Strategic Sellers Guide 2011


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Strategic Sellers Guide 2011

  1. 1. StrategicSeller’s Guide Everything You Need To Know When Selling Your Home Douglas Barrington* Angela Wood* *Sales Representatives Office Phone: 416 - 445 - 8855 Direct Phone: 416 - 305 - 82341 Keller Williams Referred Realty Inc. *Brokerage Each Office Independently Owned and Operated
  2. 2. The Barrington Team Home Selling Guide What You Will Find in this Guide Meet The Barrington Team…………………………………… 3 What We Do For You…………………………………………... 5 The Home Selling Process……………………………………. 6 A Few Words On Pricing………………………………………. 12 Factors That Don’t Affect The Value Of Your Property……... 15 Activity Versus Time……………………………………………. 16 Which Improvements Add Value To Your Home?.................. 17 Six Simple Steps to Sell For Top Dollar………………………. 18 Representation—You Have A Choice………………………… 21 The Representation relationship………………………………. 22 Getting Your House Ready To Sell……………………………. 23 De-personalize the House……………………………………... 23 Removing Clutter……………………………………………….. 24 Fixing Up the House Interior…………………………………... 26 Fixing Up Outside the House………………………………….. 28 How to prepare for a showing in 20 minutes or less………... 31 Frequently Asked Questions…………………………………... 33 Interviewing a Realtor………………………………………….. 36 Our Guarantee………………………………………………….. 37 Contact & The Barrington Group of Companies…………….. 38 416.445.8855
  3. 3. 416.445.8855
  4. 4. The Barrington Team and Keller Williams Realty® Our Mission is to build relationships worth having; friendships worth nurturing; services worth referring. Our Vision is to be your REALTORS® of choice for life! Who are we: REALTORS® that train, consult and advise our clients; that protect the interest and confidence entrusted in us by our many clients; and place those interests above all other parties, including our own. Our Goals are to meet and exceed our clients’ goals; to provide service our clients would want to refer to their family and friends; and, to participate in an enjoyable and mutually beneficial real estate transaction. Our Belief is that real estate is driven by developing a relationship built on trust, an exchange of ideas and concerns; and honesty. The Barrington Team VALUES WIN-WIN — or no deal INTEGRITY — do the right thing COMMITMENT— in all things COMMUNICATION—seek first to understand CREATIVITY— ideas before results CUSTOMERS—always come first TEAMWORK— together everyone achieves more TRUST— begins with honesty 416.445.8855
  5. 5. What The Barrington Team Will do for you Selling a home successfully requires experience, time, and resources. Experience From pinpointing an optimal asking price to writing a purchase agreement and negotiating terms of sale, Real Estate transactions are a science. Time Selling a home involves hours of marketing open houses, phone calls and paperwork that you shouldn’t have to worry about. Using our services ensures that there is always a licensed professional to answer your call. We will take care of it all for you. Resources Over the many years we have been in the business, we have developed an extensive network of Realtors that we deal with on a regular and ongoing basis. Our database contains 1000’s of buyers, sellers and investors we have developed relationships with. All of our resources are directed to sell your home- not to sell us! We utilize yard signs, brochures, direct mail and Internet technology to keep your home in front of potential buyers 24 hours a day, 7 days a week. 82% of home sales are the result of Realtors connections Source: National Association of Realtors Selling your home can be a daunting task. We work hard so our clients can enjoy having their homes sold worry-free and profitably. We would love the opportunity to earn your business. 416.445.8855
  6. 6. The Home-Selling Process There are a lot of details to be handled when selling a home. It is our job to streamline the home-sale process for you, ensuring everything is completed as quickly and efficiently as possible. This overview is designed to help you understand the various steps along the way. Preparing for Sale • We will arrange for a professional stager • Conduct “Right Price Analysis” to establish a fair market value of your home • Prepare and complete the listing agreement • Recommend improvements to maximize your home’s value • Place a lock box on your property Marketing your Home (not limited to) • Marketing your home to its best advantage to the 30,000 Plus Realtors of Toronto, Oakville, Milton, Burlington and Hamilton Real estate Boards via the MLS system • Place “For Sale” sign on your property • Schedule your home for MLS tour • Notify the top 200 local Realtors of this new listing • Post your home information on the Internet • Schedule and hold VIP & Public Open Houses • Deliver Open House invitations to homeowners in the neighbourhood • Notify all potential buyers with details of the listing • Flash presentation to other Realtors and prospective buyers • Provide an info box on For Sale sign • Arrange showings for other Realtors AND MORE Customized Marketing Proposal & Portfolio available upon request 416.445.8855
  7. 7. The Home-Selling Process Communicating with You • Personal Web access to communication /activity log • Contact you regularly with feedback • Prepare and deliver regular progress reports to you • Discuss all marketing activities with you Coordinating the Sale • Pre-Qualify all potential buyers • Present and discuss all offers with you • Negotiate your transaction with the other Realtor • Prepare and finalize the completion/closing Other Ways We Can Help • Arrange for a Realtor to assist you in your relocation • Recommend a moving company • Provide you with a helpful moving checklist • Recommend preferred companies for related services We will work hard to make the sale of your home as smooth and stress-free as possible! 416.445.8855
