1.  Failure to effectively market the property. Good marketing distinguishes your home from hundreds of others on the market, selling its benefits not just its features. Open houses and print advertising (the most obvious) are only moderately effective. Only 1% of homes are sold at open houses, and just 3% of people purchased their homes after seeing a print ad! Your Realtor© should be using other methods as well to attract prospects. Ask your sales professional to provide a list of things they will do to market your home.

2.  Basing your asking price on needs or emotion not market value. Many sellers base their pricing on what is termed as Subjective Value. To an appraiser, subjective value is based on emotions. For example, how much a seller paid for their home, how much they love their home, and overall pride of ownership is considered subjective value. Objective Value, is what ALL appraisers base the true value of a property.

Setting the asking price of a property should always be based on Market Value. Appraisers call this objective value. Objective value looks at the condition of the property; it’s location, what properties with similar features in the same area are selling for, what other properties in the same area are listed for, and the overall condition of the economy and real estate market.

If your home is not priced competitively, homebuyers will prefer larger or better homes in the same price range, increasing your time-to-sell. When your price is later lowered, buyers may be wary because they suspect other reasons the house has remained unsold so long.

3.  Failing to "present" the home. A property that is not clean or well maintained often suggests hidden defects that increase the total cost of ownership. Sellers should make necessary repairs, and spruce up the house inside and out, keep it clean and neat, or risk chasing away buyers brought in by realtors. Buyers will leave themselves a large margin for error for the cost of repairs, reducing their offer price.

4.  Over-improving your home before you sell it. Most buyers will base their decision on purchasing a home based on how they feel about the kitchen and bathrooms. If these areas of the home meet both their emotional and physical needs it makes it easier to sell a home. It is a good idea to get a real estate professional to do a market assessment of what your home is worth BEFORE improvements. The next step would be to get a written estimate for improvement costs; then have your real estate professional give you an update on the market value to determine how much more money your home will sell for AFTER improvements are made. This will let you know whether it makes sense to upgrade your home first, then put it on the market, or to just put it on the market for sale the way it is.

Sellers may spend thousands of dollars doing the wrong upgrades to their home prior selling, expecting to recoup this cost. If you are thinking of selling, ask your realtor which upgrades are cost effective. Typically the most important and saleable areas of any home are the kitchen and bathrooms.

5.  Choosing the wrong Realtor© or choosing for the wrong reasons. Many homeowners list with the agent who tells them the highest price, or a popular Real Estate company in the area. Remember it is NOT the sign that sells a home it is the real estate sales agent. Sellers should always choose the sales agent who provides the most experience and the one the seller thinks has the best negotiating skills. More experience could mean a higher price at the negotiating table, selling in less time, and with less hassles along the way.

6.  Failing to take the first offer seriously. Many sellers believe that the first offer received will be one of many to come, hoping to hold out for a higher price, especially if the offer comes in soon after the home is listed. Often the first offer ends up being the best buyer, and many sellers have had to accept far less money than the initial offer much later on in the selling process. The first 2 weeks of the listing term is critical. It is this time that the home will usually get MOST of its action. Do NOT let how quickly the offer came in determine your decision to accept it or not.

7.  Using the "Hard Sell" during showings. Buying a home is an emotional decision, and buyers are looking to see if a house is comfortable for them. Good Realtors© let the buyers discover the home's features on their own, pointing out only features they are sure are important to them. Overselling your home during showings make buyers think they are paying for features that are not important to them and can lose the sale.

8.  Not knowing your rights and obligations. The contract you sign to sell your property is a complex and a legally binding document. An improperly written contract can allow the purchaser to void the sale, or cost you thousands of unnecessary dollars. Have your Realtor© fully explain the contract or have your lawyer review it before acceptance .

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Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional. Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyer's recommend selling your own home yourself in today's market. Here are a few of the reasons why:

1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.

2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long... there must be something wrong with the home.

3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor... and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse--a very common occurrence.

4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home… selling means exposure. You need the maximum exposure possible, to generate the highest price possible.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.

6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.

