8 STEPS TO BECOMING AN INFORMED SELLER
1. Choosing the Best Agent For the Job
A few good reasons why people choose to use a real estate agent, pricing is a real art, negotiating is hard, marketing is more than MLS, showings and paperwork are a pain. We will take away the burden of all of these things and work to get your home sold for the best price in the fastest time. After all – you’ve got a life to live!
2. Price Right to Profit More
Setting the price for your home is challenging. Too low, and you leave money on the table. Too high, and you scare away buyers to other properties. To complicate all this, your home is an emotional asset—it’s hard to see it objectively.
Pricing is something agents spend their careers refining and mastering. They combine intimate local and national market knowledge, an exhaustive study of similar homes for sale, and an analysis of past sales to come up with the optimal list price.
3. Prepare to Amaze
After price, the condition of your home is the single biggest factor determining how fast—and for how much—your home sells.
Clean – Inside and out. It matters. A lot.
De-clutter – Give it away, throw it away or store it away, but get it out of your house.
Make minor repairs – Chipped paint, cracked tiles, squeaky hinges, leaky faucets – fix everything you can.
Consider staging – According to the National Association of REALTORS®, staged homes sell 49% faster, and for 7-11% more money.
Clean again – Really. It’s that important.
4. Maximize Exposure to Buyers
Once you’ve found a price for your home and put it in showroom condition, there’s one more critical piece of the puzzle before buyers begin flocking in to see your masterpiece: their attention.
Getting the word out about your home matters for two critical reasons. First, buyers can’t be interested if they don’t know your home exists. But more importantly, the more buyers you have interested in your home, the higher the potential sale price, and the faster the sale.
5. Show it Off!
As interest in your home rises, so will interest in seeing the real thing. It’s time to show off your masterpiece to prospective buyers. As your realtor, we will take care of almost all of the details, but here are a few tips to maximize the showing experience.
You should leave – buyers want to be able to look around and discuss your home candidly. They won’t be comfortable if you’re there.
Is it inviting? – In addition to the usual tidying, make sure your home is inviting. Turn up/down the temperature. Leave the lights on. Open the blinds where appropriate. Leave inside doors open or slightly ajar.
6. Negotiate Like a Master
Now this is where things get exciting. You’ve got an offer or maybe two or three at once! In most cases, your home’s list price won’t be the selling price. When it comes to settling on that final magic number, you’re going be negotiating. This is something that our team excels at.
7. Calculating Your Net Proceeds
The cheque is in! How much do you get to keep? There are a number of closing costs to consider.
Legal Fees. Lawyer’s fees vary, but often have structured fees for the purchase and sale of homes posted on their websites. Sellers pay in the area of $1000.00 for a lawyer to look after the legal details necessary to close their home.
Mortgage Fees. Check with your mortgage lender to determine if any costs will occur when transferring or releasing your mortgage. There is sometimes what is referred to as a discharge fee to remove the mortgage from title that can range from $100 to $250.
Disbursements. These fees cover additional legal expenses such as travel, copies, couriers, registration fees and preparing document transfers. Disbursements can range upwards of $500 but can sometimes be built into your legal fees.
Adjustments. It’s difficult for a home seller to calculate exactly how much money is owed to which utilities on closing day. Your lawyer will ensure that any overpayments or deficiencies on rents, mortgage interest, property tax and utility charges will be corrected, and the buyer and seller will be credited or charged accordingly.
Moving Costs. Moving costs vary based on location and the amount of possessions being moved. If you’re moving yourself, you should factor gas, rental vehicles and moving supplies.
8. Book a Meeting
Feeling more informed? We hope so! There’s a lot to selling a home. If, after reading this, you feel like you want some help, we would be happy to speak with you. Our team will provide you with a complimentary market evaluation of your home and answer any other questions you have.
