Why Choose Wally When Selling?
When you have decided to buy or sell a home, the services of a qualified real estate professional are of outmost importance.
The sales agent 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 agent will save you time and money. Here are the advantages of working with me:
When selling a house:
- As your agent I know real estate values in your neighborhood and will help set an agreeable and competitive price on your home.
- I will establish a marketing strategy for your home ensuring that your property is exposed to scores of potential buyers.
- I will take 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.
- I’m an expert in the home selling process and as such will advise you of your rights, options and obligations. As an experienced negotiator and will work for to get you the best price possible price
- This “Guide to Selling Your Home” has been prepared to assist you in answering your questions about the selling process. It outlines the steps that will help you obtain the best results when you list your property for sale.
*The single most important decision you will make is determining the right asking price for your property. This can be achieved by a comparative market analysis for your home based on current market information.
*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 prepared 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.
*Together you and I will establish the proper list price for your home.One that in most cases is slightly above the average sale price yet below the average asking price of comparable Homes.
*Once we’ve achieved a realistic list 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.
Determining The Right Price For Your Home
Before you compare your home to similar properties and establish a competitive list price, the following points should be considered:
Location, Size, Style, Condition, Community Amenities, Buyer Supply, Financing Options.
Lets not forget that the market ultimately determines the true value of your property.
Your Benefits Of Right Pricing
- Your property sells faster, because it is exposed to more qualified buyers.
- Your home doesn’t lose its “marketability”.
- The closer to market value, the higher the offers.
- A well-priced property can generate competing offers.
- Real Estate Professionals will be enthusiastic about presenting your property to buyers.
Facts That Influence Overpricing
- Extensive renovations/hidden costs
- Desire to purchase in a higher priced area
- Original cost of the home was too high
- Building in “bargaining room”
- Lack of real market information
- Perceived emotional value
Results Of Over Pricing
- 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 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 better value elsewhere.
- As soon as a home comes on the market, there is a flurry of activity surrounding it. This is the 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.
Before You Show Your Home
Check this list below for best first impression.
- House exterior 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 shoveled and salted
- Boot tray inside front door
- Doorbell and door hardware in good repair
- Porch and foyer clean and tidy
- Chipped plaster and paint touched-up and repaired
- 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 emptied
- 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
- Pets absent, where possible, or contained during the showing, and litter boxes cleaned
Renovating Your Home
When it comes to home renovations, one plus one does not necessarily equal two. The money invested in improving your home will not always translate into an equivalent return in the selling price of your home. However, with planning it is possible to both increase the salability of your home and even profit from your home renovations.
To maximize salability ensure that your new décor is modern and tasteful. Choose shades of white and tame versions of popular colors. Steer away from too many personal touches and custom work if you plan to re-sell.
It is unlikely that your investment will be recouped and it may prevent the quick sale of your home. Also, try to keep renovations in harmony with the fashion of your neighborhood.
Renovations do not have to be extensive or expensive to earn a high rate of return. In fact, one of the cheapest and simplest improvements yields one of the highest paybacks. According to a study (1999 Renovations and Home Value Survey) by the Appraisal Institute of Canada (AIC), a fresh coat of paint on interior walls returns an average 73 percent payback. So, a $1,500 paintjob could be expected to increase a home’s selling price by $2,625 (a $1,125 profit).
According to another study (Prepare to Sell by HomeGain.com in California) smaller changes to a home can also reap hefty rewards. Any addition that brightens your home (such as new light fixtures) should be returned in the selling price by an average 84% of the cost of the renovation.
The kitchen and bathroom are key areas to focus your renovation attentions. With average paybacks of 72 and 68 percent respectively, new fixtures, cabinets and tiles could be well worth the money and/or time and effort.The (AIC) study highlighted the top ten renovations and the average rate of return:
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%