Research reveals Canadians would like to sell their own home, but lack the selling savvy
More than half of Canadians believe staging is important when selling a home, but haven't actually done it
TORONTO, Oct. 26, 2011 /CNW/ - For sale by owner (FSBO) is the new "it" concept when it comes to the real estate market, according to new research commissioned by Kijiji Canada. The study revealed that 61 per cent of Canadians would consider selling their home on their own if it was easy and more affordable than using a real estate agent and, in fact, 22 per cent of those who have sold a home in the past have sold a home on their own at least once.
But while the FSBO trend may be trending up, many homeowners may not be prepared to do what it takes to get the best price when going it alone in the real estate market. Important pre-sale steps to take include de-cluttering, renovating, and investing in curb appeal.
According to the new research:
- Nearly three-quarters (72 per cent) of those who believe decluttering is important didn't actually purge their home of many items before selling.
- A large majority (86 per cent) of those who believe conducting renovations is important before selling a home didn't do any when selling their home.
- A large majority (86 per cent) believe staging is important, but 61% of those who think it's important didn't do it.
Janette Ewen, staging specialist and Kijiji Agent, says getting important pre-sale preparations done when selling a home can often be a challenge simply due to personal finances and time restraints: "Pre-sale home improvements usually come down to time and money. The beauty of having online resources like Kijiji is that you can save time and money by shopping for unique, stylish and gently used items to beautify your home, from the comfort of your home."
Top tips to beautify your digs
The survey also found that the majority (62 per cent) of Canadians are doing minimal maintenance to prepare their home. But when it comes to the sale itself, not everyone feels they are getting a fair price (21 per cent), often because they didn't take the time to declutter or invest enough in staging. With this in mind, Kijiji's Agent suggests following some simple tips:
- De-clutter your domicile: De-personalize your home before showing it, and the first step in this process is to de-clutter. Moving is an excellent time to do this anyway, as you really don't want to be stuck transporting more than you have to. Stop, take stock of what you really use, and get rid of what you don't need. You can make some money to offset any moving costs by selling unwanted items on Kijiji.ca. Once you've de-cluttered be sure to give your entire home a thorough cleaning.
- First off, fix it: When a potential buyer notices that broken drawer or leaky faucet, you can lose the sale. Correcting minor problems are worth the small investment to help seal the huge deal. The impression of a house in disrepair can jeopardize a sale.
- Stand out with staging: Kijiji's research shows that many Canadians are already savvy stagers, with 33 per cent taking steps to properly prep their property. A few small steps can make all the difference:
- De-personalize: remove items such as trophies, children's artwork, and family pictures.
- Neutralize: What may be appealing to you may not be so appealing to someone else. Allow prospective buyers to envision your home with their preferred colours, artwork, and furniture by keeping things as neutral as possible.
- Sweat the details: For open houses, it's important to add a little extra something with things like scented candles, a bowl of fruit, and accent pillows. Kijiji.ca is a great resource for finding these kinds of accents.
Real estate by the numbers
Who's the savviest at selling their own home? What community has bought and sold the most homes? When it comes to real estate know-how, the survey also reveals interesting differences from coast-to-coast:
- British Columbians are savvy salespeople. Sellers in BC have sold the most homes on their own than any other province, at 31 per cent. The province also has the highest percentage reporting that they plan to sell within the next year, at 17 per cent.
- Staging separation. When it comes to self-staging, sellers in Alberta have done in the most at 39 per cent, versus their Saskatchewan neighbours, who self-stage the least at 14 per cent.
- People who purge. Sellers in Ontario seem to have the least trouble getting rid of items before selling their homes, at 37 per cent, while Quebeckers have the hardest time, at 19 per cent.
- Handiest hamlet. Who renovates the most in preparation for sale? Sellers in Atlantic Canada appear to be the most adept at 20 per cent.
- Fair market value for whom? Atlantic Canadians are least happy with what their homes sold for, with 27 per cent of sellers reporting that their home sold for less than market value.
"This research corresponds with what we're seeing on Kijiji.ca when it comes to the for-sale-by-owner trend," says Zachary Candelario, general manager, Kijiji Canada. "Over the past year we have seen an increase of over thirty-seven per cent in traffic to housing and almost double the inventory of property for sale on our site. With 99 community sites across the country and no posting fees, Kijiji is a free way to buy, sell and rent property. And in fact, right now there are already more than 75,000 properties for sale on the site, meaning lots of choice for Canadians."
These are some of the findings of an Ipsos Reid poll conducted between October 5th to 7th, 2011, on behalf of Kijiji. For this survey, a sample of 1,027 adult homeowners from Ipsos' Canadian online panel was interviewed online. Weighting was then employed to balance demographics and political composition to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of this size and a 100% response rate would have an estimated margin of error of +/- 3.1 percentage points, 19 times out of 20, of what the results would have been had the entire population of homeowners in Canada been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
About Kijiji Canada
Kijiji, which means "village" in Swahili, is the number one classifieds site in Canada, connecting nine-million buyers and sellers each month. Kijiji.ca offers Canadians a free, easy, and local way to buy, sell, and trade goods and services in their community. With local sites for more than 99 cities and towns across the country, Kijiji makes it easy for Canadians to find exactly what they're looking for in their own community. Kijiji Canada is part of the eBay Classifieds Group, the global leader in online classifieds with a global presence in more than 20 countries and 1,000 cities.For further information:
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Environics Communications on behalf of Kijiji Canada
Environics Communications on behalf of Kijiji Canada