  8. 8. The Home-Selling Process Pre-Listing Activities MARKET RESEARCH The only way to accurately price a property for sale is to know the competition. Most Realtors® will simply review properties in the Multiple Listing Service without actually viewing the properties to determine a fair market value for your property. Property features and conditions vary greatly, and it is imperative to physically view all of your potential competition. Our team does this before we meet with you to recommend the ideal list price. We also continually study local trends in our economy that may influence our real estate market, and therefore the salability of your property. PRESENT LISTING PACKET AND COMPARATIVE MARKET ANALYSIS (CMA) We will review all information contained in the Seller’s Guide and promptly address any questions, suggestions, and concerns you may have about listing your property for sale. We will also review our CMA, which includes not only properties for sale, but also pending, expired, or sold listings that are comparable to your property from the past 6 to 12 months. DETERMINE HIGHEST MARKET VALUE FOR PROPERTY After reviewing the Right Price Analysis & CMA together, we will determine the highest market value for your property. You may or may not decide to list your property for the highest market value, depending on your sales objectives. We want to list your property in the market, not above the market. DETERMINE SALES OBJECTIVES We will determine how much profit you wish to make from the sale of your property, and also determine when you want or need to move. We cannot meet your sales objectives if you do not share them with us. We are working as a team to get the highest price possible in a time frame that works best for you. COMPLETE LISTING AGREEMENT AND MLS DATASHEET Once you are comfortable with our listing process and together we have determined the right list price for your property, we will review and complete the listing agreement. The listing agreement is a standard contract that all members of the Realtor Association use when listing homes for 8 416.445.8855
  9. 9. The Home-Selling Process Pre-Listing Activities HOME STAGING CONSULTATION Staging your for sale is one of the most important ingredients to a timely and well-priced offer. Start by completing the recommended tasks to prepare your home for sale in this booklet. Additionally, we will walk through your home with you to provide recommendations for Improvements. We help many families buy and sell homes each year, so we know what sells and what doesn’t. PLACE SIGN POST AND SIGN IN YARD We will place a for sale sign in your yard with an attached flyer box. We provide a phone num- ber for interested buyers that is answered 7 days a week, 24 hours a day. It is important to keep this sign in clear view for “drive-by” buyers. We receive multiple inquiries from buyers due to our for sale signs, so you wouldn’t want to block it with a parked car. PLACE LOCKBOX ON HOUSE The best way to sell your home is to make it as easy as possible for other agents to show. By placing a key to your home in a lockbox on your house, we are able to offer convenient entry for Realtors® with potential buyers and we will track who enters your home and at what time, thus enhancing security. Listings that are available for showing “by appointment only” receive on average 75% fewer showings. COMPLETE SELLER’S HOMEWORK In the prelisting packet, there are several forms that need to be completed to start the sale process of your property. They include many forms and the Seller’s Document checklist. COMPLETE PROPERTY PROFILE The Barrington Team Listing Specialist will tour your property and make note of the most effective ways to market the property. They will gather detailed information to include in the MLS listing. PHOTOGRAPH PROPERTY FOR FLYERS, INTERNET, AND VIRTUAL TOURS Because over 80% of buyers now use the Internet to begin their new property search, we believe it is imperative to have a high-quality virtual tour of your property available online. We will visit your property to take still photographs and potentially 3 to 5 panoramic shots if possible to enhance our marketing. If there are any particular views that you would like to have included in the photography, please be sure to notify us before the photographs are taken. 416.445.8855
  10. 10. The Home-Selling Process Listing Activities CREATE FLYERS We create interior color feature booklets and exterior black and white flyers that will be made available for potential buyers. We appreciate your input for the content of these feature booklets & flyers, as you know your property better than anyone. Also, upon request, we are happy to provide a PDF proof via e-mail for your approval. SHOWING FEEDBACK When we receive notification that an Realtor® would like to show your property we con- tact them immediately to sell the highlights of your home. Once a Realtor® has shown your property for sale, we immediately call that Realtor® to retrieve showing feedback. If we do not reach them, we email and call until we reach them to obtain valuable feed- back which we pass on to you as the seller. Providing you with this feedback help deter- mine if the property needs additional updating on its overall presentation and will enable us to better determine where we stand in the current market value of your property as perceived by other Realtors® and buyers. SHOW LISTING ON PROPERTY TOUR & HOLD A REALTOR® OPEN HOUSE Some parts of the city and the surrounding areas have a property tours for local Real Estate firms. This gives us an opportunity to show your property to a host of other Realtors® who represent other qualified buyers on a daily basis. STATUS REPORTS The Barrington Team and our client care-manager will keep you up to date regularly with verbal and e-mail status reports throughout the listing process. You will be notified of any feedback from Realtor® showings , and you will receive periodic statistical reports detailing how many people have shown an interest in your property through the Web and other venues. In addition, we will also keep you abreast of changes in the market that may affect the sale of your property. Marketing Activities by The Barrington Team are Included in the Supplemental Marketing Package & reviewed during the consultation appointment. 416.445.8855
