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Sellers Information
Why use
an agent?
Selling a home takes more than just putting a "for sale" sign out front.
You need an agent with experience and training to help you determine the
right price, come up with an effective marketing strategy, and
anticipate and solve any problems that come up during the selling
process. A real estate professional can help you with every part of
selling your home, and offer you a smoother, hassle-free experience.
When you're selling your home, there are a number of advantages to
working with an agent:
-
He/she knows real estate values in your neighbourhood and will help
price your home competitively by preparing a market analysis of
homes that have sold, competing homes that are still on the market
and homes that were on the market but didn't sell.
-
He/she will establish a marketing strategy for your home, ensuring
that it's exposed to as many potential buyers as possible.
-
He/she takes care of the tasks involved in selling a house, ensuring
that the transaction is simple and low-stress for you.
-
He/she is an expert in the home selling process and will advise you
of your rights, options and obligations.
-
He/she is an experienced negotiator and will work for you to get you
the best possible price.
Effective
marketing for your home
An agent can help you market your home by exposing it to as many
potential buyers as possible. The first step is putting it on the MLS.
But listing your property is only the beginning; your agent will prepare
a personalized plan that includes everything he/she plans to do to sell
your property. At Royal LePage, your property will be aggressively
promoted through:
- A
posting on the Multiple Listing Service (MLS)
-
Royal LePage property advertising publications
- The
Royal LePage web site
-
Other Royal LePage offices and real estate professionals
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Mailings to potential buyers in your area
Pricing your property right
If you price your property too low, it may sell quickly, but you'll lose
out on money. If you price it too high, it may not sell at all. Your
agent can help you figure out the best asking price for your home.
The benefits of the right price
A well-priced property may generate competing offers, which will drive
up the final price. Other real estate professionals will be enthusiastic
about presenting your property to their buyers. Your home will sell
faster because it is exposed to more qualified buyers.
Listen to the market
As part of your pricing strategy, your agent will put together a
comparative market analysis, which is a good indicator of what today's
buyers are willing to pay. It compares the market activity of homes
similar to yours in your neighbourhood:
-
Homes that have recently sold represent what buyers are willing to
pay.
-
Homes currently listed for sale represent the price sellers hope to
obtain.
-
Listings that have expired are generally overpriced or have been
poorly marketed.
Don't
overprice your home
Some sellers believe that if they price their home high initially, they
can lower it later. Instead of making you more money, this strategy
could end up hurting you.
-
Early activity is key. As soon
as a home comes on the market, agents and potential buyers sit up
and take notice. If it's overpriced, interested parties will quickly
lose interest. By the time the price drops, the majority of buyers
are lost. When a home has been for sale too long, buyers will be
wary and may reject the property.
-
You'll miss the right buyer.
You may think that interested buyers can always make an offer, but
if your home is overpriced, potential buyers looking in a lower
price range will never see it. And those who can afford a home at
your asking price will soon recognize that they can get a better
value elsewhere.
-
You could run out of time. You
may end up having to drop your price below market value if your home
doesn't sell initially. Price it right the first time, and you won't
end up having to sell it for less than it's worth.
The elements of
an offer:
Here's a quick reference to everything you need to know about accepting
on offer on your home.
1. Price
Depends on the market and the buyers, but generally, the price offered
is different from the asking price.
2. Deposit
Shows the buyer's good faith and will be applied against the purchase
price of the home when the sale closes.
3. TermsIncludes the total price the buyer is offering as well as
the financing details. The buyer may be arranging his/her own financing
or may ask to assume your existing mortgage if you have an attractive
rate.
4. Conditions
These might include "subject to home inspection," "subject to the buyer
obtaining financing," or "subject to the sale of the purchaser's
property."
5. Inclusions and exclusions
These may include appliances and certain fixtures or decorative items,
such as window coverings or light fixtures.
6. Closing or possession date
Generally, the day the title of the property is transferred to the buyer
and funds are received by the seller, unless otherwise specified (except
in Manitoba and Quebec).
Renovating for resale
Renovations don't have to be expensive or extensive to offer you a good
rate of return. In fact, a quick coat of paint can go a long way to
boosting your selling price. Just make sure your new décor is tasteful,
with shades of white and tame versions of popular colours.
The kitchen and bathroom are your best bets for renovation with the
highest payback. Take a look at these average rates of return for home
upgrades:
-
Interior painting and décor - 73%
-
Kitchen renovation - 72%
-
Bathroom renovation - 68%
-
Exterior paint - 65%
-
Flooring upgrades - 62%
-
Window/door replacement - 57%
- Main
floor family room addition - 51%
-
Fireplace addition - 50%
-
Basement renovation - 49%
-
Furnace/heating system replacement - 48%
- New
lighting - 84%
As an expert on home sales trends in your
neighbourhood, your Royal LePage Sales Professional can suggest which
areas of your home could benefit from renovation and increase its value. |
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