PRICING YOUR HOME

M2. LESSON 1

PRICING YOU HOME

What is the right price?

TWO OF THE BIGGEST MISTAKES FSBOS MAKE IS EITHER PRICING TOO HIGH (USUALLY) OR PRICING TOO LOW (OCCASIONALLY). THIS SECTION WILL HOPEFULLY KEEP YOU FROM MAKING EITHER ONE OF THOSE MISTAKES.

Buyers are more sophisticated than ever before. They come into the transaction knowing as much, or more, about your property than even you — thank you, Google. They also know what your house should sell for and will not pay more. As a matter of fact, many FSBO buyers are looking for a deal.

There’s an adage when it comes to selling your own home. “Two people can’t save the same dollar”. Of course, that’s referring to commissions.

Buyers know you’re not paying commissions to an agent, so they expect to save that money. So do you. Don’t be surprised if offers start at least 10% below your asking price. This is to compensate for the fact that you, the seller, aren’t paying real estate fees. Have your comparables and any other information you have ready to defend your price.

 

 

There are three methods to pricing your home:

1) Have an appraisal done by a real estate appraiser

2) have your home evaluated by a real estate agent

3) arrive at a price using your own methods

 

DETERMINING THE SALE PRICE

The first thing we need to do is check out other houses in your area.

Examine past sales of houses comparable to yours in size, age, condition, and location.

Then, we need determine the state your local market is currently in.

  • Do a google search for “your city real estate forecast [the year]”.
  • Then search “is it a buyers or sellers market in your city [the year]?”
  • From these two searches you will be able to determine the current state of your local market.
  • Now we need to find recent sales of comparable homes in your direct neighbourhood.

On streampsl.com there is a tool you can use called “My Comparables” that will provide you with properties that have features similar to yours. You will be able to see the average sale price, the average sale price per square foot and how close the comparable is to you. Comparables will give you a baseline against which will help you establish a sale price. How similar homes in the area have sold: How much are people willing to pay for a home like yours in your neighbourhood?

Determine the price range and ask a figure as close to the bottom of that range as is comfortable for you.

https://www.honestdoor.com/ is an invaluable resource for this if you happen to live in the following cities: Beaumont, Calgary, Cochrane, Edmonton, Leduc, Red Deer, Sherwood Park, Spruce Grove, St. Albert, and Winnipeg.

Here is a list of the elements that need to be taken into account when pricing:

  • Location, location
  • Type of home
  • Curb appeal, your home looks attractive from the street
  • Year the home was built
  • Number of rooms, bedrooms and bathrooms
  • Square footage of the home
  • Square footage of the lot
  • Heating and cooling systems
  • Number of parking spots
  • Flood zone status
  • Condition of the utility services and fixtures
  • The type of foundation
  • The condition of the attic and basement, heating and air systems, walls, windows and doors
  • Extra amenities, such as a pool, deck or fireplace
  • Any structural improvements or repairs
  • Any additional repairs or improvements are needed
  • The condition of appliances
  • Signs of damage that would compromise the structural soundness of the home
  • How does my home value compare to other homes in my neighbourhood
  • What’s the market temperature? Is it a hot or cold time to sell?
  • Mortgage interest rates
  • Supply and demand

Conducting your comparative market analysis

Once you have researched home sales in your local area, comparing current selling prices with past selling prices, you will be able to document this information and analyze it. Through is type of research you will gain a greater understanding of your local market and how your home is currently positioned.

How similar homes in the area have sold: How much are people willing to pay for a home like yours in your neighbourhood? Are there many foreclosures in your area? This will give you a lot of insight into how desirable your home may be—or how much someone might be willing to pay.”

Employ an “apples to apples” approach. Think about which properties would interest a buyer if yours weren’t available. Look for similar size, location, condition and upgrades. You’ll need to adjust for differences between your house and the comparables, such as adding value to the comparative price if it has more bedrooms than your house or subtracting value if its interior is outdated, for example. After adjusting values, look at your highest and lowest comparables. A rough estimate of your home value would most likely be somewhere in the middle.