  11. 11. The Home-Selling Process Property Marketing Plan and Timeline The Barrington Team has proven their marketing process generates results! Our refined strategies and processes are designed to sell your property fast and for top dollar. Countless details must be completed to successfully get your property on the market for sale. Our experience has taught us that it is best to have 10 days from the time you sign the listing agreement to the time your property is fully marketed. This period allows us to properly pre-market your property by targeting potential buyers before it even hits the MLS! Our ideal marketing timeline is as follows: 416.445.8855
  12. 12. The A Few Words on Pricing Do NOT list with the Realtor who suggests the highest price. Consumer Reports, stated... “Expect the agent to suggest a price range, but don’t let that frame you in. Be aware that some devious Agents will, at first, suggest a very handsome price. Then, after they have the listing and the house hasn’t sold, they’ll come back with a pitch to lower the price.” If you bought IBM stock five years ago and wanted to sell it today, would you call your stockbroker and tell them that you insisted on selling at a 200 percent profit or would you ask them to tell you what the market price is? This is the same principle with our... “Right Price Analysis” on your home. We prepare a thorough, well-researched computerized “Right Price Analysis” on every listing. As a result, we sell our listings at very close to asking price. It’s just part of the service we provide. 416.445.8855
  13. 13. Factors that DON’T Affect the VALUE of Your Property The value of your property is determined by What a BUYER is willing to pay in today’s market Based on comparing your property to others SOLD in your area. Buyers ALWAYS Determine Value and Selling Price! 416.445.8855
  14. 14. The A Few Words on Pricing Factors That Affect the Value of Your Property Multiple factors influence the real estate market and, more specifically, the fair market value of your property. A buyer wants to get the best possible price and terms when buying your property while you, the seller, want to get the best possible price and terms from the buyer. Location — Is your property in a desirable location? Is your property situated near high power lines, railroad tracks, or other undesirable objects? Competition — What are other comparable homes in the area selling for? We will evaluate active, pending, sold, and expired listings from the past 6 to 12 months. Supply and Demand — How many homes are available for sale in your area and in your price range? If there are many, you will need to lower your price to attract a buyer. If there are few, you can likely raise the price and still find a buyer. A selling strategy matters depending on your objectives. Mortgage Market — What are the current mortgage interest rates? Economy — Is the economy strong or in a recession? Condition — Have you kept your property in good condition? Is it in move-in condition for a potential buyer, or will they need to make repairs or replacements before moving in? Style — Does your home have a livable floor plan that flows easily? Does it seem open and airy or choppy and dark? There is a happy medium, and our Right Price Analysis (CMA) defines this middle ground. It is crucial not to overprice your property. The Analysis that we have prepared for you will help to determine the list price that will allow you to sell your property for top dollar without pushing yourself out of the market. 416.445.8855
  15. 15. The A Few Words on Pricing Dangers of Overpricing The number one goal in pricing your property for sale is pricing it right from the begin- ning. This will get you the best price in a reasonable amount of time. A property that is priced right when it first goes on the market is shown 50% more often than one that is overpriced. A new listing is exciting, is shown more than older listings, and generally sells for a higher price than older listings. Properties that are priced too high when they are first introduced to the market attract fewer buyers, fewer showings, and fewer offers. 416.445.8855
  16. 16. The A Few Words on Pricing HOW MUCH IS YOUR PROPERTY WORTH? Only as much as a buyer is willing to pay. Correctly priced properties sell faster and at a higher price. Please keep in mind that unless a buyer is paying all cash, a property must be able to appraise for the sale price. A lender will not loan money on a property that is over the market value for an area when compared to similar homes. SOME SELLERS’ APPROACH: “We want to price high, because buyers can always make a lower offer.” In many mar- kets, 30% of overpriced homes do sell the first time and 70% don’t. Even though you may not have to sell, remember that you are competing with sellers who do! SELL FOR TOP DOLLAR If your goal is to sell your property at top dollar, overpricing will work against you. If your property sits for months on the market, it will likely sell below market value. A price ad- justment should be made if your property is not sold within 30 days. Activity Versus Time Timing is extremely important in the Real Estate Market. A property attracts the most activity from the Real Estate community and potential buyers when it is first 16 416.445.8855
  17. 17. Home Improvement vs. Value Added Which Improvements Add Value To Your Home? What follows are “best estimates” for the most typically consistent remodeling projects we have seen across Canada. Unless otherwise noted, the maximum time between remodeling and re-sale must be five VALUE PROJECT COST ADDED COMMENTS Cost includes:new cabinets, countertops and Kitchen Low: $25,000 80 to re-wiring: structural changes, relocated plumbing, High: $60,000-up 110% custom cabinetry, and top-of-the line appliances. Cost includes: new fixtures and fittings, tile floors and Bathroom Low: $8,000 80 to walls, structural changes, and relocated plumbing. High: $30,000-up 115% High-end materials and fixtures raise the cost. Note: adding a second bath can yield more than 100% resale value. Depends on type of room:a family room or new Room Addition Low: $30,000 50 to master suite (don’t forget to include cost of bath) High: $50,000-up 110% will add much more value to a home than a private office or fourth