Lets talk! At the forefront of our service is Agency Law, Real Estate and Business Brokers Act (soon to be and the Realtor Code of Ethics, and Disclosure. Understanding the market and issues around our sale is our specialty. We guarantee honesty, integrity, and personal service.
We study Home Price Indexes, Geowarehouse, Municipal Property Assessment Corporation Reports (MPAC) as well as data from the Canada Mortgage and Housing Corporation (CMHC), Ottawa Real Estate Board (OREB), Royal LePage National an local Data, Multiple Listing Service (matrix) data, Realtor.ca data and much much more…We know the market, we are the market!
Pricing Your Property
The single most important decision you will make is determining the right asking price for your property. We are here to help!
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 and the more 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 over-priced, 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 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 sit up and take notice. If the home is over-priced, it doesn’t take long for interested parties to move on. By the time the price drops the 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.
Our team prepares a personalized plan for you containing all activities required to market your property, including listing on the MLS®, creating marketing materials, traditional and digital advertising, and networking with other members of the real estate community.
Signing a Listing Agreement
The first formal step in marketing your property is to enter into a Listing Agreement – a contract that commits Royal LePage Performance Realty 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 upon the successful closing of the sale. Typically we require the following documents:
- Survey – if in your possession. A survey of your property that outlines the lot size and location of buildings as well as details of encroachments from neighbouring properties.
- Property Tax Receipts
- Most Listing Agreements require that the current annual property tax assessments be shown.
- Mortgage Verification and FINTRAC Identification
- Keys and codes
- You may be asked to provide identification as well as authorize your mortgage lender to provide the figures required.
This may include annual heating, electrical and water expenses, as well as any recent home improvement and repair costs.
The Major Elements of an Offer
Depending on the market and the local market condition, the price offered may be different from the asking price.
The deposit demonstrates the buyer’s good faith and will be applied against the purchase price of the home when the sale closes. Your REALTOR® can advise you on the suitability of the amount of the deposit being offered. Deposits are held in legal trust accounts until completion of the transaction.
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.
These might include “subject to home inspection”, “subject to buyer obtaining financing” or “subject to the sale of the purchaser’s property”.
Inclusions and Exclusions
These might include appliances and certain fixtures or decorative items, such as window coverings and mirrors.
Generally, the day the title of the property is legally transferred and the transaction of funds finalized.
With You at Every Step!
Staged homes sell faster. Buyers make their minds up within the first 16 seconds of entering your home. Successful presentation enables a buyer to see themselves in your home, and not how you’re currently occupying it. Simple guidelines for everyone:
Less is More
Take a good look around your home. Now imagine it with only half of the belongings. Some consultants even aim to remove at least two-thirds of items from a home to allow a room’s features (including size, flooring, and architectural details) to come forward so that buyers aren’t focusing on your collection of ceramic roosters instead.
Follow Common Safety Sense
Put your home under a “witness protection program” and remove anything that identifies who owns the property. That way a prospective buyer doesn’t have to mentally clear you out before they can imagine themselves in your home. At the top of the list are the family photos on the mantelpiece and notes to each other stuck on the fridge. Prospective buyers don’t need to know that Jimmy won the soccer tournament or that you’re out of milk.
Let There Be Natural Light
Open your doors and windows, clean them and don’t block them! Just because you haven’t used that side door in years doesn’t mean that you should ignore it – keeping it hidden will make buyers suspect that there’s something wrong with it. (If there is, fix it.) Keeping windows clean and the curtains tied back will let more natural light into your home.
Pets and Smoking
While few can resist the unconditional love of a pet, many prospective buyers would prefer not to see pet hairs or smell evidence of a pet. If possible, try to find a place for your pet to stay for a few days and have your carpets steam-cleaned to eliminate any lingering odors. Or try to have your pet reign in one room or on one floor and give the area a thorough cleaning prior to an open house. Remember also to tuck pet beds, litter boxes and food dishes out of the way. A smoke free property matters and affects your price.
Peek Behind Closed Doors
Take a good look at your closets and cupboards. What kind of impression would they give a prospective buyer? Are they bursting at the seams or do they provide ample room for all your stuff? Take a minute to organize your items, wipe down shelves and air out your cupboards. Clearing out the clutter will work in your favour; interested buyers will always take a peek, even if they don’t admit to doing it.
Follow Your Nose
People use all of their senses when they evaluate a property, so remember to keep their noses happy. Avoid preparing aromatic foods using garlic, onions or other fragrant ingredients two days before your open house. Tuck fabric softener sheets in areas where shoes and sporting equipment is stored.
One Focal Point
The best way to showcase a room is to choose one focal point for it. It could be a window, fireplace or distinctive piece of furniture-the goal is for it to draw the eye in and then around the room. The elimination of clutter and excess furniture is key; you don’t want potential buyers distracted when they are inspecting the floors, molding and overall size and shape of the room.
Minimize The Negative
Stand at the entrance to a room. What is your eye drawn to first? If it’s something you prefer buyers not focus on, like a stucco ceiling or sponge-painting gone wild, your best defence is an eye-catching accessory near the front of the room. It’s done on home-staging shows all the time-they use a bowl of green apples or a vase of fresh flowers to successfully take eyes away from an offending feature for that pivotal moment when a first impression is made.
By investing some time into home presentation you can ensure that your property is set to sell.