Dear Montrealers, it is with great pleasure that I announce that the 2013 fall market (in my personal experience) is coming early and has begun. I have been busy with visits, writing offers and assisting during inspections. Many of you have also had the pleasure of meeting me during my prospecting;

A method I use to promote my services is what we refer to as “Expired Listings”, when a property is put on the market with a broker there is a term for the contract, the contract expires at the end of this said term. I allow a full month to go buy in case the seller would like to renew their agreement with the same broker, if there is no renewal I will be delivering a letter to your front door offering my services for the upcoming market. I have had much success with this method in the past; I utilize marketing methods that may be considered “Out of the Box” that often attract some new eyes to a property.

Earlier this year the market was changing, now the new market has established itself and we must deal with it. Generally speaking, in our city the value of homes has not reduced since last year. However, the reality is that prices have not increased at the same rate as previous years either. Twice as many properties for sale, low interest rates, and our economy have created the market we have today, a Buyers Market. Sellers that want to be successful in this market must first understand and then adjust to it.

Primarily because of inventory, Buyers will have more leverage than Sellers in this market. Proper presentation will help out in a huge way, last year you wanted to be selling your home in a desired location, this year you want to be selling the nicest home in this same desired location to attract the buyer.

Montreal West

In Montreal West, July has definitely made up for slower months this year. We remain lower than previous years with number of properties sold but make up for it with quality. We are just beyond a 10% increase in average selling price. Because of its dominant residential market, Montreal West usually does quite well in the fall market. Open Houses will attract a lot of people when the temperature begins to drop.

Thank you very much for having taken the time to read this month’s article, I look forward to meeting more of you, feel free to contact me for an evaluation and to bring your property to market.

Best Regards,
Philip Clement.