bedroom. Cost assumes no structural changes and no new Converting an attic, Low: $10,000 25 to 40% plumbing; value added depends on size of house basement High: $15,000-up (smaller house, more value) and type of space or garage to created (family room or bedroom, more value than a game room or exercise area). living space The warmer the climate, the more value added; Adding a deck Low: $5,000 40 to 60% size of deck, complexity of design, and added High: $10,000-up amenities (spa, trelliswork) influence cost. Assumes old exterior was worn and repainting Re-painted exterior Low: $2000 40 to 60% was done immediately prior to putting house on High: $4,500-up the market: a new coat of paint probably adds the “best profit” to selling an older home. Cost assumes an average-size pool (16’ x 32’) In-ground Low: $30,000 0 to 25% in a rectangular shape; value added depends swimming pool on desirability to future owner (banks usually do not include pools in mortgage appraisals). Source: Home Remodeling 17 416.445.8855
  18. 18. Six Simple Steps You Can Take To Ensure Your Home Sells At Top Dollar Step 1: Pricing It is very important to price your property at a competitive market value right when you list it. The market is so competitive that even over-pricing by a few thousand dollars can mean that your house will not sell. It’s interesting, but your first offer is usually your best offer. Here are reasons for pricing your property at the market value right from the start in order to net you the most amount of money in the shortest amount of time. An overpriced home: • Minimizes Offers • Lowers Showings • Lowers Realtor Response • Limits Financing • Limits Qualified Buyers • Nets Less for the Seller Advantages of a Properly Priced home: • Faster Sale • Less Inconvenience • Increased Salesperson Response • Means MORE Money To Sellers • Better Response From Advertising and Sign Calls • Attracts “Cleaner” Financing • Attracts higher Offers • Avoids being “Shopworn” 80% of the marketing is done when we decide on what price to list your home. If you are unwilling to list at current market value, you would be better off not putting it on the market at this 18 416.445.8855
  19. 19. Six Simple Steps You Can Take To Ensure Your Home Sells At Top Dollar Step 2: Cleanliness Most people are turned off by even the smallest amount of dirt, dust, or odour when buying a home. Sellers lose thousands of dollars because they do not adequately clean. If your house is squeaky clean, you will be able to sell your home faster and net hundreds, if not thousands of dollars more. Step 3: Easy Access Top selling Realtors® will not show your home if both the key and access are not readily available. They do not have time to run around the city, picking up and dropping off keys. They want to sell homes! The greatest way to show a house is to have a lockbox accessible to Realtors® . As one of our listings, we ask that you allow each Realtor® who shows your home to use the convenient lockbox to enter your home. This allows The Barrington Team to keep track of who shows the home, how many times it’s shown, and who to send “feedback forms” to. This includes Realtors® who arrive to an open house, those who do pre-visit Inspections before a showing, or a follow-up visit. The great news for you is that you never need to adjust your schedule to let anyone in your home! Step 4: Showtime When your home is being shown, please do the following: Keep all lights on Keep all drapes and shutters open Keep all doors unlocked Leave soft music 19 416.445.8855
  20. 20. Six Simple Steps You Can Take To Ensure Your Home Sells At Top Dollar Showtime Cont’d Take a short excursion with your family & pets • Exclusive to The Barrington Team “showing beacon” Let the buyer be at ease and let the Realtors® do their job You will receive feedback shortly after each showing using an automated system with important details about how the buyer(s) and their Realtors® perceived your home. Step 5: Paint and Carpet Paint is your best improvement for getting a high return on your investment. Paint makes the whole house smell clean and neat. If your home has chipped or faded paint, exposed wood or stains, it’s time to paint. If your carpet is worn, dirty, outdated, or an unusual colour, you may need to seriously consider replacing it. Many houses do not sell for these reasons. Don’t think that buyers have more money than you have to replace carpet. They don’t. They simply buy elsewhere. Step 6: Curb Appeal Your front yard immediately reflects the inside condition of your home to the buyer. People enjoy their yards. Make certain that the trees are pruned so that the house can be seen from the street. Have the grass mowed, trimmed and edged. Walkways should be swept. Clear away debris. Remove parked cars. These things, combined, add curb appeal. If a Buyer does not like the outside, they may not even stop to see the inside. 416.445.8855
  21. 21. Representation You Have a Choice Who Represents Who? Seller Multiple Buyer Representing the best Occasionally a brokerage Representing the best interests of the seller. will represent both the interests of the buyer. Created through a buyer & seller with Created through a Listing Agreement. consent, and must do Buyer Agreement. what is best for both the buyer and seller. Customer Service Provide services without creating a representation, as set out in a Customer Service Agreement. In all relationships, we have a duty to act fairly and honestly to both the Buyer and the Seller. The Code of Ethics administered by the Real Estate Council of Ontario requires REALTORS® to disclose in writing the service they are 416.445.8855 21
  22. 22. Representation (cont’d) Relationship This relationship occurs when a Real Estate Broker, is introduced, through one of his or her salespersons, to a potential client (Principal) A Representation Relationship is formed in many ways, but the most common is through the completion of a listing agreement or a buyer representation agreement. Once the Representation has been established, The Broker, as a matter of law, owes the Principal certain duties: 1) Good Faith and Full Disclosure 2) Competence 3) Obedience 4) Accounting 5) Confidentiality 6) Loyalty The Brochure “Working with a REALTOR” fully defines Representation in all of its forms pertaining to Real Estate. Please take the time to read this pamphlet in its entirety. Representation has many benefits that are clearly explained within. To read & understand more please refer to the Appendix in this manual for all forms related to Representation and service. If you have any further questions, simply contact The Barrington 22 416.445.8855
