The evidence needed to show the value of using a REALTOR® came in May when new monthly milestones were reached.
For the first time in the WinnipegREALTORS® Association’s 104-year history, monthly MLS® sales broke through the 1,500 mark and then catapulted past 1,600 to 1,652 unit sales.
The once lofty $200-million benchmark level for dollar volume was left in the dust with close to $300 million in MLS® sales activity in May.
Close to 55 per cent of all residential-detached sales (just under 1,300) in May sold for above list price and another 10 per cent achieved list price.
Many MLS® areas had sales outstripping the listings that were entered onto MLS® in the month of May thus depleting the association’s active MLS® inventory.
Houses sold in May were only on the market an average 19 days and condominiums spent even less time averaging 16 days. This compares very favourably with exceptionally robust MLS® home sale activity in other Western markets — Calgary’s average days on the market in May was 25 and Saskatoon’s just 15 days.
The average days on market for Winnipeg’s remaining MLS® residential-detached inventory is only six weeks.
Success in the market is all about giving consumers maximum exposure on MLS® through a network of 1,200 local and 90,000 national REALTORS®.
The key to selling quickly and getting top dollar is exposure. The more people who see your home, the sooner you will find a willing buyer.
How do you get the most exposure?
If you sell the home yourself, you will get some exposure by putting up a sign, running some ads and telling your friends. On the other hand, if you work with a REALTOR®, you will get instant and mass exposure to a large number of prospective home buyers.
A REALTOR® has access to the Multiple Listing Service® (MLS®). This service, a computerized system operated by the local REALTOR® association, compiles information about listed properties in the area and makes it accessible to member companies. As a result, when a REALTOR® lists your home, REALTORS® from other companies learn about your home and try to match it with buyers with whom they are working. These buyers may include people from out-of-town who are trying to relocate to your area.
A REALTOR® can speed the selling process in other ways:
• By specializing in real estate, a REALTOR® knows market values and can therefore help you set a competitive price for your home.
• A REALTOR® can free you from the hassles associated with showing your home and screen out people who are merely curious.
• A REALTOR® is objective when negotiating with buyers and experienced in reading the fine print of contracts.
• By staying on top of the mortgage market, a REALTOR® may know how to wade through financing tangles and clinch a sale.
Selling a home is not something that anyone can do in their off-hours. It’s a specialized service best handled by a professional — a full-time real estate practitioner.