Sasha was a pleasure to work with. He made the sale of our duplex easy with minimal inconvenience to our busy family of five. Handled all the showings, tenants rights and due diligence while able to sell it for top value. - N. & S.
When should you get a Winnipeg property assessment done? Are you thinking about selling your home but wondering if the right time is NOW? To help you determine if it is, I have used my 10+ years of real estate experience, to put together a guide to walk you through the steps of selling your property and give you the tools you need to make this important decision.
First of all, you need to know that local market conditions will have the most impact on the amount of money you can get for your property – and how quickly you can sell it. You may put a price on your home, but the market is what really prices it.
Under any circumstances, selling a home can be a stressful process, emotionally, financially and physically. To help ease this stress, I am here to counsel you through the sale with wisdom and experience, saving you incalculable aggravation and money. I know your neighborhood, what Buyers want in a home, how to negotiate the best price and how to close the deal for you. Together, we can make the sale of your property easy and worry-free – and it all begins with you!
The market sets the price, not wishful thinking or any other factors. It is a simple law of supply and demand. Here are some things that have no actual impact on market value:
My job is to help you set a realistic price to match market conditions so your home sells quickly for the best possible price. Where my expertise comes in, is in the comprehensive analysis of what comparable/similar/competitive homes have recently sold for in your neighbourhood, weighing that with your home’s unique features. This process is known as a Comparative Market Analysis (CMA) and it is generally considered the most effective method of determining what potential Buyers will be willing to pay for your home.
Contact Sasha for a Complimentary Market Analysis of Your Property
The CMA is divided into three categories:
By carefully studying the comparable property locations, features and terms, we can develop a clear picture of the potential market value for your property. This is a similar process that banks and lending institutions use in determining how much they will be willing to lend you for your home.
In addition to the CMA, I will help you develop a competitive price based on other key factors such as:
Listing your property at market value is essential to a successful sale because Buyers will not be looking at either overpriced or underpriced homes. Most Buyers working with Realtors® receive property listings from their Realtor® via email, who is searching for them within the parameters of their needs. If the buyer’s budget for a home is $400,000, they are likely only looking at homes priced from $350,000-$450,000. You want your property to be seen by the Buyers who want a property like yours.
Another important factor to determining the correct price is that your home will lose its “marketability” after sitting too long on the market. There may be nothing wrong with your home, other than an unrealistic price, but it will eventually develop a stigma. Buyers will forget all about the overpriced home they saw weeks earlier; Realtors® searching on behalf of new clients will see the DOM (days on market) and wonder what is wrong with the property and why it has not sold yet. When they look at the previous selling price(s) and comparable properties they may not be willing to present your home enthusiastically to their clients if they feel it is not priced correctly.
You will attract more interest on your home if it is priced realistically and Buyers will most likely bring their best offer if they really want your home.
Most Buyers take between 2 and 6 weeks to build confidence and collect information about prevailing market conditions before making their first offer. By the time a typical Buyer is ready to make an offer, they will have seen all of the existing properties for sale in your neighbourhood and will only be waiting to see new listings as they arrive on the market.
This means the first few weeks after listing are the most critical since the number of prepared Buyers who will see your home will be at its peak. As a result, many vendors often come to realize that the first offer is usually the best offer. Listen to your agent’s advice and price right from the beginning.
Once you have decided to list your property for sale, you can count on me to:
Real estate never stops! I have sold homes over the Christmas holidays and even in traditionally slower months, like August. Though spring and fall are the most active seasons for real estate, in the summer and winter there are usually fewer homes for sale to accommodate the needs of Buyers, so your property would have more exposure. Going a little bit against the grain has helped my clients in the past, but we will look at all factors, keeping your ultimate goals and timelines in mind, and determine the best time for you to sell.
In order to put your home on the market, legal documents will come into play. The most important of these is the Listing Agreement, which is a contract between you and my brokerage, Meridian Realty.
The second major form is the MLS Data Form for putting your home on the Multiple Listings Service (exclusive agreements are different, used less often, and may be appropriate in some cases but we will discuss that during our consultation.) The MLS data form will:
In addition to these documents, there are other forms to spell out in writing your preferences about showings, offer dates and other important items. These documents are binding for us both, so we will go over them very carefully before you sign anything! Of course, you will receive copies of all the signed documents for your records.
