The Real Cost of Selling Your Own Home
Before I provide a little dissertation on the issues related
to selling your home without the aid of a Realtor let me
first openly disclose to you the reader that I am a licenced
Realtor. I mention that up front so that you might hopefully
suspend any cynicism regarding bias on my part and allow
yourself to focus on the reasoning and facts supporting my
comments. After all, buying and selling a home is one of
your most important financial considerations, so it's
likewise important to be objective and discerning about
information relating to that key transaction.
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Determining the Asking Price
This is one of the most crucial aspects to selling your home
and where good advice from your Realtor can make all the
difference. It’s their job to know the current real estate
market and to be aware of other properties currently for
sale in your area. This knowledge and experience will be
invaluable when determining an appropriate asking price.
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Buying or Selling: Why Use a Realtor?
It’s a valid question and the simple answer is security
and efficiency. The Canadian Real Estate industry is a
highly regulated and governed industry. The result of this
governance is an extremely efficient market system that
affords all participants a high level of protection in
conducting real estate transactions as well as a method of
recourse where issues arise.
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Buy or Sell First?
If you’re a current home-owner considering looking for a
new house, you may be wondering what your strategy should
be. Should you wait to find the perfect new home before you
listing your current home or do you sell first and then look
around? Here are a few options to think about:
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What’s the big deal about Curb Appeal?
Remember, buyers are searching for a “home”- a place
they can imagine settling down and raising a family. As a
seller, your goal is to cultivate these feelings through the
property you’re selling. A buyer’s emotional response
is triggered early - within minutes of pulling into your
driveway, buyers have formed an impression they’ll carry
with them through the rest of the showing. So ensure
you’ve done everything you can to encourage a positive
response to your house from the very first moment they see
it. It is essential that your home possess what’s called
curb appeal. Go stand on the opposite curb and observe
your property and compare it to your neighbours’.
Concentrate on the following areas:
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Hiring the Right Realtor for You
Choosing a Realtor is a decision that could ultimately cost
or save you thousands of dollars. It requires doing some
homework and asking the right questions. Keep in mind the
person you choose will be handling almost every aspect of
the largest financial transaction of your life.
Experience, interests and expertise vary, so you should be
asking very specific questions in order to make sure the
Realtor you choose is someone you feel confident will
represent your best interests. Here is a list of questions
you can use as a guide:
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Know the Market before You Buy or Sell
The asking prices of most homes indicate the current state
of the market and usually mirror what similar homes in the
area have recently sold for. In determining a selling
price, a Seller must balance the desire to draw the highest
offer with finding a price reasonable enough to attract
interest and ultimately offers. While most Realtors advise
their clients to consider this equation when pricing their
home, remember that some homes are not properly priced.
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Making an Offer / Receiving an Offer
There’s no set formula to follow in figuring out an offer
price. It involves research and comparisons that vary with
every situation. You’ll need to look at sales of
comparable homes and factor in things like the condition of
the property, the current market and the Seller’s
circumstances. With this information, you’ll be able to
determine a fair price range and from there, set the amount
you’re willing to offer.
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Selling? Avoid These Mistakes.
The sheer number and scope of the details involved with
selling your home can become overwhelming if you let them.
Your realtor should be able to help you break them down into
manageable, achievable steps. That said, there are several
pitfalls to be aware of during the home-selling process.
Here are the six most common to avoid.
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Selling your home – again?
If your home didn’t sell during its first appearance on
the market, don’t get discouraged. The reasons it didn’t
sell may have nothing to do with the property itself or the
market. Other factors may have influenced the outcome.
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