7. The majority of qualified buyers are working with experienced real estate professionals.

8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.

9. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional.

10. Expected savings in broker's fees will also be greatly reduced if you offer a selling commission to entice real estate sales representatives to bring potential buyers.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees will be considerably higher.

12. Only real estate sales representatives have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales people. Further, real estate sales representatives are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.

13. You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with.

14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer's to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Real Estate professional can act as a great mediator. Lawyers MUST act only on their client's instructions and are not paid to negotiate.

     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 at the very least, 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 structure.

     Ryan will provide you with a Comparative Market Analysis (CMA) that includes information on competitor listings, properties that have recently sold, and those that are currently pending. Factors affecting the price of a home:

  The property's location and lot size.

  The home's condition, size and age, and any improvements you have made.

  Review the assessed value of your home, taxes, and utility costs.
  
  Repairs required.

  Economic conditions

  Supply and demand in the local housing market

  Seasonal influences

  Local schools

  Average home prices in the neighborhood

  Your home's extras -- pool, fireplace, central air, etc.

     Buying or selling property in today's fluctuating and competitive marketplace takes industry knowledge, a proven track record, and expert opinion. It also takes dedication, commitment and the ability to achieve the goals set before you. When discussing the critical factors in the sale of any property, our experience and professional expertise will help guarantee that your home is accurately positioned for market dominance.

     In the end, it's still your choice as to pricing. However, by taking into account years of professional experience and real estate wisdom, you increase the possibility of selling your home within the critical first 30 days for the highest possible sale price, or achieving a fair market price for the home you are purchasing.

  
  This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice.

     A real estate agent can be a helpful guide for setting up a home to be sold. Their experience allows them to prepare a home for an easier sale. If the potential buyer makes it past the outside, it’s the interior of the home that makes the sale. Remember, there are plenty of easy and inexpensive improvement that you can make to improve your home’s interior.

     A clean home is your number one priority.

     Your windows, floors and bathroom tiles should sparkle. Make sure you have clean heating and air conditioning filters. Shampoo dirty carpets, clean tubs and showers, repair dripping faucets and oil squeaky doors. Keep your home neat, clean and picked-up at all times. It may not seem fair, but a peek in the oven may be the hallmark by which a buyer judges how well you have kept up your home. Consider how your home smells. You may be used to the smell of a pet or cigarettes, but such odors can be a strong turn-off to potential buyers. Insure that your storage areas are tidy, and remove materials that may be to others who may not share your same views, beliefs or sense of humor.

  Creating a vision

     The buyers need to be able to visualize themselves living in your space, too much clutter can be a distraction that makes it harder for them to achieve that vision. If you have too much furniture consider putting some in storage. Not enough furniture try renting some. If you need some ideas visit a show home to see the levels of furnishings and decoration that is not too distracting.

  Define living spaces

     Having a living room/office/dining room/ storage locker can be a negative to buyers, not having an obvious purpose for a room makes it look less useful. Rearrange furniture to create focus areas inside of a larger room, define the spaces through a good layout.

  Power of Paint

     Painting is an inexpensive and easy way to give a room a makeover. You can paint a room in less than a day. If a room needs a fresh coat of paint, use a neutral off-white. Provide a blank canvas for them to create their vision. Light colors make the rooms seem larger, and airier. A fresh coat of paint also looks cleaner.

  Security

     Be certain to remove valuables such as jewelry and other items from view. It might be wise to put these items in a safe deposit box before showing your home.

  Setting the Mood

     On the day of a showing give you house a homey feeling, put out some live flowers and fresh guest towels in the bathroom. Place scented potpourri around the house or, pop a batch of frozen cinnamon rolls into the oven for a welcoming aroma. Remember, cosmetic changes do not have to be expensive, and giving the impression that your home is well maintained will help you get the price you want.

  
   This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice.

     When potential buyers drive by your home what do they see? A good first impression is key bringing in potential buyers.  Take this list into consideration when looking at the outside of your home:

  Is the yard well maintained? Lawns mowed, hedges trimmed?

  Are garbage and debris stored out of sight?

  Are lawn mowers and hoses properly stored?

  Is the garage door closed?

  Does the house need painting- the window casings, shutters, siding or doors?

  Are there cracks in the foundation or walkways?

  Does the driveway need resurfacing?

  Are the gutters, chimney and walls in good condition?

     By taking care of the little and often inexpensive details you can sell your home faster and at the price you are looking for.

     This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice. It is always best to take your questions to a licensed real estate professional in your local area.

     You consider your home one of your most prized possessions. You have lavishly decorated to individual taste, using paint and wallpaper as expression of your personality. Eyes glued to yet another magazine, you finally found the perfect window treatment. Your furniture reflects the colors and textures that have become important over the years. And don't forget, you DID spend hour after weekend hour bent over that magnificent garden.
  
     However, it will cease to matter once you sign the "For Sale" agreement. The paint, the drapes and the carpeting mean nothing to those outside the family. And that lovely bathroom tile you imported from some exotic land isn't even mentioned. How could they NOT notice that you spent a great deal of money and months waiting patiently for it to arrive at the shipyards?

     The answer is simple... your potential purchasers are not emotionally involved in your investment. Unlike you, they see the flaws you have come to ignore over the years. They will notice the carpet your cat has used as a scratching post, the tap that drips incessantly, and the ugly stain in the kitchen caused by the leaky roof. To them, it's nothing but added expense, and probably not worth the effort. After all, there are many, many more properties on the market other than just yours.

     However, the marketability of your home WILL increase if you take the time and effort to view it through their eyes, and take extra care in ensuring that minor things are attended to.

     One sure way of guaranteeing that your potential purchasers can see themselves enjoying life in your home, is to make it as presentable and uncluttered as possible. What is known in the industry as "curb appeal" may become the difference between "Sold" and "continued showings". The tiny handprint that adorns the front door is cute only to you. To the other side, it's a combination of filth and downright laziness. Despite the cost of a can of paint, your family room should NOT resemble a mud-room. And remember the sun shining through the windows? A little bit of elbow grease goes a long way!

     When the time comes to list your home for sale, take into account that your potential purchasers are searching for new roots. They need to be enticed, enthralled and enchanted at first glance. It needs to feel like THEIR castle, THEIR history, THEIR love story the moment your home comes into view. If expense is a concern, do it yourself. If there's litter in the front yard or the grass needs cutting, hire the teenager next door. Five dollars a time REALLY CAN make the difference! If not, there are numerous contractors, painters, decorators, cleaning services, and landscaping firms that your Real Estate Agent can recommend. For the more major repairs including replacement roof, flooring or structural defects, etcetera, you can opt to invest in the repair, or you can choose to disclose this information in the Listing Agreement.

     Also pay attention to the "finishing touches" - the serene background music, the tidy bathroom , the made beds, and the bouquet of flowers. Open a few windows, the air will be fresher. A welcome mat at the front door is inviting, and please, no laundry running in the machines while you attempt to catch a few more minutes of lost time! By being ruthlessly honest in your evaluation of your home prior to listing, you will:

  Position your home at the top of the "Too See" list

  Guarantee that your own roots will be transplanted sooner rather than later

  Protect your hard earned investment dollars.


     This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice. It is always best to take your questions to a licensed real estate professional in your local area.  

     No home is perfect! In one way or another, they all have defects to some extent. However, concealing problem areas can result in costly lawsuits....at your expense! The horror stories come in many forms. During the height of purchasing excitement, not everyone will notice the cracked foundation or faulty roof that leak only when it rains, turn on the hallway light to experience electrical gymnastics, or even flush the toilet to watch it overflow because the septic lines are blocked.

     Undisclosed defects can come back to haunt, destroying what you originally considered protected....your pocketbook and peace of mind! It is in both your best interest and that of your purchaser to obtain a structural inspection during contract negotiation. Settlement and legal fees cost far more than if you had agreed to a price concession or repaired it yourself!


