Frequently Asked Seller Questions

by | Dec 19, 2012 | Selling

Sellers Frequently Asked Questions:

As a seller, you have to understand how the market works, or you risk selling for less than you might have. Here are important questions on the minds of many sellers. Feel free to Contact Us with any others.

    1. When’s a good time to sell my home?
    2. Should I buy first or sell first?
    3. What’s a CMA?
    4. What is a FSBO?
    5. Do I have to put a For Sale sign on my lawn?
    6. Is a public open house really necessary or effective?
    7. Can I restrict showings to meet my schedule?
    8. Is it safe to have a lockbox on my house during showings?
    9. If my house doesn’t sell within a specified time, can I take it off the market and put it back on later?
    10. Why is the period between listing and offers so short?
    11. If the buyer doesn’t have a certified cheque, should I still accept his offer?
    12. Should I consider offers on a certain date or look at them as they come in?
    13. Do you recommend staging my home before putting it on the market?
    14. Do I have to spend a lot of $ renovating or can I sell my home as-is?
    15. What is a pre-sale home inspection, and should I get one?
    16. If my home is for sale with you, how will I know how things are really going?
    17. Will agents showing my home treat my home with respect?
    18. Should I be present for showings to show prospective buyers all the special features of my home?
    19. If I price my home high, can’t we always work our way down from there?
    20. What is my home really worth?
    21. What are homes going for in my neighbourhoo
    22. What’s a CVA
    23. What is an SPIS?

 