Some uncontrollable factors that will affect your home’s final market value:

  • The local economy — in a recession or not
  • Mortgage interest rates — high interest rate will keep some buyers from committing
  • Time of the school year — expect to receive more or fewer offers depending on the time of year
  • Supply and demand — a wave of houses on the market means you have competition. On the other hand, if it is a sellers market, with more buyers than homes for sale, raise your price accordantly

Tips:

When settling on the price, pick an odd number. Everyone asks for $XXX,900, pick $XXX,987 instead.

Use buyer incentives to help you sell faster and help justify you pricing — such as having a professional property inspection completed prior to receiving offers.

It helps to be seen as the bargain! If there are similar properties like yours on the market right now, set your price just below them.

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THE CLOSE

M4. LESSON 4

THE CLOSE

The Final Day

Finally, the day has arrived where all the work pays off.
The day of closing. It is the day when the sale transaction is officially completed.

BRING THE FOLLOWING:

  • A valid drivers license for all parties
  • The deed or grey coloured title to your home — If you own it and have no mortgage
  • Everyone who is named in the deed or on the title as owner MUST be in attendance
  • Receipts that show the utility bills are paid in full

 

 

You will sign a lot of paperwork, including signing the deed or the transfer to the property over to the buyer. Don’t be afraid to ask your lawyer about any documents you don’t understand. You have the right to know what you’re signing.

The closing will take place at the office of your lawyer, title agent or escrow agent. Once all paperwork has been signed and funds have been disbursed, the buyer is officially the new owner of the property.

 

 

Your responsibilities during closing

SECURE YOUR DOCUMENTS

Ideally, your lawyer will hand you a complete package containing all your documents at closing as sometimes these documents can get scattered.

 

CLOSE ALL VALVES, AND TURN OFF ALL SWITCHES

Turn off shut-off valves to sinks, toilets, dishwashers, the water heater, refrigerator and washing machine. Leave a note for the buyers so they won’t call a plumber. Turn off all switches for lights and fans. Some sellers flip all of the circuit breakers to off. This might be overdoing it, but it keeps them from paying for any electricity until the account is switched.

 

CANCEL YOUR INSURANCE POLICIES

Wait until you know the deed has recorded or the title transfer has formally occurred, to call your insurance agent. You should receive a refund of any prepaid premiums for your homeowner’s insurance.

 

CLOSE ACCOUNTS

Cancel the utilities and stop the newspaper. It is also the time that utilities should switch to the new owner and things like landline telephones, cable and internet accounts and the like are turned off.

 

NECESSARY INCIDENTALS

Leave all house keys, remotes, gate keys, pool keys, garage, mailbox, shed keys and remote garage door controllers for the new owner.

The buyers will probably change the locks, but this won’t happen the instant they move in. Put them in a kitchen drawer or other location that is easily found.

Assemble a packet of appliance manuals, receipts, and any warranties as well. You might have come across manuals for the HVAC, security system, sprinkler system, or appliances as you were packing. If you have receipts from contractors, warranties, and termite inspections put them into an envelope and leave them in a drawer as well, along with the manuals and the code for the security alarm.

 

DON’T LEAVE ANYTHING BEHIND

After confirming with your lawyer to make sure the money has changed hands and the title has transferred to the new owner, it’s time to hand over the keys.

There are several ways that this can be done. The lawyers can look after them, you can meet the buyers directly and hand the keys to them or you can put the keys in some form of lockbox and give the buyers the entry code. All of them work well. Your primary job is to make sure you are completely out of the property by the specified time on possession day.

Most buyers’ complaints on closing day centre around the cleanliness of the property or the seller took something the buyer thought was going to stay. You as the seller are required to leave all permanently attached fixtures. A permanently attached fixture is anything that won’t work unless it is plumbed, wired or built into the structure. Unless it has been specified in the contract that “it” will be removed, all permanently attached fixtures must stay. The most common disputes are over appliances. As a general example, fridges, stoves, washers and dryers are not permanently attached and must be stipulated in the contract if they are to stay. A built-in dishwasher stays because it’s “built-in”.

If there are any questions, contact your lawyer for clarification.

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LEADING UP TO CLOSING

M4. LESSON 3

LEADING UP TO CLOSING

The Process of Closing

The process of closing takes average of 50 days and consists of all that happens between the time you accept an offer until the close date, which is the date when ownership of the home is officially transferred to the buyer.

