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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
- 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.
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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.
Preparing your home for an inspection
If
you're selling your home, be prepared for a visit from a home
inspector, who will be checking out the property on behalf of possible
purchasers. Take a look through your home using these steps, and repair
any problems to ensure that your inspection is a success.
1. Make sure the structure is sound.
Check to see if any renovations have damaged the structure. Look for
termite damage. Ensure that "settling" hasn't caused damage to the
foundation or support beams and joists.
2. Check if electrical and wiring systems are safe.
Loose wires or incorrectly installed or wired receptacles, switches or
electrical box problems are hazardous and should be fixed. All homes
should have a minimum of 100 amp service.
3. Look for leaks.
Water can leak into unexpected places, causing extensive damage over
time. Examine the underside of sinks and dishwashers, along ceilings,
on floors or along basement walls. Plumbing fixtures, water-using
appliances, drain pipes, water supply inlets and outlets, basements and
roofs can all be causes and sources of water damage.
4. Resolve safety issues.
Make sure windows open easily and lock securely, and entrances/exits
can be securely locked. Correct hazards such as hidden curbs, loose
railings and stairs, uncapped wells, etc.
5. Check plumbing.
Faucets should run easily and shut off completely, bathtubs should be
properly caulked and grouted, toilets should be bolted down securely,
drains should be clog free, and the water heater should be in good
working order.
6. Make sure your heating and cooling systems work.
Make sure they are up to date, clean, in good working condition and
have clean filters. Check refrigerant in air conditioning units.
7. Have a friend take a look. A general, unbiased overview of your home by a neighbour or friend may reveal issues you might have overlooked.
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