  1. When’s a good time to sell my home?Currently we’re in a sellers’ market, which means that the number of qualified buyers exceeds the available inventory of homes for sale…so now’s a great time to sell your home! There are many other factors such as seasonality, availability comparable homes for sale, new by-laws and even weather, that can come into play. We’ll evaluate the best time to sell your home and present you with all your options so you can make an informed decision on when to sell.
  2. Should I buy first or sell first?It isn’t necessary to have the proceeds of the sale of your home in hand to buy a new one – your mortgage broker can explain bridge financing and other options to you. In our experience, when your home sells, you will find the right one. And you’ll be one step ahead of the great majority of buyers out there. You will have been working with a Realtor® to sell your home, so you’ll have gained a tremendous edge – knowledge of the market.
  3. What’s a CMA?A Comparative Market Analysis is a comprehensive report we provide to clients who are thinking about selling, detailing the recent area market activity using the most up to date statistics. It provides the basis for an accurate suggested listing price designed to sell your home for the best price the market will bear.
  4. What is a FSBO?For Sale By Owner is always an option! It involves your selling your home on your own, without using a real estate professional. While we don’t recommend undertaking this complicated, expensive process on your own, we will be happy to send you a free report of do’s and don’ts when selling your home by yourself.
  5. Do I have to put a For Sale sign on my lawn?We recommend it! You’d be surprised how many people contact us for more information after just driving by the house. It also gives the locals a chance to put the word out about your selling. Finally, we attach colourful, informative flyers to an info-box on your sign to get interested parties excited about the amazing features inside & letting them know how to get in touch.
  6. Is a public open house really necessary or effective?We recommend it! We have definitely seen deals come through from interested parties who attended the open house. While an open house alone is an insufficient marketing strategy, it’s an important part of the overall marketing plan – generating a buzz of interest over the property and minimizing hassle to you by giving everyone a concentrated opportunity to visit your home.
  7. Can I restrict showings to meet my schedule?Of course – with one caveat: your home will typically be on the market for less than one week prior to considering offers, so you don’t want to make it too difficult for prospective buyers to make an appointment to see your home. A common restriction is ‘no showings after 9 pm’. You can also request a certain amount of notice prior to showings so you can adjust your schedule accordingly.
  8. Is it safe to have a lockbox on my house during showings?Access via lockbox is certainly the industry standard and allows prospective buyers to easily see your home. The code to your lockbox is only released by our office to real estate agents and skilled professionals we have worked with for a long time (i.e. home inspectors, photographers etc.) to minimize any risk to you. Prospective buyers are always accompanied by their agents and do not have direct access to your home!
  9. If my house doesn’t sell within a specified time, can I take it off the market and put it back on later?Yes! While all our efforts are geared to a quick, smooth sale, that doesn’t always happen. If your desired price is not achieved or you change your mind for any reason, let us know and we can suspend or cancel our listing agreement and re-list the house at a strategic time.
  10. Why is the period between listing and offers so short?Good question! In today’s market, sellers often choose to ‘hold back’ offers till a certain date, usually only 5-7 days after it goes on the market. Far from this being insufficient time for buyer to view the property, it actually provides an opportunity for agent inspection, weekend open house(s), and creates a feeling of scarcity and call to action for buyers who must put in an offer by a certain date or lose out. It works!
  11. If the buyer doesn’t have a certified cheque, should I still accept his offer?Many factors come into play during the negotiations of offers. We will look at the pros & cons of each offer together so you have all the facts to make an informed decision. A certified cheque is not mandatory, so there will be situations where you’ll need to choose between a personal cheque and a certified one. That’s when other factors like price, closing date & conditions will need to be weighed against deposit issues!
  12. Should I consider offers on a certain date or look at them as they come in?We will discuss this depending on your property’s unique situation. More and more it is standard to accept all offers on a certain date rather than looking at them whenever someone makes an offer – buyers may think there is no urgency if they can offer anytime, and thus aren’t as motivated to offer. If a buyer wishes to place an offer before your offer date, we will definitely let you know!
  13. Do you recommend staging my home before putting it on the market?As part of my thorough consultation with you, I’ll recommend certain repairs, fixes and renovations that would make your home more saleable, as well as common-sense prep such as de-cluttering and cleaning. However, we rarely recommend professional staging – it just doesn’t seem necessary in most cases, with the possible exception of some estate or income property sales. We do have a list of recommended stagers that we can provide if you are interested in hiring a stager for your home!
  14. Do I have to spend a lot of $ renovating or can I sell my home as-is?We will recommend certain basic repairs & fixes, along with cleaning, decluttering, and the tradespeople we trust to help you achieve this – but certainly big renovations are beyond many sellers’ desired goals! When pricing your property competitively, I will let you know my expert opinion of what your home’s market value would be if you did the big reno or simply spruced your home up.
  15. What is a pre-sale home inspection, and should I get one?Pre-sale home inspections are becoming more and more common and they help prevent the sale of your home ultimately being conditional on the buyer obtaining his or her own inspection. Basically, you hire an experienced professional home inspector to inspect your home and provide a detailed summary of its condition, including all major interior & exterior systems. The cost to you is about $400 and the inspection is now available to all prospective buyers, affording them great knowledge & peace of mind as there will be no unpleasant secrets after they purchase it.
  16. If my home is for sale with you, how will I know how things are really going?Our mandate is to keep you in the loop on everything that’s going on behind the scenes during the sale process. We follow up with every agent who has showed your property to get their clients’ feedback, as well as reporting to you about the success of the agents’ and public open houses and any phone calls or emails of interest we have received. That way it won’t be a total guessing game as to what’s going to happen on offer night. Statistically speaking, we sell houses significantly faster and for significantly more $ than the TREB average!
  17. Will agents showing my home treat my home with respect?Absolutely. Agents are subject to the Real Estate Council of Ontario’s Code of Ethics designed for your protection, among other rules and regulations. To help further safeguard your home, we will ask you for the showing instructions that are important to you – such as ‘please remove your shoes’ or ‘don’t let the cat out’ and these will be sent to every agent showing your home, and we will place the appropriate signage at the house as a reminder to those showing, to ensure your home’s systems are kept as you’d like them.
  18. Should I be present for showings to show prospective buyers all the special features of my home?We have found that buyers prefer the privacy of being able to see your home and discuss it openly amongst themselves & with their agent, without the pressure of a seller being present. Your home’s amazing features will speak for themselves, along with the detailed, attractive marketing materials we will prepare for you. Any questions the buyers have will go through their agent to us and we will have the added benefit of following up on their interest.
  19. If I price my home high, can’t we always work our way down from there?This is a very common question – unfortunately, the market isn’t based on what you want to net for your home, it’s based on what buyers will pay for it! Pricing high puts you at a definite disadvantage. Those who can’t afford to go that high won’t even see your home on the MLS®; overpriced homes attract significantly less interest, and the longer they stay on the market, the worse the stigma. After reducing your price to fair market value, prospective buyers may now think you are desperate to sell and low-ball an offer significantly lower than what you want to net! All things considered, correct pricing is key to the sale of your home..
  20. What is my home really worth?In my free expert home evaluation, I’ll take several factors into account such as comparable sales in the neighbourhood, similar available & sold properties, and your home’s distinctive features to arrive at an opinion of value supported by data and my knowledge of your neighbourhood. Together we’ll decide on a price in this range of values that will give your home a competitive edge.
  21. What are homes going for in my neighbourhood?Just let us know where you live and we can send you this information – it’s always good to do your homework so you’ll be up to speed on local market developments!
  22. What’s a CVA?A Current Value Assessment is what the Municipal Property Assessment has valued a property at for the purpose of calculating property tax. It may or may not be close to the actual market value of the property.
  23. What is an SPIS?A Seller Property Information Statement is an optional form that sellers can fill out when listing their homes. The seller warrants as to certain information pertaining to their home, such as their knowledge of any structural problems, details on mechanical systems and upgrades etc. If you are interested in a specific property we can let you know if there is an SPIS available and send it to you.

