Seller Tips

As your agent, I will work closely with you and make every effort to understand the dynamics surrounding your desire or need to sell—whether this is your home, an investment property or if you are the appointed trustee settling an estate or if the property in question may be part of foreclosure proceedings in the near future. Whatever the reason, we are here to help in every way possible.

Here are some tips that may help you as you prepare to sell:

Establishing your Asking Price
Deciding what price tag to put on the property is never easy. Price is often the determining factor for potential buyers. Location, layout and amenities are important but in the end most of us have to look at the bottom line. Many sellers like to think they can start with the price they originally paid, add a healthy mark-up and wait for the offers to roll in. A lot of those sellers will have to adjust their price once their home is on the market.

Try to put aside your subjectivity
The cherished memories you may hold of this home are basically unimportant to buyers. Usually they’re more interested in creating their own memories. An unsentimental look at the market value of properties similar to yours can save time and disappointment.

The amount you actually spent for home upgrades is worth mentioning in the listing information, but their reflection in the selling price can be somewhat distorted. The new carpet, paint, or deck you added may increase the value and shorten the time your home is for sale. It is unlikely, however, that you will be reimbursed dollar for dollar for those renovations! As design trends change you may also find that certain approaches to renewing your space have also changed making some of the changes you have made fine for the time you enjoyed them, but not what buyers are now looking for.

Arrange a Comparative Market Analysis (CMA)
It is standard practice for a seller to ask real estate agents to visit and evaluate their home. Ask for a comparative market analysis showing the selling prices of similar homes in the neighbourhood, those currently on the market and those that didn’t sell. A CMA presented by an experienced agent can provide a realistic price estimate of your home. Remember however that CMAs are not set in stone; they change with local market conditions.

Conduct your own market research
When homes in your area have open houses take a look. Use this opportunity to compare your home to "the competition" in terms of price, location, square footage, and amenities. Once you look at several listings you should be able to make an educated guess as to the market value of different aspects of your home. If you are months away from actually listing your home, visiting open houses may also help you discover which renovations could be profitable and appeal to today s consumers.

Calculate the price per square foot
There are many factors to take into consideration when determining market value. Price per square foot is a good starting point. You can get a fair idea of the average price per square foot of homes in your neighbourhood by reviewing properties sold or for sale recently. Remember that there is more than one way to count square footage so it s a good idea to ask your agent what method is commonly used in your area.

Consider market conditions
Real estate is one of the most secure investments you can make but prices can rise and fall independent of the quality of the individual properties. If you attempt to sell your home when the market dips you will find you may have to lower the price below your expectations. Interest rates, the state of the economy and the local job market should be considered before you put your home on the market. The time between price peaks varies due to local and national market influences. These characteristics will assist you in determining if there is any market timing opportunities.

Finally, consider your own needs when setting your price. Are you in a hurry to sell? If so you may want to knock one or two percent off the market value. Is there a minimum amount you can afford to accept? If you have the luxury of time you have more leverage. Keep in mind however, that a house that is on the market too long or has a large price reduction at some point, may be viewed as "damaged" or "stale goods."

Your best strategy may be to establish a fair asking price from the start. Most buyers will make an offer lower than the listed price in a bid to see how low you will go. However, those who have researched the market will be willing to meet you near your terms.

Showing Off Nicely

Five Tips to Prepare your Home for Showing
When it comes to selling real estate, appearances are everything and first impressions are often all you have. Your efforts to improve the appearance of your home will boost the number and value of offers you receive, and ultimately accelerate the sale of your home.
Sometimes it’s difficult for homeowners to be objective on important matters of showing form and function. Your Sutton Associate can offer you personal and professional advice on what you really need to do and what you could do better to improve your home’s selling prospects. Here are a few suggestions to get you started:

Outside Matters. Get off to a good start by welcoming buyers with a tidy and inviting exterior.

• Driveway - keep the garage door closed and clear any tools, toys, oil leaks and snow
• Yard - mow the lawn, trim hedges, rake leaves and offer a touch of flower power
• Exterior - wash the windows, clean / repair any obvious damage to the roof, gutters and siding
• Entrance - a tidy walkway and freshly painted door open a world of possibilities
  

Clean Bill of Health. A clean home will show better and more often than a cluttered home.

• Rooms - do a thorough top-to-bottom cleaning of every room including walls, counter surfaces, fixtures and windows
• Flooring - remove carpet stains and floor markings as much as possible
• Storage - attics, basements and closets are important selling features that need to be presentable
• Odors - every buyer is looking for a sense of fresh so it is up to you to eliminate any offensive food, pet, smoke or mildew odors; shampoo carpets, empty garbage frequently, bathe pets and open windows for fresh air; introduce pleasing scents - subtly - with potpourri, candles or baking. Some buyers will, however, find that plug-in deodorizers to be too strong and offensive, so be careful not to overdo it!
  

Gut the Clutter. Clear space sells whereas over-excessive decoration or too much “stuff” everywhere often doesn’t.

• Clearing space and removing unnecessary clutter makes your home seem bigger and brighter.
• Furniture - consider storing furniture you don t use or need to create more space
• Knick-knacks - too many ornaments and personal mementos can impose a sense of style and burden otherwise pleasing features
• Counters - unnecessary appliances and gadgets should be stored away
  

Keep your property in good repair. Ensuring that your home is in complete working order assures buyers they are making a sound investment in a home that has been well cared for. Yours should be a property that won’t bring unwanted surprises down the road. Here are a few examples of the kinds of things prospective buyers will notice when they view your property:

• Leaky faucets
• burned-out light bulbs,
• noisy furnaces, HRV systems or air conditioners,
• sticky doors,
  
• broken and/or dirty windows
  
• any build up of moulds
  
• moss on the roof
  
• downspouts that do not drain properly
  
• dysfunctional appliances

All of these details should be dealt with so that they do not “break” the deal for the buyer of your property.

Fresh and Clean Like New. Buyers are looking for a new home, so give them a taste of what’s to come.

• a fresh coat of paint,
• a new area rug or
• dry clean the drapes
• wash all of the windows and doors

These are relatively small investments of your time that can impress buyers. Remember that neutral colours are always best and subtle styles have wider appeal.