  23. 23. Getting Your Home Ready to Sell Introduction - Emotion vs. Reason When conversing with Realtors®, you will often find that when they talk to you about buying Real Estate, they will refer to your purchase as a "home." Yet, if you are selling property, they will often refer to it as a "house." There is a reason for this. Buying Real Estate is often an emo- tional decision, but when selling Real Estate you need to remove emotion from the equation. You need to think of your house as a marketable commodity. Property. Real Estate. Your goal is to get others to see it as their poten- tial home, not yours. If you do not consciously make this decision, you can inadvertently create a situation where it takes longer to sell your property. The first step in getting your home ready to sell is to "de-personalize" it. De-personalize the House The reason you want to "de-personalize" your home is because you want buyers to view it as their potential home. When a potential homebuyer sees your family photos hanging on the wall, it puts your own brand on the home and momentarily shatters their illusions about owning the house. Therefore, put away family photos, sports trophies, collectible items, knick- knacks, and souvenirs. Put them in a box. Rent a storage area for a few months and put the box in the storage unit. We can help you with this. Do not just put the box in the attic, basement, garage or a closet. Part of preparing a house for sale is to remove "clutter," and that is the next 23 416.445.8855
  24. 24. Getting Your Home Ready to Sell Removing Clutter Though You May Not Think of it as Clutter This is the hardest thing for most people to do because they are emotionally attached to everything in the house. After years of living in the same home, clutter collects in such a way that may not be evident to the homeowner. However, it does affect the way buyers see the home, even if you do not realize it. Clutter collects on shelves, counter tops, in drawers, closets, garages, attics, basements, and in the backyard. Take a step back and pretend you are a buyer. Let a friend help point out areas of clutter, as long as you can accept their views without getting defensive. Let your Realtor® help you too. Kitchen Clutter The kitchen is a good place to start removing clutter, because it is an easy place to start. First, get everything off the counters. Everything. Even the toaster. Put the toaster in a cabinet and take it out when you use it. Find a place where you can store everything in cabinets and drawers. Of course, you may notice that you do not have cabinet space to hide everything. Clean them out. The dishes, pots and pans that rarely get used? Put them in a box and put that box in storage too. You see, homebuyers will open all your cabinets and drawers, especially in the kitchen. They want to be sure there is enough room for their "stuff." If your kitchen cabinets, pantries, and drawers look jammed full, it sends a negative message to the buyer and does not promote an image of plentiful storage space. The best way to do that is to have as much "empty space" as possible. If you have a rarely used crock pot, put it in storage. Do this with every cabinet and drawer. Create open 24 416.445.8855
  25. 25. Getting Your Home Ready to Sell If you have a large amount of foodstuffs crammed into the shelves or pantry, begin using them, especially canned goods. Canned goods are heavy and you don’t want to be lugging them to a new house, or paying a mover to do so. Let what you have on the shelves determine your menus and use up as much as you can. Beneath the sink is critical, too. Make sure the area beneath the sink is as empty as possi- ble, removing all extra cleaning supplies. You should scrub the area down as well, and de- termine if there are any tell-tale signs of water leaks that may cause a homebuyer to hesi- tate in buying your home. Closet Clutter Closets are great for accumulating clutter, though you may not think of it as clutter. We are talking about extra clothes and shoes – things you rarely wear but cannot bear to be without. Do without these items for a couple of months by putting them in a box, because these items can make your closets look "crammed full." Sometimes, there are shoeboxes full of "stuff" or other accumulated personal items, too. Furniture Clutter Many people have too much furniture in certain rooms – not too much for your own personal living needs – but too much to give the illusion of space that a homebuyer would like to see. You may want to tour some builders’ models to see how they place furniture in their model homes. Observe how they place furniture in the models so you get some ideas on what to remove and what to leave in your house. Storage Area Clutter Basements, garages, attics, and sheds accumulate not only clutter, but junk. These areas should be as empty as possible so that buyers can imagine what they would do with the space. Remove anything that is not essential and take it to the storage area. Or have a garage sale. 416.445.8855
