Selling

Mistake #1: Choosing an Asking Price Based on Your Needs or Emotions Instead of Market Value.

If your home is not priced competitively, buyers will overlook it in favor of a comparable home for a lower price. Sellers often believe that setting a higher price for their home leaves room for negotiating. In reality, they often never get the opportunity to negotiate. Buyers rarely offer on overpriced homes. It’s better to get ten offers and turn them all down then to never get an offer at all.

Mistake #2: Not “Showcasing” Your Property.

To achieve top dollar for your home, it’s important that it look its best. The property must be neat and orderly, clean and bright. Necessary repairs must be completed prior to listing the home for sale. Buyers are poor judges of home repair costs, even if they feel that the minor repairs will not cost them too much money, they may view the small areas of disrepair as signs of future problems.

Mistake #3: Over-Improving the Property May Be Just as Costly as Not Improving It Enough.

Certain improvements are prudent and will increase the value of your property. However, there are also many costly improvements that cannot be recouped. Try to keep in mind that any repairs and improvements should increase the property’s value over and above their costs.

Mistake #4: Showing Buyers Around the Property Yourself Is Never a Good Idea.

The decision to buy a property is very personal and emotional and Buyers like to imagine themselves living in the home during a viewing. If the Seller is present during the showings, it could make the Buyer feel uncomfortable, as if they are intruding on the Seller’s space, thereby impeding the sales process.

Mistake #5: Viewing the First Offer as Only One of Many Can Be a Very Costly Mistake.

Each offer warrants serious consideration. It is important to take advantage of the momentum gained in the early stages of the marketing period and it’s a proven fact that the amount of money that buyers are willing to pay for a home is inversely proportionate to the length of time that a property is on the market.

Mistake #6: Not Knowing What Your Rights and Obligations Are.

It is important to have a thorough understanding of the agreements and contracts that you sign. Any agreement that you commit to by signing is legally binding and therefore must be read very carefully. Ask your sale representative for copies of any contracts in advance of an offer presentation so that you are able to make informed decisions when necessary.

Vendor’s Costs

• Legal fees: range from $600 to $2000. A real estate lawyer will provide you with details.
• Real estate commission + 13% HST.
• Discharge of Mortgage: may be a penalty of 3 months’ interest, the interest differential between an old and new mortgage, or a combination of the above. Check with your lending institution.
• Home Staging (if required).
• The Move: may vary depending on your choice of movers; i.e. professional movers or packing yourself.

Purchaser’s Costs

• Legal Fees: range from ½% to 1% of the sale price of the property plus disbursements. A real estate lawyer will provide you with the details.
• Survey: if no recent survey is available, a new one will cost approximately $700-$1,000. Fees for larger and recreational properties vary: individual quotes are required.
• Adjustments: money owed, prepayment of taxes, hydro gas, etc.
• Home Inspection: will cost approximately $250 to $500.
• Arranging the Mortgage: usually an appraisal fee of about $200 plus and administration fee of $200-$300. An up-to-date survey may also be necessary.
• The Move: may vary depending on your choice of movers; i.e. professional movers or packing yourself.

Curb Appeal:

• Lawn & Garden: Eliminate dead foliage, mow grass, weed
• Extra vehicles: remove from curb view.
• Clean windows and sills- repaint if needed.
• Keep walks and driveways clear of snow and debris.
• Repair doors and windows, screens and hardware.
• Fix or paint siding and fencing as needed.
• Dynamize by adding large planter, wreath or new doormat at entrance.
• Add potted flowers to deck.
• Add new house number or brass door fixture. Paint front door.

Garage:

• Tidy and organize. Make sure door opener works.
• Sweep floors, clean grease spots, Remove clutter.

Bathrooms & Kitchen:

• Tidy counters, Appliances and fixtures cleaned/polished.
• Remove clutter from countertops and cupboards.
• Check light switches and fixtures.
• Clean away any mildew in shower or around tub.
• Clean and deodorize garbage areas.
• Repair faucets, toilets or any leaking or dripping taps.
• Fix grout and caulking as needed.
• Patch & paint wall and ceiling cracks.
• Add green or flowering plants.
• Add scented soaps or potpourri.
• Add matching towels.

Living/Dining Rooms, Bedrooms & Hallways:

• Keep hallways and foyers clear of obstacles.
• Remove clutter, and out of season clothing.
• Re-arrange furniture for openness.
• Clean and polish furniture.
• Tidy play areas, arrange children’s bedrooms to look fun and inviting.
• Repair ceiling and wall cracks.
• Clean fireplace. Arrange for fire to be lit during showings.
• Arrange fresh flowers on focal points.
• Put linens on table, perhaps place a setting on dining room table.
• Carpets freshly vacuumed.

Things to Remember:

• Keep your home warm and cozy, if in winter, or cool and fresh, if in summer, so it feels inviting!
• Open drapes and blinds – keep rooms and hallways bright and cheerful.
• Clean your closets – show off how spacious they really are.
• Cigarette smoke is offensive to many. Keep ashtrays washed, and try to smoke outside.
• Use exterior lights at night. Your home will look more inviting.
• All lights turned on to make a friendly atmosphere.
• Stage living areas to emphasize selling points.

Internet

• Listings, updated daily, of properties for sale nationwide
• Colour photographs with slideshow capabilities of homes
• Property searches by on-line maps, city names, and postal codes
• All listings linked by e-mail to our branches or the listing agent

Classified Advertising

• Will be successful in selling the specific advertised homes at times
• Purpose – to create a large pool of potential buyers
• Our organized group advertising is very effective in attracting many buyers to our doors.

“For Sale” Sign

• Placed on your property within 24 hours of the MLS listing of the property.
• 30% of buyers come for the sign.

Agent Open Houses

• Arranged for real estate agents as soon as the home is listed so they can preview it for their clients and customers

Public Open Houses

• Held on weekends and weekdays as appropriate, with your approval.