Do’s, Don’ts & A Quick Mahogany Home Selling Guide
With so many Mahogany homes for sale at any given time knowing the market is key. We will touch on this in depth right away as it’s the most important point we can make. The Mahogany market will dictate how quickly and what price you will get for your Mahogany home.
Once you decide that you want to sell your Mahogany home then you should try to change your mindset as soon as possible. Think of your home as a product to sell and not a home anymore. Try to remove yourself from the memories and emotion.
This is hard. We know. But it will help in selling your home and getting top dollar. Now you can focus on getting your home ready. Clean it well. Declutter. Stage your home. Repair anything that needs it. It is now a beautiful item to sell on the market.
You can sell your home in many ways. There are Realtors that will sell your home for you. There are commission free websites. You can also try to sell it 100% on your own. All have there pros and cons. We strongly encourage a professional Realtor (shocking huh?).
But we’ll go over the pros and cons of all these selling methods. Realtor, commission free sites and selling on your own. Getting your Mahogany home sold in a timely manner and not leaving money on the table is the goal.
There are usually more then 1 or 2 Mahogany homes for sale. That means there’s competition and competition for a home seller isn’t ideal. In some years there are 100+ Mahogany homes for sale while other years there are just a handful. Which brings us to our first point…
Knowing The Mahogany Homes Market
Listing your home can vary drastically depending on the market conditions at the time. There are three types of markets in general. Buyer, Seller and Neutral.
A buyers market means that there are a lot of Mahogany homes for sale and you will be just adding your home to the many that are already selling. There are also not many buyers in this market.
All that means that the seller has a lot of competition and prices will usually go down or days on the market (DOM) will go up. Not great for the seller. Any negotiations usually favor the buyer.
But there are things we can do to make a buyers market more seller friendly. And get more power during negotiations with buyers.
A neutral market means that all the Mahogany homes for sale are pretty equal. There are a similar amount of buyers and sellers. Inventory is right where it should be (LINK to data). That means that no one really has an advantage in the negotiations.
Finally, the sellers market. In this scenario there are few Mahogany homes for sale. There are many buyers looking for a home. Inventory of Mahogany homes is on the lower end.
The seller has all the advantage in this scenario. Competition is low so negotiating power favors the seller. This is the BEST scenario for a seller. Bidding wars could start in this scenario. Great for the seller but not so great for the buyer.
Another thing that will affect all the Mahogany homes for sale in any year is the seasons. Just like weather seasons there are season in real estate. It’s pretty simple but something you need to consider if you want to have negotiating power.
Spring – This is the sellers time to shine. Many people start looking for Mahogany homes at this time. More buyers come out of the woodwork. You can work on your home to make it look amazing. This would be the busiest time of year.
Summer – Things taper off significantly in summer. Houses still sell but many buyers are vacationing and so are sellers. People are enjoying the weather and aren’t as worried about real estate. As the seasons for real estate go. This is as balanced as it will get.
Fall – Another good selling opportunity to get your Mahogany home listed. Many people have finished summer vacation and get back into the real estate market. This would be the second busiest time of year.
Winter – The slowest of all. Most people don’t want to move in the cold and snow. They are also thinking of the holidays. Many Mahogany homes for sale in this season need to sell. This is a great time for a buyer to purchase as most people that can’t wait until spring would sell in this time. Good time to get a deal.
Knowing the Mahogany housing market is very important to selling your home. That’s if you want top dollar. We know that some people can’t wait due to circumstances but if you can it would be worth it.
If you want an easy and quick look at the Calgary market then please click here. Then click on the Calgary snapshot. Its a great resource for anyone selling their Mahogany home.
Selling Your Mahogany Home. It’s A Product Now
You’ve decided to sell your Mahogany home and put it on the market. Now its time to change your mindset. You should change your view of the home from a place of memories and maybe family to a product.
Once you decide to sell your home becomes an item. We know for some people this is difficult. You’ve lived in Mahogany for years and its home. We feel you. Some people get much more attached then others. That doesn’t change the fact that you want to sell your home.
Selling an item is a lot easier then your family home. The sooner you can change your mind on this the better. Once you treat it like a product its easier to sell, be less emotional and get the most for your Mahogany home.
Now that’s done we can start repairs. You should repair anything that might hinder a sale on your home. You might think that the buyer can do it or what’s the big deal with a few small repairs? There are 2 main reasons.
One is that there are a lot of Mahogany homes for sale. Usually more then 2 or 3. Let’s say there are 10 that are in direct competition for your home in Mahogany. Your home needs repairs and work. Money to buyer has to spend. Don’t forget the time and headache of doing it.
Most sellers will put an offer on the home that is move in ready. Unless you’re willing to give a large discount on the home for the repairs then you will lose buyers. Discount on the price brings us to the next point.
The second reason to repair things is that most buyers have a very inflated idea on what a repair costs. What we mean is that many buyers will look at a broken toilet in your stunning Mahogany home and think this will cost me $700 to repair. In reality a plumber can do it for $300-$400 or you can do it yourself for $99 (cost of a toilet).
You get what we mean. They will add up all the repairs and issues. Then give a large number. $10,000 to repair the deck, toilet and cabinet. When in reality a handyman can do this all for $1500. Don’t leave money on the table.
The last part of making your home a product is making it shine. Why do most items you purchase in a store have a beautiful box and under nice lighting. It looks nice and you want it more. Mahogany homes for sale are the same. And remember you’re not the only one selling your Mahogany home. You have competition.
