as bright, clean, and cheerful as possible. Always look at your home from the buyer's point of view. Furthermore, if I suggest that you be absent for any viewings, please don’t be offended – your presence could inhibit a potential buyers’ actions and conversations. A buyer wouldn’t feel comfortable opening closets, testing out the plumbing, and discuss general observations objectively if the home owner is standing nearby. It goes without saying that your children and pets should not be on the premises either.

It’s also nice to notify the neighbours when you schedule an open house. They may be interested in dropping by or bringing friends along.

Quick Tips for Showings and Open Houses in Chatham, Ontario

  • Clean or replace dirty or worn carpets.
  • Open all curtains and blinds.
  • Replace any burned out light bulbs and turn on all lights.
  • Clear all clutter.
  • Clear all countertops.
  • Wash and put away any dirty dishes.
  • Set the dining room or kitchen table if you have particularly nice linen or china.
  • Simmer a few drops of vanilla on the stove.
  • Put on soft music.
  • Burn wood in the fireplace on cold days, otherwise, clean the fireplace.
  • Put fresh towels in the bathroom.
  • Take any laundry out of the washer and dryer.
  • Leave the house so your realtor is free to deal with prospective buyers in a professional manner.
  • Put pets in cages or take them to a neighbour.

How Long Has Your House Been on the Market?

Professional appraisers sum up their entire body of knowledge in three words: "Buyers make value." Your home is worth as much as a buyer will pay for it.

If your home has been on the Chatham, Ontario housing market for months, it’s a clear message that the property may not be worth what you're asking for it. This is particularly true if there haven't been many prospects coming to see it. What you do at that point depends on whether you really need to sell, and whether you're working with a time limit.

If you're not really motivated to move soon, you can always wait - years if necessary - and hope inflation will catch up with the price you want. The problem is that in that time, your home begins to feel shopworn. Buyers become suspicious of a house that's been for sale for a long time.

If you really do need to sell, I would suggest discussing a schedule for gradually dropping your price until you find a level that attracts buyers. There's no point in saying, "We simply can't sell our house." Anything will sell if the price is right.

If You’re Buying Another Home

You may wonder what will happen when you're selling one home and buying another – how will all the details work out? This is a common situation and realtors, lawyers, and title and escrow companies have plenty of experience in arranging contracts and loans so that the two transactions dovetail smoothly.

Should you sell your home first then buy, or buy first then sell? Ideally, it’s best to find a home you like and make an offer subject to selling your current home. This generally works in a normal market. However, in a “hot” market most sellers will not accept a “subject to sale” offer. In this case you need to sell your current Chatham-Kent home first and then buy a new home in the interim period between selling and vacating your house.

If you find that you need to buy the next house before you've received the proceeds from the present one, lending institutions can sometimes make you a short-term "bridge" loan to tide you over between the two transactions. Make sure you fully understand the exposure and emotional investment before proceeding with this type of loan.