Is hosting an open house right for you? For many sellers, open houses can seem like a hassle and not worth the time or effort it takes to prepare for one.

While an open house isn’t right for every property, it can attract attention and generate buyer interest in your home. In the best cases, an open house can even create the right environment for a bidding war! An open house may be worth it when:

– Your home stands out: If your home has unique features that are a selling point–like a mother-in-law suite–or stands out from the other homes in your neighbourhood, then host an open house to show off your property. 

– You live in a high-demand, populated area: If your area sees a lot of foot traffic, you should have an open house because you never know who may stop in! Likewise, an open house can generate more buzz if your area is in demand. Rather than having to deal with a bunch of individual showings, an open house can reduce the time and energy you put in as a seller.

-Your property has highly sought-after attributes that are hard to find: When your home has special attributes, people will want to come to see them in person, so give them an easy way to do so with an open house.

-Your entry-level home appeals to first-time buyers: First-time buyers love open houses because they’re a low-pressure way to see a home. If your home is perfect for first-timers, strongly consider hosting an open house. 

On the flip side, if your home doesn’t fit these guidelines, an open house might not be the best fit for your property. Your real estate agent will be able to provide the best advice for your situation. 

But for most sellers, hosting an open house makes it easier for buyers to see your home, increasing your chance of getting a great offer. 

Want to know if an open house is right for your property? Feel free to contact me.

Harpreet Christie

RE/MAX of Lloydminster

(780)205-7653

BorderCityRealEstate.com

When it comes to selling your home for top dollar and for the least amount of energy and time on your part, you might be wondering if a real estate agent or an iBuyer is the best choice.

iBuyers are companies that use the internet to sell your home online or through an app. They claim they can sell your home quickly and easily for less money than a traditional real estate agent. But that’s not the whole story.

Where a traditional real estate agent like me can help you get your home ready for the market through updates, staging, and professional photos, an iBuyer will list your home as-is with standard photos. This can be a big mistake because real estate is about first impressions. If your listing photos and listing descriptions aren’t good, you might not catch the attention of potential buyers. A real estate agent can market your home for top dollar and ensure it gets seen by the right buyers.

iBuyers say they can sell your home at a discount with a 7% commission. But there are many hidden fees involved with iBuyers, and they’re not upfront about the total cost. A real estate agent will be transparent about all the costs you’ll incur throughout the selling process and will only take the standard commission.

As a result of these issues, iBuyers tend to undersell homes and will net you a below-market return on the sale of your home. You want to get the most money out of your home, which is why working with a real estate agent is so important. Typically, real estate agents can net you 10-15% more on selling your home–which is exactly what you want when you sell!

You want to walk away from the closing table with the most money in your pocket. If that’s true for you, it makes the most sense to go with a traditional real estate agent. I’m accepting new seller clients, so if you want to talk with a real estate agent about selling your home, feel free to contact me.

Harpreet Christie
RE/MAX of Lloydminster
(780)205-7653
BorderCityRealEstate.com

Spoiler alert: even though the market is shifting, you can still win whether you’re a buyer or a seller!

When you work with the right real estate agent, you can make good real estate decisions that fit your lifestyle needs and set you up for financial success–yes, even in our crazy market.

Sellers, you’ll want to consider getting your home on the market soon to meet the highest demand. Because our market is not moving as fast as it was this time last year, working with an agent to market your property for top dollar is even more important.

The reason for this change in demand is that rising interest rates are making some buyers wait to jump into the market. While we still have a lot of demand now, making it a good time to sell, we don’t know what the future holds.

But don’t let this discourage you–there are still plenty of buyers looking for a home like yours, and we’re still in a strong seller’s market.

For my buyers, being patient and strategic is key right now. Although we’re in a seller’s market, great homes that could be perfect for you are hitting the market every day. Working with an agent is key for buyers as well because your agent will be able to guide you through the process of figuring out your wants and needs, getting pre-approved, and hunting for the best home for you.

To win in our market, you need to be patient, whether a buyer or a seller and work with a good agent.

I always recommend that buyers and sellers meet with and interview at least three agents so you can find someone who brings the experience you need, meets all of your needs and is easy to work with!

I’m currently accepting new clients, so if you’d like to set up a time to chat with me about your real estate goals, feel free to contact me.

Harpreet Christie
RE/MAX of Lloydminster
(780)205-7653
BorderCityRealEstate.com

Interest rates are on the rise. While they’re still historically low, they’re higher than a year ago, which can be less than optimal for buyers. Many of the buyers we’re seeing in the market today are very cognizant of this shift.

Today’s buyers still have the same access to the upfront money for down payments and closing costs as buyers from the past couple of years. But buyers realize their money won’t go as far due to rising interest rates.

This is one of the reasons why we see demand start to shift. For example, if your house was listed on the market for the same amount today and last year, today’s buyer would end up paying more for the same house at the same price due to the higher interest rates. Right now, it’s those long-term financials that are the current issue for buyers.

Sellers may want to ask themselves what they can do to reduce the long-term effects of high-interest rates for their buyers to attract the best buyers and get their homes sold quickly. As a result of the rising interest rates, some buyers can’t afford as much of a home because their monthly payments will be higher due to interest.

You’ll also watch out for places where financing may fall through. Because interest rates are rising quickly, you may be in a situation where your buyer was pre-approved at a certain rate when making the offer, but interest rates rose in the interim, and now they can’t get approved for the same mortgage amount. This is an uncomfortable situation for both the buyer and the seller.

If this happens, your seller’s agent will offer options that fit your specific situation. One option may be to buy points from the buyer’s mortgage rate or come to a new negotiated purchase price rather than go through the entire purchasing process again with a different buyer.

Your agent will guide you through every step of this process and market your home so you can attract the best buyers and sell your property for top dollar–even in a time of rising interest rates. If you want help getting your home sold quickly and for the best ROI, feel free to contact me, and we can discuss your real estate needs.

Harpreet Christie
RE/MAX of Lloydminster
(780)205-7653
BorderCityRealEstate.com