What to expect

  • The close date to most likely chance a few times
  • some issues will for sure arise . . . this is normal and all part of the process

YOUR HOME WILL NEED TO BE ACCESSED BY THE FOLLOWING:

  • Property inspectors
  • Surveyors
  • Buyers real estate agent & the buyers
  • Appraisers
  • Contractors
  • Insurance agents
  • Respond quickly to appointment requests, and allow them access to the property when they need it. This will help prevent delays and move the process forward.
  • The property inspector will most likely find some issues that may need to be repaired or addressed before the close date.
  • In your contract you should have including a maximum amount you are prepared to pay to fix property issues.

To Do Checklist

  • Make sure you pay all your bills ahead of the close date so they don’t interfere or delay.
  • Notify your insurance company of the home sale.
  • Be prepared to takeout extra insurance to cover the property if the close date is delayed.
  • Touch base with your buyer and their agent weekly to make sure everything is in order for the close date.
  • Stay professional and friendly throughout the whole process not mater how frustrated you may feel. Remember delays and issues are normal and all part of the process.

 

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RECEIVING AN OFFER

M4. LESSON 3

OFFERS & CLOSING

You have an offer

An offer from a buyer is the first way that they indicate interest in your home. Then the negotiations start with you returning a counteroffer —unless they are offering your asking price.

It is vital that you know the price you want. While also having two fallback positions in case you are unable to get the price you are aiming for. Only as a last resort would you settle with your minimum price.

It is important to relax and enjoy the process with an opened and clear mind.

What to have in place prior to receiving the offer:

  • Be clear on what is and is not negotiable.
  • Be clear on what is most valuable to you:
    – making the most money you can from the deal
    – the date you close
    – lots of time to move out
    – closing your new house before closing this house
  • Know your homes current listing price displayed on all online platforms and printed material.
  • Be clear on two fallback price positions before reaching the minimum price you will accept.

After receiving and thanking the buyer for their offer, you will need to lead proceedings confidently with the following questions.

  • Price they are offering
  • Deposit amount – demonstrates the offer is serious
  • Approved finance in place
  • Occupancy
  • Contingencies

Repeat the offer back to the buyer so you are clear there are no misunderstandings.

Be prepared to be unsatisfied with the buyers offer, as it is rare that it will meet all your requirements. The buyers may give you some things you want in exchange for demanding others you don’t want to give up. List the pros and cons of the offer so you can see what the trade-offs are. Usually, you will need to meet somewhere in between.

Here’s a list of questions to ask when you receive an offer:

  1. Deposit: How much and who has it? Is it refundable? If it is refundable, how does it become refundable? Is it a serious offer, as evidenced by a sufficient deposit?
  2. Price: What exactly are the buyers offering?
  3. Down payment: Cash, and if not, why not?
  4. Terms: New first loan?
  5. Occupancy: How soon do I have to get out?
  6. Conditions or “Subject To” Clauses: Is there anything that could weaken or kill the deal?

As you go through these questions, be sure you understand the answers that are given to you.

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NEGOTIATING

M4. LESSON 3

NEGOTIATING

Negotiating the Sale of Your Home

The buyers have told you that they want to buy your property. The first step in this process is to write a Letter of Intent. A Letter of Intent is an initial agreement between buyer and seller.

 

HERE ARE A FEW THINGS THAT MUST BE IN YOUR LETTER OF INTENT

> names of the parties involved,

> the date of the contract,

> a specific description of the land involved,

> price

Most of these are straightforward. You should use the buyer’s legal names.

Check with your lawyer as to whether your municipal address will do or if you need to use the legal description. Your legal description can be found on your Municipal Tax Assessment Notice or at Land Titles. Your lawyer should be able to help you with Land Titles if you have difficulties.

If you are asking for a deposit, you should know that deposits are just indicators of good faith and not legally required. If there is a deposit you need to determine who will hold it and if it is refundable. Again, you might ask your lawyer for help with this.

Which leads us to what are called contingencies or conditions or “subject to” clauses. These are usually used by the buyer to protect their deposit if something unforeseen should happen. These conditions may include the buyer having to get a loan, and or an inspection being done, and in the case of a condo, a review of the financials. The conditions state that if the buyer does not get the loan or the inspection is not favourable, they will not buy your house. Discuss this with your lawyer. Not working this out up front could give cause for a major legal battle.

