Mistakes2

With the real estate market as hot as it is, some sellers might think that they can get away with pricing their home for more than its worth. But according to a May 2015 Ipsos Reid poll, three out of four buyers looking to purchase a home within the next two years say that the listing price has a big impact on whether or not they want to see more of a home. The poll was commissioned by the Ontario Real Estate Association (OREA) for its Ontario Home Ownership Index, a semi-annual province-wide research study.

OREA stresses that setting the sale price is one of the most important steps in selling a home – price it too high and no one will show up, price it too low and you could lose out on thousands of dollars.

The study also found that the features on the listing sheet (56 percent) and interior photos (55 percent) have a big impact on a buyer’s decision to want to see more of a home. Aspects like the average household income of the neighbourhood (22 percent), the age distribution of the neighbourhood (23 percent) and proximity to a highway (29 percent) had the least impact.

For more information about the Ontario Home Ownership Index, visit www.OREA.com.