Home Selling & Buying Tips   

Tips for Selling a Home...

There are many important decisions to make when selling a home.  A Real Estate agent has the knowledge and experience to sell your home in a timely fashion and at a fair market price.  Here are some tips and things to consider when selling your home.

• Using a Real Estate Agent or going it alone?
• Finding a Real Estate Agent
• Pricing Your Home for Sale
• Disclosing the Facts
• Determining Repair Priorities
• Curb Appeal - Appearance is Everything
• Preparing Your Home
• Changing Homes - Time Becomes Money
• Qualifying a Buyer
• Real Estate Sales and Taxes
• Sell Legal Representation

Your home represents one of the most valuable assets you have, therefore getting a good price for your home is very important.

Tips for Buying a Home...

• Paying Too Much for Your Home
• Finding and Purchasing the Right Home
• Making House Hunting Fun
• Wrong Type of Neighborhood
• Too Much of a Fixer-Upper
• Buying Outside of Your Budget
• Over or Underestimating Your Housing Needs
• Overlooking Schools and Children
• Yard Maintenance
• Municipal By-Law Restrictions
• Looking for Structural Defects
• Closing Your Transaction
• Home Buyers Wish List

Using a Real Estate Agent or Going It Alone?

The main reason that home owners decide to sell their homes themselves is to save the commission charged by a real estate agent.  The commission rate may vary, depending on where you live or what agency you choose, but it is generally upwards of 5%. Weighing against that commission rate are the advantages that having an agent offers.

Advantages of using a real estate agent:

• Handling your own sale means you will be responsible for placing ads, answering phones and showing your home to strangers, a real estate agent has marketing systems in place for listing and selling homes.
• An agent will take the potential buyer through the home at scheduled times, an agent can sell the house, not just show the house.
• The agent is experienced in the local market and will help you determine a proper selling price.
• The agent will negotiate with the buyer for you.
• The agent can find qualified buyers.
• An agent can offer advice on preparing the house for a faster sale, and closer to the asking price.
• When your selling on your own, buyers who know you are saving on an agent's commission may offer less for your home, wiping out the financial incentive to do it all yourself.

Remember: a real estate agent probably knows a lot more about the business of selling a home than you do.

In the end the decision is yours. If you have lots of spare time, and some experience that will allow you to research the market, establish a competitive price and then show and sell your your home, you may feel going it alone is the answer. If your time is valuable, the commission a real estate agent takes will more than pay for itself.

Are You Ready to Move?

The Home-selling process typically starts several months before a property is made available for sale.  It's necessary to look at a home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired and tossed out.

Ask yourself:  If you were buying this home what would you want to see?  The goal is to show a home which looks good, maximizes space and attracts as many buyers - and as much demand - as possible.

While part of the "getting ready" phase relates to repairs, painting and other home improvements, this is also a good time to ask why you really want to sell.

Selling a home is an important matter and there should be a good reason to sell - perhaps a job change to a new community or the need for more space. Your reason for selling can impact the negotiating process so it's important to discuss your needs and wants in private with the REALTOR(R) who lists your home.

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Finding a Good Real Estate Agent

The size and nature of a real estate transaction requires an agent you can trust to act in your best interest.  Finding the right agent can be a chore in itself. Consider asking friends, neighbors and co-workers for recommendations. Before settling on an agent:

Talk to several agent before picking the one you want to work with.

Walk through your home with an agent to get a feel for how that person will handle prospective buyers.

Ask prospective agents how they plan to market your home.

Don't sign with an agent just because he or she suggest the highest asking price.

Negotiate the broker's commission prior to listing your home, and sign for a limited period of time - usually three to six months.

Remember: you're agent has a ficuciary obligation to act in your best interest. They are there to represent you in the real estate transaction, and the value of their skills and experience should not be underestimated.

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Pricing Your Home For Sale

Today's consumers are comparison shoppers. Although eager to achieve the best possible return on their hard earned investment dollars, they will shy away from properties that are listed too high or too low.

Listing above market value, you will more than likely sell your neighbor's house instead of yours or risk a lack of potential purchasers visiting your home. By listing too low, you create the impression that you are desperate for the sale, or that something is seriously wrong with the home.

Your Real Estate Agent will provide a Comparative Market Analysis (CMA) that includes information on competitor listings, properties that have recently sold, and those that ared currently pending. Factors affecting the price of a home:

• The location and lot size.
• The condition, size and age, and any improvements you have made to the home.
• Review the assessed value of your home, taxes and utility costs.
• Repairs required.
• Economic conditions.
• Supply and demand.
• Seasonal influences.
• Local schools.
• Average home prices in the neighborhood.
• Amenities - pool, fireplace, hardwood floors, etc.

Buying or selling property in today's fluctuating and competitive marketplace takes industry knowledge, a proven track record, and expert opinion.