Seller Survey Finds That Homeowners Need Help Understanding Selling Process and Documents

If there is one universal worry it is what is the state of the real estate market and seems 77% of us share this concern.  The Ontario Real Estate Association recently commission a survey (conducted by Angus Reid) to measure what issues home sellers were concerned with.

  • 61% of Ontario residents surveyed outlined that they had concerns when selling a home of understanding the selling process and the legal documents required in a sale.
  • 60% were concerned with fixing up the home to list and what should be done.
  • 59% saw the number of days on market as an issue

These statistics are true as my sellers and I always have a checklist before we put any home up for sale.    What I find is that we prioritize the fixes which will make the house show great as well as contributing to the home’s value.   Extending days on market is a big concern and what I see which fuels a home not selling is it being overprices as well as shows poorly.  Check out buyer statistics of what they are looking for.

Some other findings:

  • More men than women feel a sense of inconvenience when selling a home (44% for men and 38% for women)
  • When fixing up a home for sale it seems that 62% of women saw this as a concern as opposed to 57% of men
  • It seems that depending on our household income also indicated a concern about their ability to negotiate the price of a home.  50% of people with a total household income over $100,000 were concerned regarding price negotiation, 56% of those in the $50,000 – $99,999 range and 62% of those in the $50,000 or less.
  • 59% of those surveyed stated they would feel anxious if their home had not sold after being on the market after 45 days.

According to the Toronto Real Estate Board, in 2010 it took on average 37 days to sell a home and in 2011 it dropped to 32.