FOR THE SELLERS
Seller's Due Diligence
Seller's Due Diligence
You, the Homeowner, have an important role in the timely sale of your property. When you take the following steps, you will assist us to sell your home faster, and, at the best possible price.
Make the Most of the First Impression
A well manicured lawn, neatly trimmed shrubs and clutter-free porch welcome prospective buyers. Do does a freshly painted or, at least, freshly scrubbed front door. If it's autumn, rake the leaves. In winter, shovel the snow. Ensure there are no obstacles that may detract from the true appeal of your home.
Invest a few Hours for Future Dividends
Here is your chance to clean up in real estate. Clean up in the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh discreet wallpaper adds charm and value to your property. Prospects would rather see how great your home really looks than hear how great is could look, "with a little work".
Check Faucets and Bulbs
Dripping water rattles the nerves, discolours sinks and suggests faulty or worn out plumbing. Burned out bulbs leave prospects in the dark. Don't let little problems detract from what is right with your home.
Open up in the Daytime
Let the sun shine in! Pull back your curtains and drapes or raise your blinds so prospects can see how bright and cheery your home is.
Lighten up at Night
Turn on the excitement by turning on all your lights - both inside and out - when showing your home in the evening. Lights add colour and warmth, and make prospects feel welcome.
Avoid Crowd Scenes
Potential buyers often feel like intruders when they enter a home filled will people. Rather than giving your house the attention it deserves, they are likely to hurry through. Keep the company present to a minimum.
Watch your Pets
Dogs and cats are great companions, but not when you are showing your home. Pets have a talent for getting underfoot. So do everybody a favour; keep Kitty and Spot outside, or at least out of the way.
Think Volume
Rock and roll will never die, but it might kill a real estate transaction. When its time to show your home, its time to turn down the stereo or television.
Relax
Be friendly but don't try to force conversation. Prospects want to view your home with a minimum of distraction.
Don't Shut Out a Sale
If cabinets or closet doors stick in your home you can be sure they will stick in a prospect's mind. Plane those sticky problems away. A little effort on your part can smooth the way toward a closing.
Think Safety
Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.
Make Room for Space
Remember, potential buyers are looking for more than just comfortable living space. They are looking for storage space too. Make sure your attic, basement and/or crawl space are clean and free of unnecessary items.
Consider your Closets
The better organized a closet, the larger it appears. Now is the time to box up those unwanted clothes and shoes and donate them to charity.
Make your Bathrooms Sparkle
Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats and shower curtains.
Create Dream Bedrooms
Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colourful bedspreads, fresh and clean window coverings are a must.
Don't Apologize
No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home's appearance, let us handle the situation.
Keep a Low Profile
Nobody knows your home as well as you do. But we know buyers - what they need and what they want. We will have an easier time articulating the virtues of your home if you stay in the background.
Don't turn your Home into a Second Hand Store
When prospects come to view your home don't distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.
Defer to Experience
When prospects want to talk price, terms or other real estate matters let them speak to the experts - us.
Help your Agent
We will have an easier time selling your home if showings are scheduled through us. You will appreciate the results.
Seller Questionaire
As a prospective Seller, you will probably have many questions to ask. We have listed some Frequently Asked Questions below. Look them over and decide how important these issues are for you. When you share this information with us, it enables our team to provide you with the best service.
Sellers' Concerns
On a scale from 1 to 5 (low to high), rate the following:
1 2 3 4 5 How much can I sell my home for
1 2 3 4 5 Should I have my home appraised
1 2 3 4 5 How long will it take to sell my home
1 2 3 4 5 What will it cost to sell my home
1 2 3 4 5 What do I have to do to make my home more marketable
1 2 3 4 5 What is the time frame of the Listing Contract
1 2 3 4 5 How do you market my property
1 2 3 4 5 Will there be a lockbox on my home
1 2 3 4 5 When will you be showing my home to Buyers
1 2 3 4 5 Will you hold open houses
1 2 3 4 5 How will I know if the Buyer is offering a fair price
1 2 3 4 5 How do I know if the Buyer is financially qualified
1 2 3 4 5 Do you work with a Mortgage Lender to help the Buyer qualify
1 2 3 4 5 What does a Home Inspector look for
1 2 3 4 5 How can I coordinate my move with the purchase of my next home
Fair Price
Sellers often wonder why Buyers don't make offers. Some sellers find it hard to believe that their listing price is too high for current market conditions. Buyers can still make a lower offer, can't they? Yes, they can, but in most cases serious Buyers do not make offers on homes that are priced too high for the following reasons.
When the market is glutted with inventory and there are many homes to choose from, why would a Buyer waste time making an offer on a property that is listed above the competition?
In low inventory markets, Buyers often shy away from making a low offer on a listing because they don't want to offend the Seller. This is particularly true if the Buyers have a serious interest in the property. They often prefer to wait for a price reduction before making an offer.
Sellers often think that if a Buyer really likes their home, they will pay more for it. This is true to a point however; few buyers are willing to pay more than fair market price. A home is rarely worth more than what the market will bear and is not necessarily worth what the Seller wants.
Buyers usually know market value better than Sellers do. Sellers may look at a few houses before listing theirs for sale. Buyers frequently look at as many as fifty or more homes before they decide to make an offer on one. So, it is difficult, if not impossible, to convince today's cost-conscious, savvy Buyers to pay more than market value for a home.
Sellers who put an unrealistic price on their home send a message to Real Estate Agents and prospective Buyers: here is a Seller who may be difficult to work with.
Sellers who discover they are priced too high should reduce their price as soon as possible. A home is most marketable when it is new on the market. If it doesn't sell within the first month or so because the price is too high, Real Estate Agents and their Buyers lose interest.
Sellers may be reluctant to drop their asking price when the property is new to the market. Keeping a home on the market at an improbable price would result in a lower selling price when it ultimately does sell. If the price is reduced when the listing is relatively new, there is a better chance of maintaining the marketing momentum.
What is Compartive Market Analysis
A Comparative Market Analysis (CMA) provides valuable statistical information.
Current Listings
Details current competition. Reveals supply and demand trends and assists the seller to strategize pricing to optimize showings. Enables calculation of probable days on the market and helps to anticipate possible price reductions.
Pending Sales
Lists recently "sold" properties (where an offer has been accepted but not completed). Reveals the market trend.
Sales
Details successful activity and provides an excellent pricing guideline.
Expired / Withdrawn Listings
Usually indicative of unsuccessful pricing or marketing exposure.
Summary Statistics
Reveals average days on the market by combining Sales and Pending Sales. Enables calculation of average price for a specific area and a List to Sales ratio..