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Finance  »  Real Estate

A Price Reduction Strategy is a Must for Ontario Real Estate Sellers

By: preyank jain

Date Added : July 17, 2011 Views : 618
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With the housing market turning around at the beginning of 2011, and with the same trends forecasted for the rest of the year, many sellers are wondering what other Ontario real estate sellers are doing, so that they may follow in the same path. But there is no complicated process to making your home sell quickly, or some deep-buried secret only a few are privy to. There’s only one key thing you need to sell your Ontario real estate quickly, and that’s a good price reduction strategy.

There’s a simple explanation why some homes and commercial properties sit on the market for so long, while similar properties around them are getting swooped up – sometimes before they’re even listed on the market. These properties are usually just listed too high, and sellers don’t want to pay that much. This is often true with real estate in Ontario no matter the year or market conditions. But at such a critical time in these early days when the market is just beginning to boom again, having an attractive purchase price and utilizing a good price reduction strategy for that property that just won’t sell, is more important than ever.

One of the most important things about a proper price reduction strategy is to list your initial purchase price with a reduction price in mind, and remember that timing is everything. It’s a simple balance of knowing when you want to be out of your home, and what price it’s going to need to be when you get to that time. So for instance, if you want to move out of your home on October 1, you need to sell it well before September 30. You’ll first need to determine what date you do want to sell the property so that you can take into consideration things like closing costs, arranging the buyer’s financing, and home inspections. The date you want to sell should be about 60 days before the date you actually want to be out of the home in order to accommodate for these things that take time. So now you know the date you want to move out of your Ontario real estate, and the date you need to sell in order to make that happen. So what does that have to do with your price reduction strategy?

It all comes down to when, and how often, you want to reduce the price of the Ontario real estate. The best price reduction strategy includes a regular price reduction at regular price intervals. This keeps your Ontario real estate listing on top of the market at all times! So if you want to sell your property for $375,000 at the beginning of August, so that you can move out of the property on October 1, you should list the property at the beginning of May or June for a purchase price of $400,000. Your price reduction strategy then would need to include consistent price reductions from $3,000 to $5,000 every two weeks, beginning the second week that the home is on the market; this will get you to the $375,000 mark at the beginning of August where you want to be.

Of course, calculations and strategies are ever-changing in Ontario real estate. When it’s time to sell your home, come see me and let me know when you want to move, and I will provide you with a market evaluation price to sell at. Together, we’ll work from there to find a price reduction strategy that works effectively to get your home sold when you want it to, and at the price you want!

With Over 20 years of corporate business management experience kw real estate broker can assist you with any real estate requirements. Ontario real estate Kitchener, Cambridge and Guelph Ontario are our areas of expertise. Visit our website for Waterloo, Cambridge, Guelph & Ontario real estate listings.

Article Source: A Price Reduction Strategy is a Must for Ontario Real Estate Sellers

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