SELLING YOUR HOME

Why Use a Salesperson?
When you have decided to sell a home, the services of a qualified real estate professional are of utmost importance.

The ideal salesperson will have a good working knowledge of local real estate market conditions, be prepared to deliver a high standard of service to customers, and have the support of a large real estate company. Most importantly, a good salesperson will save you time and money. Here are the advantages of working with an salesperson when selling a house:

A salesperson knows real estate values in your neighborhood and will help set an agreeable and competitive price on your home.

A salesperson will establish a marketing strategy for your home ensuring that your property is exposed to scores of potential buyers.

A salesperson takes care of the many tasks involved in selling a house (from placing your listing to putting up the for sale sign). This ensures that the transaction is simple and low-stress for you.

A salesperson is an expert in the home selling process and as such will advise you of your rights, options and obligations.

A salesperson is an experienced negotiator and will work for you to get you the best price possible.

Determining the Value of Your Home
The market ultimately determines the true value of your property. Before you compare your home to similar properties and establish a competitive list price, the following points should be considered:

1. Location
2. Size
3. Style
4. Condition
5. Community Amenities
6. Buyer Supply
7. Financing Options

Getting to Know Your Market
A comparative market analysis is an indicator of what today's buyers are willing to pay for a home. It compares the market activity of homes similar to yours in your neighborhood. Those that have recently sold represent what buyers are willing to pay. The homes currently listed for sale represent the price sellers hope to obtain. And those listings that have expired were generally overpriced or poorly marketed. Your Royal LePage Real Estate Professional will prepare a comparative market analysis for your home based on the most current market information. Together you and your Real Estate Professional will establish the proper list price for your home.

Pricing Your Property
The single most important decision you will make with your Royal LePage Real Estate Professional is determining the right asking price for your property. Once you've achieved a realistic sales price, you can count on your property being professionally marketed and promoted to bring more buyers to your door. You can also expect to sell your home for the best possible price in the least amount of time.

The Benefits of Pricing Right
1. Your property sells faster, because it is exposed to more qualified buyers.
2. Your home doesn't lose its "marketability."
3. The closer to market value, the higher the offers.
4. A well-priced property can generate competing offers.
5. Real Estate Professionals will be enthusiastic about presenting your property to buyers.

Understanding the Factors that Influence Overpricing
1. Extensive renovations / hidden costs
2. Desire to purchase in a higher-priced area
3. Original cost of home was too high
4. Lack of real market information
5. Building in "bargaining room"
6. Perceived emotional value

The Result of Overpricing
Many sellers believe that if they price their home high initially, they can lower it later. Often, when a home is priced too high, it experiences little activity. Gradually the price will come down to market value, but by that time it's been for sale too long and some buyers will be wary and reject the property. On occasion, the price is dropped below the market value because the seller runs out of time. The property sells for less than it's worth.

You may think that interested buyers "can always make an offer," but if the home is overpriced, potential buyers looking in a lower price range will never see it. Those who can afford a home at your asking price will soon recognize that they can get a better value elsewhere. As soon as a home comes on the market, there is a flurry of activity surrounding it. This is a crucial time when Real Estate Professionals and potential buyers sit up and take notice. If the home is overpriced, it doesn't take long for interested parties to lose interest. By the time the price drops, a majority of buyers are lost.

Signing a Listing Agreement
The first formal step in marketing your property is to enter into a Listing Agreement - a contract that commits Royal LePage to actively market your home for a specified period of time. It also commits you to a pre-established marketing fee that is to be paid upon the successful closing of the sale. Your Royal LePage Real Estate Professional may require the following documents:

Plan of Survey or Location Certificate - A Survey of your property which outlines the lot size and location of buildings as well as details of encroachments from neighboring properties. This may be required in certain areas to complete the sale of your home. Your legal professional may recommend a survey, especially if significant changes have been made to your property.

Property Tax Receipts - Most Listing Agreements require that the current annual property tax assessments be shown.

Mortgage Verification - Few homeowners know the exact balance of their mortgage as it is paid down. You will be asked to authorize your mortgage lender to provide the figures required.

Deed or Title Search - This document is a legal description of your property and the proof that you own it.

Other Documentation - In some instances, it may help the sale of your property if you can provide prospective buyers with information on such items as annual heating, electrical, and water expenses, as well as any recent home improvement costs.

Note: In many provinces you will be required to sign a property condition disclosure statement.

Agree on a Marketing Plan
Your property is not something you sell everyday. In fact, for many people it is their largest asset. A house is very complex to market and the process needs to be well organized. To do the job properly a plan is needed. Your Royal LePage Real Estate Professional can prepare a personalized plan for you containing all activities intended to market your property. At Royal LePage, your property will be aggressively promoted through Royal LePage's own property advertising publications and Internet site, other Royal LePage offices and Real Estate Professionals, the MLS information library (unless it's an exclusive listing), and mailings to potential buyers in your area.

Preparing to Show Your Home
First impressions are lasting impressions. You will want to make sure the buyers looking at your home are left with the best possible impression. Your Royal LePage Real Estate Professional can help you achieve that goal.

Exterior

House in good repair
House number easy to read
Eaves troughs, down spouts and soffits in good repair
Garage/car port clean and tidy
Litter picked up
Cracked or broken window panes replaced
Lawns and hedges cut and trimmed, garden weeded and edged
Walks shovelled and salted
Boot tray inside front door
Doorbell and door hardware in good repair
Porch and foyer clean and tidy

Interior

Chipped plaster and paint touched-up and replaced
Doors and cupboards properly closed
Leaky taps and toilets repaired
Burned out light bulbs replaced
Squeaky doors oiled
Mirrors, fixtures, and taps cleaned and polished
Seals around tubs and basins in good repair
Floors cleaned, garbage containers empty
Inside of closets and cupboards neat and tidy
Appliances cleaned
Countertops neat and polished
All lights turned on
Air conditioner turned on in warm weather
Fresh air in house
Fireplace lit in cooler weather
Halls and stairs cleaned
Drapes opened during daylight
Carpets freshly vacuumed
Fresh flowers in various rooms
Jewelry and valuables locked safely away or taken with you
Valuable property, such as objects of art, vases and figurines out of reach, out of sight, or locked away
Pets absent, where possible, or contained during the showing, and litter boxes clean