That means we shine up the product, your home. Clean it very well or hire someone. Get a designer or stager to come in and help you make the most of your Mahogany home. If the staging company uses your furniture and just adds a few small items it can be very affordable.
Here’s a great article why staging your home and making it look it’s best is important. Take a look!
Commission Free, Realtors, Myself, Oh My!
After being in real estate for over 15 years you notice things. Selling a home can be very easy and take little time. It can also take forever and everything can go terribly wrong. Lawsuits, angry buyers and professionals.
Not to mention the liability of selling your home. Mahogany homes for sale are usually on the more expensive side so if something goes wrong it can be even worse with a lot more money involved.
Knowing how to sell your home is important. Experience and knowing the market is key. Realtors know this. They will steer you away from trouble. They will do all the leg work so you just sit back.
They will make sure you get top dollar and the deal goes through. They’re the “glue” that holds the Mahogany house deal together when it would have fallen apart. They also have insurance and are committed that everything is legal and done by the book.
What are the negatives of a Realtor selling your Mahogany home? There are 2 main disadvantages to hiring a Realtor. The cost and the work being done.
A real estate agents commissions are negotiable. But there is a trend that most get 7% on the firs 100,000 and then 3% on the balance. That is what you typically see. This can be expensive for some people. A mahogany house selling for $400,000 could have a commission fee of around $16,000. Now this is split between the buyer agent and selling agent.
The second disadvantage is the real estate agents vary in skill and competence. You want a real estate agent that knows their stuff. The Mahogany housing market. Has good rapport with buyers and other agents. Knows the legalities and liabilities.
But the most important thing is that they’re a great sales person. In the end they’re selling your product so they NEED to be amazing at selling things. Mahogany houses for sale at this point.
Commission free sites and companies are another way to go. There are many out there and offer different services at different prices. If you want to sell your Mahogany home via a commission free site then go for it!
The main advantage in doing this is price. Usually, you can save commissions when you use a commission free company. Now a lot of the time you will still pay the real estate agent whatever commission they have on that house. But you’ll save on the selling side commission.
The main disadvantage for your Mahogany home with a no commission company is the quality of service. It can vary drastically. You usually don’t get white glove service with these companies.
Some just list your house and you have to figure out the rest. Some do everything a la carte or piecemeal. What that means is that you choose the services you want and they’ll price accordingly. Also check that these companies will cover you for liability and other legalities when selling.
This choice might be good for someone that has a lot of experience buying and selling real estate and is comfortable doing most of the legwork.
Finally, we come down to selling on your own. Not our most recommended method but as Realtors who can blame us. The main advantage here is a huge savings in commissions. Again you will probably pay the buying real estate agent on the Mahogany homes listing. But you will save the entire selling side commission.
Another advantage is that you’ll have ALL the control. No Realtor or zero commission company telling you how you can sell or not sell your home. If you like to get your hands dirty then this is for you.
The main disadvantage is that it all falls on you. All the paperwork, showings, legalities, liability, sales. Everything is on your shoulders. This can be very daunting for many people. If something goes wrong or you don’t know the real estate laws you will be sued. You might lose money and a lot of time. Not knowing the laws is no excuse.
Selling a home isn’t trivial and you’d be doing all the selling. Marketing the home, talking to all the buyers and working with whomever comes along to buy your Mahogany homes. Again, great for someone who had A LOT of experience in selling Mahogany homes or real estate in general.
This is totally biased and we know it. But what can you say. Why you should choose a Realtor to help you sell your Mahogany homes. Check it out!
Mahogany Homes For Sale – Will Yours Be One?
Adding your home to the many Mahogany homes for sale can be daunting. Especially for the first time home seller. There are a lot of moving parts. From knowing the market to getting your own mindset around selling. Making sure your pick the right Realtor or selling on your own. The legalities around selling your home. Man, it’s a lot.
The good news is that there’s a lot of online resources to help you. Here are a few to get you started in the world of Mahogany real estate.
We also promised you a Do’s and Don’ts list. It’s a great list of things you should and shouldn’t do when adding your home to the Mahogany homes for sale this year
Selling Your Mahogany Homes Do’s
* Do change your mindset to selling a product and not your home you love.
* Do repairs, declutter clean and stage your home. It’ll make you more money and save time.
* Do hire a Realtor if its your first or second time. There’s a lot to know and a professional is in your corner
* Do know the market. Whether selling you Mahogany home with a Realtor or not
* Do be realistic. Sell your home for the market value. It’s save you time and get you a better price in the end
* Do walk the Mahogany homes for sale. Check out your competition. Even go look at a few with your Realtor
Selling Your Mahogany Homes Don’ts
* Don’t add emotion to the sale. Emotions get in the way of selling your product. It’s tough but must be done
* Don’t ask for the very top of the market price of your Mahogany home but have done no repairs, cleaning or market pricing analysis
* Don’t take the Mahogany sales process lightly. We’ve seen people get into a lot of trouble and lose money, sleep and time. Get your ducks in a row
* Don’t hide things. This isn’t legal. You can’t hide house defects or issues. Get them fixed. They can bite you years down the line
* Don’t look at other Mahogany homes for sale and think I’ll get exactly that price. The market changes all the time and you might not know their yard is 3 times the size of yours and that’s why they got more
To wrap up about selling your Mahogany home. With some work and knowledge at your back you can get your home sold in Mahogany for a good sum and in a timely manner. Now trying to get a space on the Mahogany beach on a hot Calgary day… well that’s another story.