SELLING A HOME CAN BE COMPLICATED. THERE’S LOTS TO DO, FROM PREPARING THE PROPERTY FOR SALE, TO MARKETING THE LISTING, TO THE NEGOTIATIONS AND PAPERWORK.
IF YOU’RE READY TO EMBARK ON THE HOME SELLING PROCESS, OR JUST GET A HEAD START ON PLANNING, TAKE YOUR FIRST STEP WITH THE RE/MAX PROFESSIONALS NORTH HOME SELLING GUIDE.
THIS IS A RESOURCE TO HELP YOU NAVIGATE THROUGH THE HOME SELLING EXPERIENCE, FROM “LISTED” TO “SOLD.”
This Home Selling Guide features relevant information including tips on finding the right REALTOR®, selling strategies for move-up buyers, DO’s and DON’Ts when listing and showing your home, and important terms you should know.
By familiarizing yourself with these home-selling basics, you’ll be better equipped to make a smart – and hopefully lucrative – home sale.
STUDIES SHOW THAT HOME SELLERS WHO USE A LICENSED REALTOR TO REPRESENT THEM GENERALLY GET A BETTER PRICE THAN THOSE WHO SELL THE HOME THEMSELVES.
RE/MAX Professionals North Realtors have access to current market information and resources to help price and market your home.
Equally as important, Realtors add objectivity to an inherently emotional transaction: the sale of your home.
As you move through the process, your Realtor can walk you through confusing paperwork and help you make informed decisions about the sale of your home.
The real estate market is a big place and an experienced Realtor can help you navigate it.
ASK YOUR TOP CANDIDATES THESE QUESTIONS:
MOVE-UP BUYERS ARE OFTEN IN A BETTER POSITION THAN THEIR FIRST-TIME COUNTERPARTS. THEY TYPICALLY HAVE SOME SAVINGS AND HOME EQUITY TO WORK WITH, MAKING THE MOVE FEEL LESS LIKE A COMPROMISE AND MORE A THOUGHTFUL SELECTION.
BUT MOVE-UP BUYERS FACE THEIR OWN SET OF CHALLENGES THAT CALL FOR A CAREFULLY CONSIDERED STRATEGY. HERE ARE THREE OPTIONS FOR THE SMART MOVE-UP BUYER WITH A PLAN!
The “Sell First” strategy is ideal for the move-up Buyer who doesn’t want to get stuck paying two mortgages simultaneously. Selling the existing home first eliminates the risk of having to carry two mortgages. It also reduces the chances of having to lower your asking price if the sale isn’t happening quite fast enough for your liking. This is a good option for move-up Buyers who are banking on the proceeds of their sale to fund their new (and likely more expensive) property. By selling first, you’ll know exactly how much money you have to purchase your next home.
All things considered, this approach to “moving up” is ideal, but getting there is another story. Aligning your purchase and sale closing dates can be tricky. Remember that there are three parties to these transactions: you, the person you’re buying from, and the person you’re selling to. You’ll also have to move out and move in on the same day. In this scenario, time is your best friend and flexibility your savior. This means you’ve planned ahead – you’ve researched neighbourhoods, gotten pre-approved for a mortgage, and you’ve started the organizing and decluttering process before the
big move.
If you’re buying in a Seller’s market, then buying first might be the way to go. By buying your new home before selling your old one, you won’t feel rushed into settling for a sub-par property, or having to seek alternative temporary housing options while you shop a tough market. This move-up Buyer still lives in his or her existing home, allowing them time to shop around, and continue looking until they find that perfect place. This move-up Buyer typically requires a bridge mortgage.
Your move-up strategy will depend on a number of factors, such as your financial situation, the current housing market conditions, personal comfort level and even your personality. Consider this when making your decision. Plan ahead and work with a knowledgeable Realtor to ensure a smooth transaction at both sides of the offer table.
Location is the single most important factor in determining the value of your home.
Pricing your home properly from the very beginning is an important factor in determining the length of time it will take to sell your home.
Property values are affected by the current real estate market. As the real estate market cannot be manipulated, a flexible marketing plan should be developed which analyzes the current marketing conditions and individual features of the property.
The condition of the property affects the price and speed of the sale. As prospective Buyers often make purchases based on emotion, first impressions are important. Optimizing the physical appearance of your home will maximize the Buyer’s perception of value.
Prospective Buyers compare your property against competing properties. Buyers will perceive value based upon the properties that have sold or are available in the area.
If a Buyer views your property, they might not make an offer if negotiations won’t bring them within an acceptable price range.
As the home doesn’t sell due to its overpriced status, Buyers will be convinced there are other defects or reasons the home hasn’t sold. Statistically, the longer a home is on the market, the greater the likelihood that low ball offers will be received.
When a new home enters the market, a number of Buyers will be notified. Homes priced beyond their range, or the expected range of the neighbourhood, may miss the initial flurry and those potential Buyers.
DETERMINING THE CORRECT PRICE USING RESEARCH AND ANALYSIS
ONCE I USE THIS FORMULA TO SUGGEST THE PRICE OF YOUR HOME, I CONTINUE TO MONITOR THE MARKET.
My goal is ultimately to achieve the highest selling price possible for your home in the most reasonable amount of time.