You should also discuss and determine a possession or completion date. This is the day that you provide vacant possession. A specific date and time that you have both agreed to in writing can avoid some major confusion.

 

Understanding Conditions (or subject to) clauses

A condition is an additional clause that buyers (and sometimes the sellers) use to protect themselves by allowing them a way out of a deal.

BE VERY CAREFUL OF CONDITION CLAUSES

  • It is best to have as few conditions as possible in the agreement.
  • Make sure you limit by time and performance the conditions that are included.

 

Below is a list of some common conditions

  • Conditional sale — The buyers will purchase subject to the sale of their present home. This is a very weak offer, because it means the sale of your house depends on the sale of another house with another set of sellers and buyers. Keep clear of this.
  • The buyers will purchase subject to new financing — if they’re already fully pre-approved, there may be little to worry about.
  • The purchase is subject to the buyers’ being able to move into the house within a set period of time.
  • Disclosures/inspections — The buyers will purchase only if they approve your disclosures and their professional inspection. Typically they will ask for a set period of time for this, usually a couple of weeks. You probably can’t sell without this condition. This is why it is recommend that you have your own professional Property Inspection completed beforehand.

 

Evaluate the offer by answering the following questions

  • Are the conditions reasonable?
  • Do the conditions nullify the value of the offer?
  • Can I live with the conditions?

Letter Of Intent Template

 

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OPEN HOUSES & SHOWINGS

M3. LESSON 6

OPEN HOUSES & SHOWINGS

Open Houses & Showings

Showing a home is a bit of an art. You must learn to be friendly and informative without giving away too much information. A bright and beautifully staged home will do most of the selling for you; and if you are friendly and adaptable, your house should not take long to sell.

Buyers are looking to make a connection not only with the house but with you and the neighbourhood. Do not be afraid to talk about your great neighbours, schools and amenities in the area.

People always want to know why you are selling. A great answer is, “We’re buying a bigger/smaller house,” and leave it at that. Something like, “We want to get away from the noisy crows who nests in the big tree out back,” isn’t a really good answer.

Also remember, if you know of any latent defects you are required by law to disclose them to potential buyers at the earliest possible opportunity. This is likely the time.

Interacting directly with buyers can be a very enjoyable.

And when the sale gets serious and it comes to writing up an offer with a buyer, both parties can easily be protected with simple clauses in the contract that indicate that the offer is subject to the approval of both parties’ lawyers.

TIPS

  • Handout FAQ with interesting facts about your home and the surrounding area along with a floor plan
  • Offer cookies, chocolate, bottled water, coffee, tea
  • Ask visitors to sign in and provide you with their name, e-mail address and phone number. The 30 day free trail of the Open House sign in app ‘Spacio’ is invaluable for this — no more unreadable handwriting
  • Let them lead in viewing your home while you point out special features
  • Stand at the door when they are viewing rooms, as you will easily get in the way
  • Being able to confidently share three unique sales features
  • Make sure they leave with a copy of the flyer along with the FAQ info sheet
  • Follow the visit up with a thank you call or email and ask if they questions
  • Have someone else in the home during showings for safety
  • On weekends standard Open House times are 1-3 pm
  • Try 9-11 am or 3-5 pm if there is lots of Open Houses competition
  • Thursdays 6-8 pm works especially well during the summer hours it also gets great foot traffic
  • Any day power hours/happy hours – 5-6, 7-8 pm any day
  • Look for buyers that are prequalified for a mortgage for the asking price amount, otherwise you will waste precious time with unqualified protects
  • If you are really savvy, why not run a Facebook live stream from your Open House
  • Remember that people’s plans change, sometimes very quickly. If the buyer must cancel, be professional about it. It’s not personal

Open House Preparation

Make it welcoming:

  • Turn on all the lights
  • Fluff and arrange the pillows on the beds and couches
  • Add a bowl of fresh fruit in the kitchen
  • Straighten the fresh white towels in the bathroom
  • Vignettes—combine decor items small groupings of furniture and décor are used for adding some visual appeal and in helping to define the purpose and size of a room.
  • Metallic accents—like a silver leather throw pillow, a bronze side table or garden stool, or a copper tray
  • