Getting Ready

Thinking About Selling

Getting Ready - Choosing the Right Agent

Your RE/MAX agent, Mike Bussiere, is a trained professional who knows and understands the numerous aspects of this real estate market.

Give me a call and I’ll take the time you need to evaluate the best options for you to save time, money and aggravation.

Should You Go With a Non-Exclusive or Exclusive Listing Arrangement?

Exclusive: If you enter into this type of arrangement with an agent, you are giving him or her the exclusive right to find a purchaser for your home. With this type of arrangement, other agents may not bring potential buyers to your home because they may not know of the listing or forgot it’s on the market or other...

Sometimes a Seller, for various reasons, may have a need to go with an exclusive arrangement. If this is the case, I or another agent in my office may have a potential Buyer on their waiting list looking for a property like yours. Personally, and at the time of writing this article, I am working with more than sixty buyers looking for all types of real estate.

Non-Exclusive: With this type of agreement you give me the permission to market your property in the organized real estate marketplace. This allows all potential Buyers access to the information through public access media as well as all real estate agents registered with applicable real estate boards.

My personal recommendation for you is this: I would like to maximize the market exposure of your home or cottage in the most effective and productive means possible to get your property sold for the most amount of dollars in the least amount of time. In order to do this I would strongly encourage you to consider a non-exclusive arrangement.

Understand Market Conditions

The real estate market is in constant flux, not only as a whole but in specific areas as well. Knowing what is going on in the overall and local real estate markets will help you understand how these conditions can affect the sale of your home. The following chart is designed to help give you an overview of the three significant market positions. When you meet with me I will be taking the time you need to discuss market conditions to help you understand the current state of the market. It is important for you to understand so that your property is well positioned in the market.

1. Buyers' Market: The supply of homes on the market exceeds demand.

Characteristics: High inventory of homes. Few buyers compared to availability. Homes usually stay on the market longer. Prices are stable or perhaps dropping.
Implications: Buyers spend more time looking for a home, and when they negotiate, they usually have more leverage.

2. Sellers' Market: The number of potential buyers exceeds the supply of homes on the market.

Characteristics: There is a smaller inventory of homes with many buyers. Homes sell quickly. Prices usually increase.
Implications: Prices may be higher or perhaps climbing. Buying decisions must be made quickly. Conditional offers may be rejected.

3. Balanced Market: The number of homes on the market is roughly equal to the demand.

Characteristics: Demand equals supply. Sellers accept reasonable offers. Homes sell within a reasonable time period. Prices generally remain stable.
Implications: There is less tension among buyers and sellers. There is a reasonable number of homes to choose from.

Do You Have All of the Necessary Documents Handy?

Gather the documents you'll need to sell your home.

Mortgage documents: you may wish to meet with your loans officer to discuss transferring, discharging or paying out your mortgage. This is a good time to begin negotiations on the terms of your next mortgage.
Property survey: if you have one or if one is available. Be sure to let me know if there have been any changes to your property that could affect the accuracy of the survey.
Your deed or transfer of title document and lawyers' documents that were given to you when you purchased your home or cottage.
Tax assessment documents.
Utility bills.
Other claims relating to your home:
    - separation agreement or court order
    - will or probate documents
    - liens
    - unpaid judgments against you
    - unpaid taxes
    - unpaid utilities
    - pending litigation
Pertinent condominium documents (if you live in this type of home).
Maintenance history (include repair receipts).
If you have made any renovations, building permits and inspection reports are helpful.
Items and information that will make your home more marketable:
- photographs or videos of your home with the garden in bloom or your pool open and beautiful
- conceptual ideas for upgrades or renovations that you have considered

Determine Your Asking Price

Before you put your home up for sale, you must set the price. And before you can do that, you must know what the house is worth. That doesn't mean what you paid for it, or how you upgraded it. Determining worth is simply finding out what someone would pay for it.

The steps in determining worth are:
1. Understanding market conditions
2. Getting the details about recent sales, competition and expireds in your neighbourhood

I have access to all of this information. In addition, I can objectively see the big picture and you will help by telling me what makes your home unique.

Once you've determined your home's worth, you and I, together will determine the asking price. Most often, the price of a home is set slightly higher than it’s worth, to give a little "bargaining space." Of course, if it is set too high, it will likely deter prospective buyers.

If you're in a rush to sell your home, setting the asking price a little lower than what your home is worth will attract a lot of attention. But beware, if the price sounds too good to be true, buyers may be skeptical. They may even offer less than the asking price anticipating problems with the home down the road.

Should You Offer Any Additional Items?

You may choose to include your appliances in the sale, or you may offer a redecorating allowance. You may also be able to offer creative financing. You may also consider purchasing a home warranty (covering major appliances and systems) to make the home more attractive.

Document Checklist

Mortgage documents
Property survey
Your deed or transfer of title documentand lawyers' documents (at time of your purchase)
Tax assessment documents
Utility bills
Other claims relating to your home
Pertinent condominium documents (if you live in this type of home)
Maintenance history (include repair receipts)
Building permits and inspection reports are helpful.
Additional sale enhancing items and information

Forward: Marketing Your Home

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