 

Other questions? We’ll be glad to help. Contact me for the answers you need.

MLS

MLS

by | Oct 4, 2012 | Selling

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Pricing Your Home in Windsor Essex

Pricing Your Home in Windsor Essex

by | May 7, 2012 | Selling

Pricing Your Home in Windsor Essex

“A well priced home is essential.”
In many cases homes sell for a price which falls far short of the original asking price.  
Listing a home at an unrealistically high level, is usually not a good idea if you are serious about a sale.  Many people only look at new listings and assume something must be wrong with a home if it has been listed for a long period of time.
On average homes sell within 96% of their asking price in the Windsor Essex County Market. The best way to sell a home is to price it right and have a proper marketing plan. A proper marketing program in place ensures a home is exposed to the highest number of qualified buyers.
Home prices are determined by the marketplace not by your emotional attachment or by what you feel your home is worth. I will work closely with you in establishing a realistic price for your home. They will help you to objectively compare the price, features and condition of all similar homes in both your neighborhood and other similar ones which have sold in recent months. It is also important to be familiar with the terms of each potential sale. Terms are often as important as price in today’s market.
Choosing an agent really comes down to trust. Like all good agents, I have information on past sales, current listings and a marketing plan. For over 18 years I have prided pride myself on having a trusted reputation, as well as working for a company that is know for its high integrity and professionalism.
Pricing Pyramid
Compliments of
Do Your Homework When Choosing a Mover – Windsor Essex Real Estate

Do Your Homework When Choosing a Mover – Windsor Essex Real Estate

by | Apr 3, 2012 | Moving, Selling

Compliments of www.cameronpaine.com

Do your homework when choosing a mover

Family packing for a move
For some consumers, the most daunting aspect of the buying or selling process is the move itself.
Moving is not only labour-intensive, but it can also unleash a range of emotions at a difficult time. If the catalyst for the move is a family death, divorce or other major lifestyle change, a bad moving experience can rub salt in the wound, aggravating an already challenging situation.

Many resources are available to determine whether a mover is reputable. The Canadian Association of Movers (CAM), the Better Business Bureau, and any of the major national van lines (such as Allied, Atlas, Mayflower, North American or United) are all good sources. Also check out the Consumer Beware page through the Ontario Ministry of Consumer Services for movers to avoid.
One of the best tips is to place more weight on reputation than price, says John Levi, president of CAM. With about 350 members across the country, CAM represents Canada’s largest moving companies, many small to mid-sized movers, national van lines, suppliers and many international movers. It also works with government agencies to represent member issues and with consumers to provide referrals and assist with complaints.
“Many people don’t realize that their prime concern should be a having a good moving experience, not getting the cheapest price,” says Levi, who has been with CAM for 16 years.

“The lowest quoted price does not actually guarantee the lowest cost or a good-quality job, he advises.

Consider the value of your possessions as well as the potential cost of loss, damage, tardiness or claims, he says. All of those factors should be weighed to determine the move’s total price tag, and doing some homework before selecting a mover is well worth the time.