  26. 26. Getting Your Home Ready to Sell Fixing Up the House Interior Plumbing and Fixtures All your sink fixtures should look shiny and new. If this cannot be accomplished by cleaning, buy new ones where needed. If you don’t buy something fancy, this can be accomplished inexpensively and they are fairly easy to install. Make sure all the hot and cold water knobs are easy to turn and that the faucets do not leak. If they do, replace the washers. It is not difficult at all. Check to make sure you have good water pressure and that there are no stains on any of the porcelain. If you have a difficult stain to remove, one trick is to hire a cleaning crew to go through and clean your home on a one-time basis. They seem to be wonderful at making stains disappear. Ceilings, Walls and Painting Check all the ceilings for water stains. Sometimes, old leaks leave stains, even after you have repaired the leak. Of course, if you do have a leak, you will have to get it repaired, whether it is a plumbing problem or the roof leaks. You should do the same for walls, looking for not only stains, but also areas where dirt has accumulated and you just may not have noticed. Plus, you may have an outdated colour scheme. Painting can be your best investment when selling your home. It is not a very expensive operation and often you can do it yourself. Do not choose colours based on your own preferences, but based on what would appeal to the widest possible number of buyers. You should almost always choose an off-white colour because white helps your rooms appear bright and 26 416.445.8855
  27. 27. Getting Your Home Ready to Sell Carpet and Flooring Unless your carpet appears old and worn, or it is definitely an outdated style or colour, you probably should do nothing more than hire a good carpet cleaner. If you do choose to replace it, do so with something inexpensive in a neutral colour. Repair or replace broken floor tiles, but do not spend a lot of money on anything. Remember, you are not fixing up the place for yourself. You want to move. Your goal is simply to give as few negative impressions as possible to those who may want to purchase your property. Windows and Doors Check all of your windows to make sure they open and close easily. If not, a spray of WD40 often helps. Make sure there are no cracked or broken windowpanes. If there are, replace them before you begin showing your home. Do the same things with the doors – make sure they open and close properly, without creaking. If they do not, a shot of WD40 on the hinges usually makes the creak go away. Be sure the doorknobs turn easily, and that they are cleaned and polished to look sharp. As buyers go from room to room, someone opens each door and you want to do everything necessary to create a positive impression. Odour Control For those who smoke, you might want to minimize smoking indoors while trying to sell your home. You could also pur- chase an air cleaner that helps to remove odours without creating a masking odour. Pets of all kinds create odours that you may have become used to, but are immediately noticeable to visitors. For those with cats, be sure to empty kitty litter boxes daily. There are also products that you can sprinkle in a layer below the kitty litter that helps to control odour. For those with dogs, keep the dog outdoors as much as possible. You might also try sprinkling carpet freshener on the carpet on a periodic basis. 416.445.8855
  28. 28. Getting Your Home Ready to Sell Note: Costs of Repairs Do not do anything expensive, such as remodelling. If possible, use savings to pay for any repairs and improvements – do not go charging up credit cards or obtaining new loans. Remember that part of selling a house is also preparing to buy your next home. You do not want to do anything that will affect your credit scores or hurt your ability to qualify for your next mortgage. Fixing Up Outside the House Most Real Estate advice tells you to work on the interior of the house first, but unless there is a major project involved, we believe it is best to do it last. There are two reasons for this: first, the exterior is more important. A homebuyer’s first impression of a home is based on his or her reaction to the house from the Realtors® car. The second reason is because preparing the interior of the house is easier. Looking objectively at the exterior of your house can help you develop the proper mindset required for selling, which is beginning to think of your home as a marketable commodity. So take a walk across the street and take a good look at your house. Look at nearby houses, too, and see how your home compares. Landscaping Is your landscaping at least average for the neighbourhood? If it is not, buy a few bushes and plant them. Do not put in trees. Mature trees are expensive, and you will not get back your investment. Also, immature trees do not really add much to the appearance value of the home. If you have an area for flowers, buy mature colourful flowers and plant them. They add a splash of vibrancy and colour, creating a favourable first impression. Do not buy bulbs or seeds and plant them. They will not mature fast enough to create the desired effect and you certainly don’t want a patch of brown earth for homebuyers to 28 416.445.8855
  29. 29. Getting Your Home Ready to Sell Your lawn should be evenly cut, freshly edged, well watered, and free of brown spots. If there are problems with your lawn, you should probably take care of them before working on the inside of your home. This is because certain areas may need re-sodding, and you want to give it a chance to grow so that re-sod areas are not immediately apparent. Plus, you might want to give fertilizer enough time to be effective. Always rake up loose leaves and grass cuttings. House Exterior The big decision is whether to paint or not to paint. When you look at your house from across the street, does it look tired and faded? If so, a paint job may be in order. It is often a very good investment and really spruces up the appearance of a house, often adding many dollars to offers from potential homebuyers. When choosing a colour, it should not be something unusual, but a colour that fits well in your neighbourhood. Of course, the colour also depends on the style of your house. For some reason, different shades of yellow seem to elicit the best re- sponse in homebuyers, whether it is in the trim or the basic colour of the house. As for the roof, if you know your house has an old leaky roof, replace it. If you do not replace a leaky roof, you are going to have to disclose it and the buyer will want a new roof anyway. Otherwise, wait and see what the home inspector says. Why spend money unnecessarily? The Back Yard The backyard should be tidy. If you have a pool or spa, keep it freshly maintained and constantly cleaned. For those that have dogs, be sure to constantly keep the area clear of "debris." If you have swing sets or anything elaborate for your kids, it probably makes more sense to remove them than to leave them in place. They take up room, and you want your back yard to appear as spacious as possible, especially in newer homes where the yards are not as large. 416.445.8855
