Selling Your Home

Your house is likely your biggest investment. Getting the best return is a matter of being informed and partnering with the right Sales Associate to achieve your objectives. The following information is offered to help your through the selling process. Contact Bob for more detailed information.

You've Decided to Sell our Home!

Selling a home can sometimes be a confusing and complicated process. Two key decisions will be selecting the right Sales Associate, and deciding on a price. You should also consider the cost of selling a home, the value a strong relationship with an experienced Sales Associate brings and the marketing of your home.

To receive the best possible price, a home has to be exposed to as many buyers as possible. Marketing is more than simply putting the home on the multiple listing service. It's identifying who a potential buyer may be, what features and accompanying benefits will attract that buyer and how to reach that potential buyer. The key is to create a detailed plan for selling your home.

You Need a Marketing Plan

Your property is not something you sell everyday. In fact, for many people it is their largest asset. A house is very complex to market and the process needs to be well organized. To do the job properly a plan is needed.

With The Angus Real Estate Team, your property will be aggressively promoted through Royal LePage's own property advertising publications, Internet sites, other Royal LePage offices and Real Estate Professionals, the MLS information library (unless it's an exclusive listing), and mailings to potential buyers in your area.

Equipped with the training, skills and the tools to provide excellence in service, Royal LePage Sales Associates commit the marketing plan to paper, providing you with:

• Constant feedback
• Updates on market trends
• Detailed information on the actions we've taken

Selling a home should leave nothing to chance and The Angus Team has the experience and knowledge to prepare a personalized plan for you containing all activities intended to market your property.

The Benefits of Using a Sales Associate

To sell a home you need more than an ad in the paper and a "FOR SALE" sign on the lot. First, it takes experience and training to correctly price a home. It requires a carefully prepared market analysis showing not only homes that have sold, but also homes that are still on the market (your competition); as well as homes that were on the market and never sold. Armed with this knowledge and the experience to apply it to your situation, your Sales Associate is able to price your home and attract potential buyers through their network and by mass advertising. The value of this service pays for itself every step of the way.

Understanding Market Conditions

The real estate market is always changing. It helps to understand how market conditions can affect your position as a buyer.

At The Angus Real Estate Team we can provide you with current real estate market conditions and explain their impact.

Determining the value of your home

The market ultimately determines the true value of your property. Before you compare your home to similar properties and establish a competitive list price, the following points should be considered:

1. Location
2. Size
3. Style
4. Condition
5. Community Amenities
6. Buyer Supply
7. Financing Options

Getting to Know Your Market

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 willing 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.

We will prepare a comparative market analysis for your home based on the most current market information. Together you will establish the proper list price for your home.

Factors that influence overpricing

1. Extensive renovations / hidden costs
2. Desire to purchase in a higher-priced area
3. Original cost of home was too high
4. Lack of real market information
5. Building in "bargaining room"
6. Perceived emotional value

The Result of Overpricing

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 the market value because the seller runs out of time. The property sells for less than it's worth.

Missing the Right Buyer

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 a better value elsewhere.

The Importance of Early Activity

As soon as a home comes on the market, there is a flurry of activity surrounding it. This is a 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.

Pricing your property

The single most important decision you will make with your Sales Associate is determining the right asking price for your property.

Once you've achieved a realistic sales 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.

The Benefits of Pricing Right

• 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.

Anticipating and Solving Challenges

The relationship you establish with your Sales Associate is never more valuable then when things get confusing. In the event you experience challenges along the way, The Angus Real Estate Team is there to guide you through. One of the most frequent challenges is when a buyer has to sell their own home in order to buy yours. Sometimes it's hard to maintain control over the situation, but we will provide you with the information and support you need to prepare for this any other selling challenges that may arise.

Signing a listing agreement

The first formal step in marketing your property is to enter into a Listing Agreement - a contract that commits Royal LePage to actively market your home for a specified period of time. It also commits you to a pre-established marketing fee that is to be paid upon the successful closing of the sale. Your Royal LePage Sales Associate may require the following documents:

Preparing to show your home

First impressions are lasting impressions. You will want to make sure the buyers looking at your home are left with the best possible impression. We can help you achieve that goal.