There are also some things I will need from you, including:
My team will make copies of all the above and return the originals to you.
I will develop a detailed, custom marketing plan that will give your property the maximum exposure and attention it deserves. Some of the ways I use to market my client’s properties include:
For some homes I even arrange cleaning, painting, formal staging and/or even a pre-sale home inspection from a qualified inspector so your home’s condition is honestly disclosed to potential Buyers. We will discuss which extras your home may need, as well my full list of advertising options, when we meet! You will always be informed about what actions are being taken to sell your home, and receive regular progress updates regarding feedback from showings and other interest on your home. I will also be sure to keep you up-to-date on sales of other homes in the area to keep you informed.
During the listing period, your house should be ready to show at all times – meaning clean and clutter-free. Remember that those last minute touches before someone comes to view your home can make all the difference:
Though cosmetic issues are not necessarily a sign of a badly maintained home, Buyers sometimes place a lot of emphasis on a property’s presentation. First time Buyers can be especially concerned with making such a big purchase and they want everything to be – or at least, to look – perfect.
Your home’s exterior is the first thing potential Buyers are going to see, and if is dilapidated, it may turn them off before they even see the inside. First impressions, also known as “curb appeal”, definitely count for a lot!
Here are some things you can do to improve the look of your home’s exterior:
Here are some simple things you can do to improve the look your home’s interior:
Along with the cosmetic issues, you can also do some renovating to increase your property’s value. According to Canadian surveys, the top three renovations that return the best increase on your investment are:
These renovations would be the top recommendations for return on investment for your home:
Keep in mind though, that not every home needs to be renovated or updated for a successful sale. Some Buyers like to do their own home renovations, and are looking for a “blank canvas” to work with.
If you have accumulated a lot of clutter over the years, be prepared to rent a storage locker or POD in which to store some of your belongings during the sale of your home. Other options are to hold a yard sale or give generously to charity. Here are some of the areas you will want to tidy up to improve your home’s presentation:
Surveys of Canadian homebuyers suggest that Buyers are willing to spend time and money decorating to their tastes once they have moved in, so there is little need to purchase expensive décor that the Buyers may just eliminate later.
The best times to consider staging and decorating are:
Here are three important things to look at in an offer you receive:
There are several options to facilitate the continuing appointments after an offer is accepted for inspections, appraisals and walk-throughs. We can discuss leaving a lockbox on your property for easy entry of approved parties, or I can retain a set of keys, or you can arrange to be home for these visits.
I always encourage my clients to stay on good terms with the people who bought their home. Though the Buyers are legally obligated to close the deal, it is always nice to have a good relationship with them – what goes around, comes around! This can mean being as flexible as possible when the Buyers are arranging their access visits; being willing to consider Buyers’ offers to purchase some of your furniture and decor not included in the offer; and getting back to me in a timely manner so I can respond to any of the Buyers’ requests.
Here is a list of some more simple things you can do to make this a great experience for the Buyers:
In addition to reviewing your offer and preparing legal documents, your lawyer will also meet with you on closing day to fully execute all the documentation, receive your keys to hand over to the Buyer’s lawyer, and also carry out the exchange of documents and monies. Here are twelve things that your lawyer will do for you:
In order to help expedite the process, below is a list of some items your lawyer may ask for:
When you are selling your home, closing day is a little different than when you are buying. As a Seller, you should have met with your lawyer a couple of days prior to closing. At this meeting you will sign off the mortgage, the legal papers, and give a set of keys to your lawyer for the Buyers.
You will be notified by your lawyer when the property is officially closed. They will advise you when that the money and keys have changed hands, and the Buyers are registered on title.
Although I strive to make each transaction as smooth as possible, sometimes issues can arise. If you are concerned about anything, please get in touch with me. After your property closes, I will keep in touch from time to time to see if there is any way I can help you. It is my way of showing gratitude for the trust you put in me to sell your home and seeing you happily moved on to the next phase in your life.