  30. 30. Getting Your Home Ready to Sell The Front Door & Entryway The front door should be especially sharp, since it is the entryway into the house. Polish the door fixture so it gleams. If the door needs refinishing or repainting, make sure to get that done. If you have a cute little plaque or shingle with your family name on it, remove it. Even if it is just on the mailbox. You can always put it up again once you move. Get a new plush door mat, too. This is something else you can take with you once you move. Make sure the lock works easily and the key fits properly. When a homebuyer comes to visit your home, the Realtor® uses the key from the lock box to unlock the door. If there is trouble working the lock while everyone else stands around twiddling their thumbs, this sends a negative first impression to prospective 416.445.8855 30
  31. 31. How to Prepare for a Showing in 20 Minutes or Less… 1. Put Dishes in Dishwasher (or Wash) 2. Make all the Beds 3. Wipe the Counters 4. Empty the Garbage 5. Run a quick Vacuum 6. Take a Deep Breath 7. Hide Dirty Clothes in Washer 8. Turn on all Lights 9. Leave the House before the Showing 10. SMILE. You did it! 416.445.8855
  32. 32. The Home Selling Checklist 24 Simple Things to Make Your Home More MarketableINTERIOR Have carpets cleaned and re-stretched or replace if worn or dated. Clean or have house cleaned (top to bottom, baseboards and ceiling fans). Pack away all small collections and jewelry; “little hands” have taking ways. Put out the “oil” air fresheners in entry, kitchen and bathrooms the day it’s going on the market. Wash windows inside and out (home will look newer and cleaner). Arrange all closets to be presentable. Fix all minor repairs, nail holes and touch up paint. Touch up all painted trim where needed. Replace all burned out light bulbs! Use a higher wattage in rooms with only one light fixture. Brasso/polish all doorknobs and hardware in all rooms (an absolute must for older homes!). If you have brass fixtures, it’s worth the investment to replace them. Leave out some family photos. This suggests “a happy and loved home,” not “we can’t wait to leave this house!” Remove stuffed trophy heads and/or animal collections of any kind. It’s a PC thing, and it “themes” your home… you don’t want buyers referring to your home as “The Cow House!” Limit toys to one toy box and pack the rest away. If you don’t have enough room to put them all away, the buyers will see that they won’t have room either (this also makes picking up for showings much faster). Put away any boxes. The only things that should be on the floor is furniture!KITCHEN Remove all kitchen appliances not used daily and only leave the functional kitchen décor items out. Keep all food items off the counter and off the top of the refrigerator. Remove all magnets and papers from the front of the refrigerator and move only what you “can’t live without” to the side of the refrigerator. This will make the kitchen feel bigger. Replace old stove drip pans, and for older stoves, add new burner covers; it helps it look newer.BATH Put all loose stuff on bathroom countertops under the sink for easy use. Only leave out the pretties! Everything else must go under the sink cabinets; this gives the appearance of more storage. Remember to wipe down the mir- rors; it doubles everything good and bad!EXTERIOR Remove solar screens from the front of home; dark screens make a home seem unfriendly and cold. Place the screens in eye view in the garage so the buyer will see them. Plant flowers in pots outside by the front door and along sidewalks and landscaping beds, if needed. Freshen mulch in landscape beds. Power wash patios, walkways, front entry and driveway.GARAGE Clean out the garage & remove all the “extras”. Leave only tools, lawn equipment, bikes & cars. It’s key to show that at least one car does fit in the garage. If both sides of the garage are full, rent a mini-storage to put all the extra stuff that is to be removed from the house and garage. If the house and garage are stuffed full they will assume you’re moving because the house is too small!WARNING PETS: They should go with you for all showings. If it isn’t possible and you are gone during the day, consider a crate, kennel or dog run while the house in on the market. Over 50% of buyers are allergic, dislike, or are afraid of pets. This is the #1 reason buyers won’t buy or even enter a home with a pet! SMOKERS: Over 75% of buyers will not buy a home that they think has been smoked in! Two reasons: one, for PC reasons and two, allergies. Freshly painting the entire interior and new carpeting are your best chance for top dollar! Plus, do not smoke in the home while on the market, and remove any ashtrays or other signs of smoke. A home that has been smoked in is the #2 leading reason why buyers don’t buy. 416.445.8855
  33. 33. Frequently Asked Questions (FAQ’s) Are there things we should do to our home to help ensure the maximum price? Yes. There is a benefit to making sure your home looks its best prior to offering it for sale. There are also small remodelling jobs that will pay off at resale. The Barrington Team can advise you about specific improvements that will increase your homes marketability and value. How often will you advertise our property? The Barrington Team doesnt just list homes; We market them. We will make sure your home is marketed to potential buyers around the clock, 24 hours a day, 7 days a week. We will customize a mar- keting plan to reach the types of buyers most likely to purchase your home. We know how to maximize the power of the Internet for our clients, while also using traditional methods including brochures, yard signs and direct mail. Will you be present at all showings? At open houses we, or a member of our team, will be there. For showings, potential buyers will bring their own REALTORS® to see your home. Most buyers