Because the moving industry is largely unregulated, Levi warns that choosing a reputable mover is vital in avoiding problems. His organization receives about 150 complaints a year about movers. The most common complaints pertain to overcharging, lateness, damage or loss, but issues also arise with inexperienced crews, poor communication, and failed promises.
To join CAM, a mover must be in business for more than a year, be reputable, and undergo a due diligence and verification process. The association checks out companies through the Better Business Bureau and asks other members to offer a fair opinion on potential members.
Loss or damage claims can end up being drawn out for years, says Levi. Consumers who take steps to do some preliminary research usually avoid claims, he adds.
Many problems are preventable. A good mover should be prepared to answer questions and provide clear expectations about the move for the individual or family. Consumers can spare themselves grief simply by asking potential movers questions such as:
What is your experience with moves like mine? How experienced is your crew? What is the bottom-line price? What is the not-to-exceed price, including all charges and taxes? What happens if loss or damages occur, and how will we be protected?
The most important step, often overlooked, is getting an in-home estimate. “Consumers can get sweet-talked over the phone by a company that claims it can do the job,” says Levi. “Unfortunately, that’s an invitation to disaster. If movers are willing to give you an estimate by phone, don’t hire them. If they can’t see your place or belongings, they have no idea how the move will go.”
An experienced mover will visit the consumer at home and examine furnishings and possessions, give a more reliable estimate, and outline difficulties that might occur during the move, he adds.
Remind your clients that damages sometimes can’t be helped, adds Levi. “There isn’t a mover around who hasn’t scratched, nicked or lost something – it happens,” says Levi. “Moving big objects through small openings means these things sometimes occur, but the crux of the matter is how the mover deals with the issue. A good mover gets the repair done quickly or pays the consumer for loss or damage if the claim is valid.”
Written estimates are vital, he adds. “Make sure that you get the company’s promises in writing,” warns Levi. “If they won’t put it in writing, don’t move with them. It’s as simple as that.”
Sharing these insights (and the tips below) with your clients before they pick a mover can make a world of difference to the outcome. It’s an extra step with the best possible reward – a happy ending.
Do research when choosing a moverJohn Levi, president of the Canadian Association of Movers, says these steps will help consumers to have aPacking for a move positive moving experience.
Pick three – Choose at least three companies and then check them out. Ask questions and check their reputation through available resources (see below) before settling on one.
Match them to the job – Choose a mover with the resources and crew to suit your situation. A large family move across the country and a one-bedroom condo move across town are completely different. Verify the company’s capabilities with CAM, or you may end up paying more than you thought — or learning that your mover can’t do the job and has handed it off to someone else.
Invite them over – Refuse to accept an estimate delivered by phone, fax, text or email from a mover who has not assessed the space in person. An on-site estimate is essential.
Get it in writing – Get every promise made in the moving estimate in writing, along with dates of the move and specifics on what will and won’t be moved, and who will be doing the packing. If you promise to de-clutter and pack, you must follow through or else extra charges may be added.
Book well in advance – After you’ve chosen a reputable company, ensure that the mover has lots of time to meet your expectations.
Schedule with care – Avoid booking a move the same day as a property closing or a popular moving date. Closing dates have their own problems. There may be a deadline to vacate on one side of the move, while keys or titles are not ready on the other. Such delays can mean movers sit and wait at a site, creating extra costs and stress. Avoid the first and last days of the summer months like the plague. These are a mover’s busiest times, and steering clear of those dates will boost your chances of getting an experienced crew.
Be realistic – Damage and loss can happen, although good movers will do their best to prevent or minimize them. Ask questions about company policies on loss and damage and discuss concerns about particular items with them.
For more information – Before hiring or recommending a mover, you can contact the following organizations:

Source: Edge News Letter

Tips for Showing a Home Windsor Real Estate

by | Mar 30, 2012 | Blog, Selling

6 Tips to a Great Home Showings

Compliments of www.cameronpaine.com
When it comes to showing your home to potential home buyers, you want to make sure that they are focused on the home’s potential to become theirs rather than constantly distracting them with outside issues.
The following tips will help showings .

Home Showing Tip  #1

Dont have Family and friends just hanging out
When you decide to sell your home, you really do need to consider how you will show your home. It is definitely unsettling for home buyers to walk through a home only to find that there are kids sleeping in the rooms or someone is frying up a steak as they arrive.
A home showing must be treated like a business transaction and in order to drive a sale, you must behave in a professional manner. Ask family members to look after your kids and make sure that the only people in the home are the ones who will be showing it.

Home Showing Tip #2

Being Present for Showings
You have right to be excited about showing your home to potential hom buyers and you may want to gauge their opinion about your home. But  best if the home owner is not present during showings.
If the home owner is home, people often feel rushed and do not give the home enough time.
By letting the Realtor handle the showing, it gives the buyer time to look around and discuss the home with their Realtor.

Home Showing Tip #3

Knowing  your homes strengths and weaknesses
From the moment home buyers walk toward your home, they are searching for flaws and drawbacks, as most skeptics tend to do. I often find it helpful to do a summary of the strengths of a home and show the value of improvements, as well I can often do a cost analysis of any potential weaknesses ie. cost of a new roof or windows.  If a home needs a major repair, it will be obvious to any buyer. Having a quote before hand can often elimante any fears a buyer might have.

Home Showing Tip # 4

Removing any Odours
Nothing says “don’t buy my house” quite like the smell of wet dog. Add the smell of synthetic roses to the mix, and you might essentially be telling home buyers to run not walk away from your home.
As well, cooking before or during a home visit is not appreciated, as no one wants to leave a home smelling like fried food. Boil some cinnamon in water and keep the scent of your home welcoming and delicate rather than invasive.

Home Showing Tip #5

Temporary removing pets
If possible Pets should not be presetn for showings. If they cannot be removed, ensure they have a place that is away from all the main features of the home ie kitchen, baths bedrooms.

Home Showing Tip #6

A Clean Hoouse
If a home buyer walks into a home and all they can think about is the cleaning up they would have to do if they bought your home, chances are they will not want to buy your home.
You need to make your home sparkling clean and I am not exaggerating when I say that it should be clean enough that people could eat off the floor. If you want home buyers to focus on the potential of the home and not the clutter and grime, clean it and clean it well.