This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice. It is always best to take your questions to a licensed real estate professional in your local area. Find respected agents in your area at mostreferred.com. Most Referred Real Estate Agents® and REALTOR® are registered trademarks of their respective companies.

     If your are buying a new home and selling your current one, place your home on the market as far in advance as possible of purchasing a new one. Selling your home prior to purchasing a new on allows you greater flexibility in financing as well as the piece of mind of not having to worry about selling that home after you’ve moved into your new one. Depending on market conditions you may be better off selling your current home and renting until you find the right home for you. If you find a new home first and then try to sell your present home, you may wind up with two mortgages, and in a financial position that threatens both properties. A real estate agent may be able to provide you with advice on current market conditions, and the potential challenges you may face.

     Also keep in mind that many events need to be coordinated when you sell and buy for example closing and moving dates have to be arranged. Put all agreements about dates in writing, and protect yourself by negotiating financial penalties for failure to comply. The firmer everyone commits to a window of dates and sticks to them, the better for all involved.

  This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice.

     If you're tempted to by-pass a real estate agent and sell your own home, think again. Setting the right price, reaching qualified buyers and negotiating the best deal takes training, experience and marketing savvy.

     If you're selling, it starts with the expertise to know what price to ask for. Setting the right price for the home is a matter of knowing the local market inside out.

A professional will come prepared with a comprehensive, detailed marketing plan. That marketing plan should include a competitive market analysis, a review of actual market conditions, and plans to promote the house.

The analysis, should include a comparison of other sales of comparable properties in the same neighbourhood, whether they were sold by the owner or through the Multiple-Listing-Service®, or MLS®, a co-operative marketing system open to REALTORS across Canada. Setting the price is a critical element in marketing the property. But look at the overall marketing plan. It should include exposure on various Internet sites and marketing plans at the local level. Gone are the days,  when a REALTOR would stick a sign on the lawn and wait for calls.

     Gaining an understanding of the seller's goals and priorities will help the REALTOR to price the home appropriately. Some sellers are more concerned with the timing and convenience of marketing their home than achieving a top price. And, of course, some sellers want both. The key is that if the property is priced correctly, you will be well positioned. After all, you only get one chance at a first impression with potential buyers and the REALTORS who work for them.

      Attracting a large number of qualified buyers is another challenge for the do-it-yourself seller. Listing with a REALTOR means there is a professional marketing representative working to get the maximum market exposure. That may include a listing on the MLS®.

     An important part of the REALTOR'S job is to ensure that qualified buyers see your home. Qualified means ready, willing and able to buy. They're ready to buy, they want to buy and they have the ability to purchase in that price range.

     The agent who lists your home and agents who bring buyers to see it usually connect buyers with sellers through the MLS®. Via the Internet, the listing service provides agents with almost instantaneous information about your home shortly after you sign a listing agreement with an agent. REALTORS within the geographic region of your property will be the first to learn of your listing.

     Most people find the homes they buy through the MLS®. Why, then, would some buyers seek private-sale homes? They may not want to be qualified. And they may be looking for the seller who has priced incorrectly, isn't good at negotiating or may be inclined to accept a condition or term in a badly worded agreement that isn't in the seller's best interests. Inexperienced buyers rarely buy privately and experienced buyers are looking for a seller who hasn't done his homework.

     Most buyers do some research on their own before approaching an agent to list their home. The public is much better informed than they were 10 years ago and that's good for everyone. They also welcome the advice and wisdom of a REALTOR.

     Perhaps the most compelling reason to sell your home through a REALTOR is that he knows what he's doing when writing up the listing and follows through every step of the way.

     Selling a home isn't simply a matter of finding a buyer. It includes negotiating, drawing up a contract that will hold together, being a sounding board for issues that arise in the process and making sure there is a successful closing. I recently wrote up an offer with an individual who commented on what a pleasure it was compared with a recent experience he had with a private sale. He said he would never go through that again.

     While it's true that some people are successful in selling their homes without an agent, but they represent a very small percentage of those who attempt to do so. When you weigh the cost versus the potential benefit, you'll see why so many people use a Realtor and services such as the MLS®.