prefer only their own REALTOR® be present when evaluating a prospective new home. What if another REALTOR® tells us they can get us more for the house? Some REALTORS® will quote a higher listing price just to get your business, but an over- priced house will not sell. If you choose to work with The Barrington Team, we will conduct a comparative “Right Price Analysis” prior to recommending an ask- ing price for your home. We will explain how we arrived at the price, but ultimately the decision is yours. We will offer our professional opinion on how the market will value your home. Do we have any responsibilities during the marketing of our home? Your primary job during the sale of your home is to keep it neat and clean for showings and open houses. A large part of a homes appeal involves staging, which is every- thing from furniture placement to home fragrance. The Barrington Team will advise you on how to stage your home well or we can discuss having a consultation with a Professional Stager, giving you easy tips and quick fixes to maximize your homes appeal. What happens once we get an offer? The Barrington Team will help you consider each offer and negotiate the best terms of the Agreement of Purchase for you. Once youve accepted an offer, we will guide you through the entire completion process and ensure everything proceeds 33 416.445.8855
  34. 34. Let The Barrington Team Help … By Getting To Know You Better: 1. First Home: Yes / No 2. # of Family Members:__________ Approx. Ages ____________________ 3. Pets? Yes / No Type/Breed_____________ How Many?_____________ 4. How Soon Do You Plan on Buying? 0 – 3 months 3 – 6 months 6 months plus 5. What areas are you looking in? _________________________________ 6. Minimum Bedrooms 1 2 3 4 5 (Circle One) 7. Minimum Bathrooms 1 2 3 4 5 (Circle One) 8. Square Footage required Minimum____________ Maximum ____________ 9. Type Detached, Semi, Townhouse, Condo, Loft, Duplex, Triplex 10. Garage Yes / No # of Parking spots______ 11. Pool Yes / No Inground_______ Above Ground________ 12. Fireplace Yes / No Wood Burning________ Gas_______ 13. Yard Yes / No Fenced______ Large_______ Small_______ 14. Public Transit Yes / No 15. Price Range $Minimum ________________ $Maximum ________________ 16. Have you been pre – approved for a mortgage? Yes / No With whom?__________________ $Amount ___________________ 34 416.445.8855
  35. 35. Let The Barrington Team Help … By Getting To Know You Better: (Name) ____________________________________________Birth date:______________ (Spouse Name) _____________________________________Birth date:______________ (Home) __________________________________________________________________ (Work) ___________________________________________________________________ (Cell) ____________________________________________________________________ (Work Spouse) ____________________________________________________________ (Cell Spouse) _____________________________________________________________ (Fax)_____________________________________________________________________ (Email) ___________________________________________________________________ (Email Spouse) ____________________________________________________________ Home Address: Street:____________________________________________________________________ Town/ City: ________________________________________________________________ Province/ State: ______________________ Postal / Zip Code: _______________________ Children: Name:________________________________ Birth date:___________________________ Name:________________________________ Birth date:___________________________ Name:________________________________ Birth date:___________________________ Name:________________________________ Birth date:___________________________ Name:________________________________ Birth date:___________________________ 416.445.8855
  36. 36. Interviewing a REALTOR® Important questions to ask before you sign anything. Do you work as a full-time REALTOR® ? Are you a Registered Real Estate Broker or a Sales Representative? Do you work on your own or as part of a Team? If you do work on your own, what happens if I call you when you are not available? How many Seller clients (listed properties) and Buyer clients do you work with at a time? What is “Multiple Representation” and how do you handle it if it occurs? What percentage of your business is from previous clients and referrals? What written guarantees do you offer with regards to your services? Do you regularly attend professional customer care and skill-enhancing training seminars? Other than the mandatory continuing education courses, what was the last course you took? Can you show me your detailed marketing plan for the critical first 2 weeks that we will be listed? What Internet sites will my property appear on? What other technologies and systems will you use in selling my home? Will my property be exposed to other REALTORS® in the area by way of an MLS Tour or Realtor luncheon? In what other ways will you encourage other REALTORS® to sell my property? How will you communicate the progress of my property selling process? 416.445.8855
  37. 37. info@TheBarringtonTeam.com37 416.445.8855
  38. 38. Contact The Barrington Team The Barrington Team of Keller Williams Referred Realty Inc.* Members of The Barrington Team include Sales Representatives Douglas Barrington & Angela Wood P:416.445.8855 l E: Text/Direct: 416.305.8234 TorontoRealtyNews BarringtonTeam Connect with The Barrington Team TheBarringtonTeam KellerWilliamsRealty AngelaWoodKW The Barrington Team Group of Companies • Residential Thousands of Pre– Construction • Condominiums & New Construction Homes are: • Vacant Land • Managed • Resales • Marketed • Luxury Homes • Staffed • Power of Sale/Foreclosures • ...and ultimately SOLD! • Commercial Real Estate • Corporate Culture Change • Business Opportunities • Sales Productivity Training • Condominium Conversions • High Performance Team Development • Various Large Scale Projects • Executive Coaching • Nonverbal Communication • Leadership Skills Development We have several Ontario office locations to provide you and your family with the ultimate service experience. 416.445.8855