The Key to Selling Your Home

Selling your home can be both an exciting and overwhelming process. This guide outlines the steps that you and Derek Weatherhead will follow to help you get the quickest sale at the highest value for your property.

Price Your Property

The most important decision you will make when selling your home is determining the right asking price for your property in the current market conditions.

There are a few key factors to consider when pricing your property:

1. Market conditions: Look at the current state of the housing market in your area. Is it a buyer's market or a seller's market? Are homes selling quickly or sitting on the market for a long time? These factors can impact the price you can expect to get for your home.

2. Comparable properties: Look at properties similar to yours that have recently sold in your area. This will give you an idea of what buyers are willing to pay for a home like yours.

3. Your home's features and condition: Consider the features of your home, such as the number of bedrooms, bathrooms, and square footage, as well as its condition. A home with more bedrooms or a finished basement will typically be worth more than a similar home without these features.

4. Your local real estate market: Research recent home sales in your neighborhood to get a sense of what similar homes are selling for.

5. Hire a professional: If you're unsure of how to price your home, hire a real estate agent. We are professionals and have expertise in the local real estate market and can provide valuable insight into the best price for your property.

It's important to keep in mind that the price you ultimately decide on for your home will depend on a combination of these factors. It may take some time and research to determine the best price, but it will be worth it in the end to get the most money for your property.

The Benefits of Pricing Right

Your property sells faster because it is exposed to more qualified buyers.

Your home doesn’t lose its “marketability”

The closer to market value, the higher the potential volume of offers received.

A well-priced property can generate competing offers.

The real estate community will be enthusiastic about presenting your property to buyers.

The Result of Overpricing

Many sellers believe that if they price their home high initially, they can lower it later.

Often when a home is priced too high, it experiences little activity. Gradually, the price will come down to market value, but by that time it’s been for sale too long and some buyers will be wary and reject the property.

You may think that interested buyers “can always make an offer”, but if the home is overpriced, potential buyers looking in a lower price range will never see it.

On occasion, the price is dropped below market value because the seller runs out of time. The property then sells for less than it’s worth.

The Importance of Early Activity

As soon as a home comes on the market, there is a flurry of activity surrounding it. This is the crucial time when potential buyers take notice.

If the home is overpriced, it doesn't take long for interested parties to move on. By the time the price drops, a majority of buyers are lost.

Define Your Marketing Plan

Your property is not something you sell every day. In fact, for most people, it is their largest asset. A house is very complex to market and the process needs to be well organized. To do the job properly, a plan is needed.

Derek Weatherhead's team can prepare a personalized plan for you containing all activities required to market your property.

Several of the strategies that we use to market your property are:

- High Quality video, virtual tours, and images: Buyers often have high expectations when it comes to the properties they are interested in. It is so important to showcase your property in the best light possible. We use professional photography and videography, plus create a virtual tour of the property.
-We utilize targeted advertising to reach specific demographics to target potential buyers who are interested in real estate. This includes social media platforms, Facebook, Instagram, Twitter and TikTok, Google Adwords, Google Display Network, and targeted email campaigns.
-Host Event and Open Houses: Hosting agent and highly marketed open houses can be a great way to attract agents (who work with many buyers) and buyers themselves to the propety.
- Listing your property on the MLS (Multiple Listing System) and many real estate websites and market places, including Realtor.ca.
-Print Media: We provide marketing materials in the form of full color brochures, flyers, newspaper, and magazine ads.

By using a combination of these marketing strategies and more, we can effectively reach potential buyers and sell your home.

Signing a Listing Agreement

The first formal step in marketing your property is to enter into a Listing Agreement - this paperwork commits Derek to actively market your home for a specified period of time. It also commits you to a pre-established marketing fee that is to be paid only upon the successful closing of the sale. You may be required to find the following documents:

-Plan of Survey of Location Certificates

-A survey of your property that outlines the lot size and location of buildings as well as details of encroachments from neighboring properties.

-Property Tax Receipts
-Listing Agreements require that the current annual property tax assessments be shown.

-Other Documentation (leases, service agreements, strata information etc)

-Annual heating, electrical, and water expenses, as well as any recent home improvement costs.

The Major Elements of an Offer

Price

Depending on the current market and the local conditions, the price offered may differ from the asking price.

Deposit

The deposit shows the buyer’s good faith and will be applied against the purchase price of the home when the sale closes. We can advise you on the suitability of the deposit being offered.

Terms

Includes the total price the buyer is offering, as well as the financing details. The buyer may be arranging their own financing or may ask to assume your existing mortgage if you have an attractive rate.

Conditions

Offers can be “firm” which means that buyers are willing to buy the home exactly as it is. Or, the offer could be “conditional” on things like a property inspection, approval of financing, or the sale of their existing home. The home may not be sold until all agreed-upon conditions have been met.

Inclusions and Exclusions

These might include appliances and certain fixtures or decorative items, which would be included (or excluded) in the purchase of the property such as window coverings, light fixtures, or mirrors.

Closing or Possession Date

Generally, the day after the title of the property is legally transferred and the transaction of funds is finalized, unless otherwise stated.

With You at Every Step

Derek brings invaluable knowledge and expertise to the home selling experience and is dedicated to your needs from the pricing, to purchase, to relocation. Please don't hesitate to call Derek Weatherhead today if you have any questions.