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How to Sell Your Whistler Property in a Bidding War!


How to Sell Your Whistler Property in a Bidding War!

Dean Linnell

Dean has lived in Whistler for 26 years and is passionate about the Whistler real estate business...

Dean has lived in Whistler for 26 years and is passionate about the Whistler real estate business...

Feb 2 4 minutes read

Real estate bidding wars in Whistler are the new reality. Will this go on forever? Definitely not. But for the time being this is what we're dealing with and if you're a seller, lucky for you. You're in the driver's seat. Now let's make the most of it!

1. Pricing

It's key to understand the current Whistler marketplace, but more importantly, what's happening in the exact area your Whistler property is located in what listings are about to come on the market. What properties have recently sold is listing inventory still dropping, or has it started to rise, you need to take a close look at the micro conditions in your neighborhood of Whistler or your Whistler condo complex. This is for consultation with an experienced Whistler realtor is extremely important. But don't get too cocky because you can drive perfectly good buyers away if you don't manage the situation carefully. And take the advice of your realtor, you need to price your property well or it'll simply be too far above what anyone is willing to pay regardless of how hot the market is.

2. Marketing

And your realtor needs to go nuts with the marketing program. Push that property with all its visuals and video out to all the relevant marketing channels including print, social media, YouTube, online ad retargeting, and everything that you do in a normal market to promote a home but on steroids. Your realtor simply can't skimp on the marketing. And we see a lot of agents out there just taking a few photos with a cell phone, putting them on the MLS, and that's their total marketing program, you can't do that. It's a huge mistake. And frankly, it's a big disservice to you as a seller because until the marketing of the property gets going, you don't know how long it's going to take to find the right buyer or even if you're going to have multiple offers. So you need to be prepared for a normal marketing cycle, even if the markets hot right now.

3. Set Buyer's Expectations

So let's hit the stage with what Whistler buyer profiles look like right now. You got the buyers that have just come into the market starting to look and they're getting the sense that they have to be pretty quick to offer on listings when they come available. Then you've got other buyers that have been looking for a few months now but have still not found the right Whistler home. And then you've got panic buyers who have missed out on properties time after time, and they're ready to jump as soon as something remotely good comes on the market that fits their family's needs. Before multiple offers start rolling in. Remember to set some ground rules here. Make sure you when your realtor has set a date for when you plan to review all the offers. 

Then your realtor needs to communicate with all the buyer's agents letting them know when you plan to respond to these offers. You're setting a level playing field here, it's critical that this date is not too soon, but also not too far off. You want to have your listing marketed to its full extent without those shortcuts I mentioned. It needs to have adequate soak time have all the relevant paperwork available beforehand for all buyers to review such as strata meeting minutes, furnishings, inclusion list, title, search floor plans, virtual tour, video tour, full photo package, and even a possible building inspection you paid for beforehand. We want those buyers to feel like they're not going to miss out on any details. Be respectful of all those buyers out there that are bidding on your property because guess what? One of those buyers is going to unlock the equity in your Whistler home or condo and put a ton of cash in your pocket.

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