Photo: Contributed
If you’re like most Canadian homeowners, you’ve probably seen your home value skyrocket over the last few years.
With talk of interest rate hikes on the horizon, we don’t know how long this bull market will last—and if it’s going to end with a whimper or a bang.
What we do know is that real estate in Kelowna, BC, is selling for record prices in 2022. Many Kelowna homeowners wanting to lock in top dollar for their Okanagan home think now is a great time to sell.
You have a lot of options in Kelowna when it comes to real estate. If you’re selling your home in the Okanagan, here are seven factors to consider before putting your home on the market:
1. Top dollar prices
Last spring, Association of Interior Realtors showed the average property* sold for 99.8% of list price.
Not all listing brokerages performed the same, however. Vantage West Realty’s listings sold on average* for 103%—a 3% increase over the market average. With the price of single-family homes in Kelowna reaching $1 million in 2022, 3% is no small peas.
Vantage West Realty attributes its higher selling prices to its proprietary 3P Listing Launch Method that more often than not leads to multiple bid situations. That means you’ll get the absolute best price and terms for your property.
Vantage West Realty is also known for putting its agents through the rigorous Certified Negotiation Expert (CNE) program to stay on top of their game.
2. What guarantees or sale assurance are offered?
A quick Google search reveals there are a couple of options to consider if you are looking for some form of risk removal. There is a guarantee being offered by the Collective Real Estate Group. If your home does not sell within 39 days, they will sell it for free.
And you have the widely known Guaranteed Sold Program at Vantage West Realty. Vantage guarantees that your home in Kelowna will sell for at least fair market value in an agreed-upon time frame—or they’ll buy it from you themselves. This has made them a bit of a maverick in Kelowna real estate.
If you’re selling and buying locally, this is a complete game-changer. The sale assurance effectively turns you into a cash buyer, meaning you can confidently shop for your next home with a leg up against non-cash buyers.
For more than a decade, Vantage West Realty founder AJ Hazzi has stood true to a very bold offer for Kelowna home sellers.
3. Speed matters
During the busiest spring months of 2021, the average listing took 40 days to sell. Market leader Vantage West Realty’s listings sold 50% faster than the market average at 19 days.
Their 3P Listing Launch includes a robust, pre-MLS marketing push that gets buyers lined up to view properties on opening weekend.
4. Secure your new dream home before you sell
If you’ve got your heart set on a new home but you haven’t sold yours yet, a Buy First Then Sell program gets you cash right away so you can secure your dream home and pick your own moving date.
Here’s how it works:
If you don’t have the capital ready to buy your next home, you are provided with a firm sale guarantee for your current home, which lets you unlock your home equity so you can secure financing for a home you love.
After you’ve already moved out of your old home, you sell it on the market. As of today’s date, Vantage West Realty is the only firm offering this program, but it expects to see more competitors offering this in the future.
To attract the best buyers, the Vantage West team takes care of cleaning, staging and marketing so your old home looks its best while you relax in your new one. On top, you’ll keep every penny above the guaranteed sold price.
5. Is your home at its maximum value?
It’s no secret that updated homes without any deferred maintenance attract the most attention. Could your home use a quick spruce up to get the maximum dollar?
A good real estate agent should be able to consult you on where the lowing hanging fruit renovations are without breaking the bank.
Alternatively, here’s a program to consider: If you need to do any upgrades or renovations before selling your home, you can access up to $30,000 to cover your renovation costs using Vantage West Realty’s Fix & List Program.
Here’s how it works: A Vantage consultant and staging professional works with you to determine the smart fixes and high-return renovations. Vantage will arrange for its preferred licensed contractor to do the work at competitive prices, and loan you up to $30,000 for your renovations and repairs—completely interest-free.
The Fix & List Program gives you a chance to maximize your current home’s value so nothing is left on the table. If you combine their Fix & List program with their Buy First Then Sell program, you can literally take possession of your new house and use their money to “flip your old house” for profit.
6. Make sure you read the reviews online
You wouldn’t try a new restaurant without first reading reviews online, so why would you trust the sale of your largest asset with someone without first reading their reviews? In a time when online reputation can make or break a company, one only has to spend a few minutes reading the hundreds of heart-felt genuine reviews from customers that were glad they enlisted this little-known boutique agency to help them maximize their largest investment .
Dubbing themselves as the “real estate office of the future,” Vantage West Realty now has more than 700 positive Google reviews, glowing testimonials on Rate-My-Agent.com, and a 2021 Consumer Choice Award.
7. The easy exit policy minimizes seller’s risk
If you work with a traditional agency, listing your home can be a stressful proposition.
You’re usually locked into a sales contract for at least three to six months, and if you do cancel—for any reason—most agents won’t let you sell for two months without paying them a hefty commission fee.
Vantage West Realty lets you back out of your contract at any time—no matter what happens. If you don’t feel like it held up its side of the bargain, you can fire Vantage and walk away scot-free.
And if you do walk away, Vantage will help you transfer ownership of their professional photos to your new agent so you don’t miss a beat.
*Central Okanagan, March 1 to June 1, 2021. Average days on market: Vantage: 17, Average: 48. Average list to sale price: Vantage: 103%, Average: 100% ($30,000 represents 3% on the average single- family home of $1,000,000).
This representation is based in whole or in part on data generated by the Association of Interior REALTORS®, which assumes no responsibility for its accuracy.
This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Castanet.