Here are some suggestions that will help you impress buyers and get top market value:

After your home is sold

Many homeowners want to know what happens after their home is SOLD. What they can take with them and what they should leave behind. This is a partial list. If you're not sure, ask your Sales Associate. HINT: leave your home the way you want your new home to appear.

Within your Accepted Offer/Counter Offer or Amendment, certain items are included in the Sale price of your home.

Appliances - washer, dryer, refrigerator, stove, freezer, central vacuum and accessories, wood stove/fireplace & accessories (if written into offer) built-in dishwasher, built-in oven, garburator, air exchanger.

All fixtures - lighting, ceiling fans, switches, cupboard organizers and shelving, mirrors and medicine cabinets, built-in cabinets and shelving, curtains/blinds, curtain rods, garage door openers, itemize and label all keys for the new owner.

Pictures and nick knacks - while you'll obviously take all your pictures and knickknacks, fill in all nail holes, sand and paint over with a small brush or alternatively, leave hooks in for next owner.

Cleaning - Vacuum/clean carpets, wash floors, kitchen cupboards, behind refrigerator and stove. Put all garbage outside.

You may also want to leave behind any extra paint for touchups. Clearly mark the color name or number and the room it was used in.

Preparing for home inspection

One step which is inevitable in the home selling process is a visit from a professional house inspector. The following are steps which should be taken to ensure your inspection is a success. It is a good idea to be aware ahead of time of any serious problems which may be present in your home so you will be prepared to deal with them.

1. Ensure that past home renovations have not damaged the structure the home. Other structural damages to look for are whether termites have caused extensive damage, if settling of the home over time has caused damage to the foundation, and/or whether support beams and joists are strong and sturdy or cracked or otherwise damaged.
   
2. Ensure that the electrical and wiring systems are safe and acceptable. Loose wires or incorrectly installed or wired receptacles, switches or electrical box problems are all hazardous and should be corrected. All homes should have a minimum of 100 amp service.
   
3. Ensure there are no leaks evident. Water can run and leak into odd and unexpected places, causing extensive damage over time. If there are signs of water leakage, they can quite be often spotted by examining 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 and basements and roofs can all be causes and sources of water damage.
   
4. Ensure that safety issues are resolved in your home. Trim foliage which may impair a safe view of the area around the home, ensure that windows open easily and close and lock securely and that entrances/exits to the home are able to be securely locked. Hazards such as hidden curbs, loose railings and/or stairs, unused wells which are not capped, etc., should be corrected.
   
5. With respect to plumbing, ensure that all fixtures are in good working and free from large cracks. Faucets should run easily and shut off completely, proper grouting and caulking should be present around bathtubs, toilets and other fixtures should be bolted down securely and drains should be clog free. The home's water heater should be in good working condition also.
   
6. All heating and cooling systems may have to be checked to ensure they are relatively up to date, clean, in good working condition and have clean filters. Refrigerant should be checked in any air conditioning units and may require proper servicing.
   
7. Also, a general, unbiased overview of your home by a neighbor or friend may reveal matters which need to be dealt with that you may overlooked.

Renovating for resale

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.

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 paint job could be expected to increase a home's selling price by $2,625 (a $1,125 profit).

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.

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's 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%

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.

Not so good investments:

• Swimming pools and home offices take the prize for the worst renovations to consider in terms of increasing resale value. The return for each is approximately 20% at resale. Pools actually reduce the number of buyers interested in your property-especially among families with young children-as they are considered safety hazards and maintenance burdens.
  
• As an expert on home sales trends in your neighborhood, Bob can suggest which areas of your home could benefit from renovation and increase its value and salability. In fact, we will provide you with a complete list of improvements necessary to increase your home salability and market value.

The Major Elements of an Offer

Our Commitment to You

The Royal LePage Personal Service Commitment Guarantee includes a complete list of services designed to sell your home in the shortest amount of time. And, it includes a unique 100% Satisfaction Guarantee which effectively means that if you are not completely satisfied, you may terminate the balance of the listing at any time by giving written notice to the Branch Manager—this isn't something you'll find elsewhere. Ask us about the complete details.