Buying and selling your home is the largest transaction most of us will ever make. The selling process can be very complex and time consuming; even just knowing what price to list it at can seem overwhelming. Below are some tips to help you through the process.
Pricing your home
Today’s Buyers’ are comparison shoppers. Although eager to achieve the best possible return on their hard earned money, they will tend to shy away from properties that are listed too high or too low.
If you list above market value, you will more than likely sell your neighbour’s house instead of yours, or at the very least, risk a lack of potential purchasers visiting your home. By listing too low, you create the impression that you are desperate for the sale, or that something is seriously wrong with the structure.
As your Real Estate Agent, I will provide you with a Comparative Market Analysis (CMA) that includes information on competitor listings, properties that have recently sold, and those that are currently pending. In addition, I will:
- Evaluate your property’s location and lot size.
- Appraise your home’s condition, size and age, and any improvements you have made.
- Review the assessed value of your home, taxes, and utility costs.
- Help determine what is the best selling feature of your home.
- Suggest what overall repairs should be considered.
Selling a property in today’s fluctuating and competitive marketplace takes industry knowledge, a proven track record, and expert opinion. It also takes dedication, commitment and the ability to achieve the goals set before you. When discussing all the factors in the sale of any property, my experience and real estate wisdom will increase the possibility of selling your home.
Disclosing the facts
No home is perfect! In one way or another, they all have defects to some extent. If you conceal problem areas, it can result in very costly lawsuits….at your expense!
Undisclosed defects can come back to haunt you, destroying what you originally considered protected….your pocketbook and peace of mind!
Repairs and fix-ups
You consider your home one of your most prized possessions. You have decorated your home to your own individual taste, using paint and styles as expression of your personality. Your furniture reflects the colors and textures that have become important over the years.
And don’t forget, you did spend hour after hour bent over that magnificent garden. How could they NOT notice that you spent a great deal of money and time working to make your house a home. The paint, the blinds and the carpeting mean nothing to those outside the family.
The answer is simple… your potential purchasers are not emotionally involved in your investment.
Unlike you, they see the flaws you have come to ignore over the years. They will notice the carpet your cat has used as a scratching post, the tap that drips incessantly, and the ugly stain in the kitchen caused by the leaky roof.
To them, it’s nothing but added expense, and probably not worth the effort. After all, there are many, many more properties on the market other than just yours.
However, the marketability of your home will increase if you take the time and effort to view it through their eyes, and take extra care in ensuring that minor things are taken care of.
One sure way of guaranteeing that your potential purchasers can see themselves enjoying life in your home, is to make it as presentable and uncluttered as possible. What is known in the industry as “curb appeal” may become the difference between “Sold” and “continued showings”.
The tiny hand print that adorns the front door is cute only to you. To the buyer, not so much! Despite the cost of a can of paint, your family room should not resemble a mud-room. And remember the sun shining through the windows? A little bit of elbow grease goes a long way!
When the time comes to list your home for sale, take into account that your potential purchasers are searching for new roots. They need to be enticed, enthralled and enchanted at first glance. It needs to feel like their castle, their history, their love story the moment your home comes into view.
If expense is a concern, do it yourself. If there’s litter in the front yard or the grass needs cutting, hire the teenager next door. Five or ten dollars a time really can make the difference!
If not, there are numerous contractors, painters, decorators, cleaning services, and landscaping firms that your Real Estate Agent can recommend. For the more major repairs including replacement roof, flooring or structural defects, etc, you can opt to invest in the repair, or you can choose to disclose this information in the Listing Contract.
Also pay attention to the “finishing touches” – the background music, the tidy bathroom , the made beds, and the bouquet of flowers. Open a few windows, the air will be fresher. A welcome mat at the front door is inviting, and please, no laundry running in the machines while you attempt to catch a few more minutes of lost time!
By being ruthlessly honest in your evaluation of your home prior to listing, you will:
Position your home at the top of the “Too See” list
Guarantee that your own roots will be transplanted sooner rather than later
Protect your hard earned investment dollars.