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May 23rd, 2013 
Scott Harrison
Sales Representative 416.558.3979

Keller Williams Advantage Realty, Brokerage
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Sellers Tips

Sellers Tips

14 IMPORTANT FACTS TO CONSIDER BEFORE YOU TRY TO SELL YOUR OWN HOME 
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.
PREPARING YOUR HOME FOR SALE 
PREPPING AND STAGING YOUR HOME
Every seller wants her home to sell fast and bring top dollar. Does that sound good to you? Well, it's not luck that makes that happen. It's careful planning and knowing how to professionally spruce up your home that will send home buyers scurrying for their checkbooks. Here is how to prep a house and turn it into an irresistible and marketable home.

Difficulty: Average

Time Required: Seven to 10 Days

BE OBJECTIVE
Say to yourself, "This is not my home; it is a house -- a product to be sold much like a box of cereal on the grocery store shelf.
Make the mental decision to "let go" of your emotions and focus on the fact that soon this house will no longer be yours.
Picture yourself handing over the keys and envelopes containing appliance warranties to the new owners!
Say goodbye to every room.
Don't look backwards -- look toward the future.


THINGS YOU NEED TO DO
Buying a home is an emotional decision. The Buyer needs to relate to the property. They need to be able to picture themselves as well as their furniture/belongings in each of the rooms... or at least see the possibilities of the rooms.

PAINTING - LOOSE THE DRAMA
Painting is the most cost effective way to improve the look and feel of your home. It also provides for the best return on your "fix-up" investment.

BUT, unless you are planning to enlist the help of an interior designer, steer clear of unusual and/or dark colours. Although they may be your favourite colours, you have to respect the fact that lime green and orange may not have mass appeal. (Okay, so you would never use green and orange, but you get my point. This example may seem like an exaggeration but I have actually seen it... more than once.)

As a rule of thumb, the darker your home (some homes are filled with sunlight and some get very little) the lighter the paint.

Stay with neutral colours. Creams (not too yellow), beiges, sage green and the like are popular. For colour combinations stick to the swatches (samples you get from paint retailers). Usually there are six to eight shading variations per swatch family, so if you are using 2 colours in a room you can pick a lighter colour for 3 walls and then move 3-4 shades darker for the fourth (as an example).

KITCHENS and BATHROOMS
In most cases, women determine which home to buy, and kitchens and bathrooms are the rooms that influence them the most. SO, if you can't walk into your kitchen or bathroom(s) and say, "I like this room" you are at a serious disadvantage.

Depending on the price bracket, spending 10's of thousands on remodeling your kitchen and/or washroom(s) may not be feasible. There are alternatives. Habitat for Humanity operates ReUse Stores where you can pick up good quality kitchens for under $2,000 and bathroom fixtures for a fraction of the retail price.

Still too much money? Don't panic, in most cases a coat of paint and/or some new tiles may be all you need to turn your dingy kitchen or bathroom into a more than acceptable space.

Paint your cupboards and add new hardware. Melamine paints are available for those 70's style kitchens.

There are even paints available for bathtubs should they be scratched, chipped or simply obnoxious.

Also, you need to ensure tiles and fixtures are clean and bright... scrub those tiles and grout (mortar between the tiles) and scrape off and replace caulking. (rubbery sealant around edge of tub next to the wall)

Remember to use the swatches. Light coloured walls with a little darker cabinetry is very attractive.

Should you not be able to decide on a paint colour, just paint it white. White may not be a favourite colour but Buyers won't find it offensive either.


DE-PERSONALIZE
Pack up those personal photographs and family heirlooms. Buyers can't see past personal artifacts, and you don't want them to be distracted. You want buyers to imagine their own photos on the walls, and they can't do that if yours are there! You don't want to make any buyer ask, "I wonder what kind of people live in this home?" You want buyers to say, "I can see myself living here."

REMOVE CLUTTER
People collect an amazing quantity of junk. Consider this: if you haven't used it in over a year, you probably don't need it.
If you don't need it, why not donate it or throw it away?
Remove all books from bookcases.
Pack up those knickknacks.
Clean off everything on kitchen counters.
Put essential items used daily in a small box that can be stored in a closet when not in use.
Think of this process as a head-start on the packing you will eventually need to do anyway.

REARRANGE CLOSETS AND CABINETS
Buyers love to snoop and will open closet and cabinet doors. Think of the message it sends if items fall out! Now imagine what a buyer believes about you if she sees everything organized. It says you probably take good care of the rest of the house as well. This means:
Alphabetize spice jars.
Neatly stack dishes.
Turn coffee cup handles facing the same way.
Hang shirts together, buttoned and facing the same direction.
Line up shoes.

RENT A STORAGE UNIT
Almost every home shows better with less furniture. Remove pieces of furniture that block or hamper paths and walkways and put them in storage. Since your bookcases are now empty, store them. Remove extra leaves from your dining room table to make the room appear larger. Leave just enough furniture in each room to showcase the room's purpose and plenty of room to move around. You don't want buyers scratching their heads and saying, "What is this room used for?"

REMOVE/REPLACE FAVOURITE ITEMS
If you want to take window coverings, built-in appliances or fixtures with you, remove them now. If the chandelier in the dining room once belonged to your great grandmother, take it down. If a buyer never sees it, she won't want it. Once you tell a buyer she can't have an item, she will covet it, and it could blow your deal. Pack those items and replace them, if necessary.

MINOR REPAIRS
Replace cracked floor or counter tiles.
Patch holes in walls.
Fix leaky faucets.
Fix doors that don't close properly and kitchen drawers that jam.
Consider painting your walls neutral colors, especially if you have grown accustomed to purple or pink walls.
(Don't give buyers any reason to remember your home as "the house with the orange bathroom.")
Replace burned-out light bulbs.
If you've considered replacing a worn bedspread, do so now!

CLEANLINESS IS NEXT TO GODLINESS
Wash windows inside and out.
Rent a pressure washer and spray down sidewalks and exterior.
Clean out cobwebs.
Re-caulk tubs, showers and sinks.
Polish chrome faucets and mirrors.
Clean out the refrigerator.
Vacuum daily.
Wax floors.
Dust furniture, ceiling fan blades and light fixtures.
Bleach dingy grout.
Replace worn rugs.
Hang up fresh towels.
Bathroom towels look great fastened with ribbon and bows.
Clean and air out any musty smelling areas. Odors are a no-no.

BE OBJECTIVE/CRITICAL EYE
Go outside and open your front door. Stand there. Do you want to go inside? Does the house welcome you?
Linger in the doorway of every single room and imagine how your house will look to a buyer.
Examine carefully how furniture is arranged and move pieces around until it makes sense.
Make sure window coverings hang level.
Tune in to the room's statement and its emotional pull. Does it have impact and pizzazz?
Does it look like nobody lives in this house? You're almost finished.

CURB APPEAL
If a buyer won't get out of her agent's car because she doesn't like the exterior of your home, you'll never get her inside.
Keep the sidewalks cleared.
Mow the lawn.
Paint faded window trim.
Plant yellow flowers or group flower pots together. Yellow evokes a buying emotion. Marigolds are inexpensive.
Trim your bushes.
Make sure visitors can clearly read your house number.
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