Maximize Your Sale Price

Effective Strategies for Selling Your Home For the Maximum the Market will Pay!

When it comes to selling a home, the most crucial factor is pricing—or what some call positioning. In a seller’s market, my wife and I usually advise pricing the property competitively, with a few exceptions. The aim of competitive pricing is to spark intense interest and create a bidding war, maximizing the sale price, minimizing the time on the market, and reducing the seller's inconvenience.

To ignite this level of interest, it’s vital to generate significant attention and enthusiasm for the listing during the critical first three days it’s live. Before recommending a list price, we conduct a thorough analysis of the current competition, focusing not only on the listed prices but also on the actual market value of comparable properties.

In a seller’s market, active competition carries more weight than recent sales data, as buyers are more influenced by the current options available. We propose pricing that positions our client’s home as the best-perceived value among the competition.

A well-priced listing immediately grabs the attention of active buyers, creating a sense of urgency that drives numerous showings in the first three days. This urgency taps into buyers’ fear of missing out (FOMO), a powerful motivator, especially for those who have already lost out on other offers.

Our goal is to attract multiple offers simultaneously. To achieve this, we often list the property on a Thursday evening and schedule an open house for Sunday, ensuring the listing gets maximum exposure over the weekend. This timeline allows interested buyers and their agents enough time to view the property and increases the likelihood of presenting multiple offers on Sunday evening.

By adding this expectation in private remarks to other realtors, we set the tone for a competitive atmosphere right from the start. This strategy also benefits from launching all marketing efforts simultaneously. For example, we include targeted marketing to out-of-province buyers from Ontario and British Columbia, who often see Edmonton homes as incredible bargains and may be willing to pay more than local buyers.

By creating this level of excitement and urgency, sellers can receive multiple strong offers within just a few days, significantly reducing the disruption caused by prolonged showings. We rarely advise sellers to accept an offer on the first day, as giving the market time to generate competition usually results in a better outcome. That said, alternative pricing strategies can also be effective, provided your realtor is skilled at negotiation.

There are certain scenarios where competitive pricing might not be the best choice—something I’ve covered in an article titled *Ask for Less, Get More*.

 Timing: The Key to Maximizing Opportunities Timing is another critical component of a successful sale. For instance, we sometimes recommend delaying a listing to ensure the best market conditions.

One example involved a half-duplex we listed in the spring. With our client’s new home possession three months away, we had a flexible window for listing. At the time, there were two similar properties for sale on the same street, leaving plenty of competition.

We advised waiting until those two listings went pending. Three weeks later, with no other comparable homes on the market, our client’s property became the only available option in the area. This allowed us to price the home $10,000 higher than the previous competition.

The result? Three offers within days and a sale above the asking price. Marketing: Reaching the Right Buyers Marketing encompasses everything from preparing the home for showings and crafting an engaging property description to leveraging digital tours, targeted advertising, and effective networking.

An essential part of marketing is identifying the buyer demographic most likely to see the property’s value and pay the highest price.

For example, we once listed a home on a uniquely shaped crescent that was slightly tricky to navigate but offered additional parking and green space. By focusing the description on the advantages—more parking, trees, and a tight-knit community feel—we helped buyers view the property’s unique location as a benefit rather than a drawback.

Marketing also includes clear, timely communication with buyers, realtors, and those who attend showings or open houses. Transparency and responsiveness play a crucial role in encouraging buyers to make offers. Ultimately, the more offers you receive, the higher your potential sale price.

Proven Strategies for Success.

These strategies—competitive pricing, smart timing, and comprehensive marketing—have consistently helped our clients sell their homes for full market value or the highest price the market will bear.

With the guidance of a skilled and knowledgeable realtor, you can develop a tailored listing strategy that reaches the right buyers and maximizes your home’s potential.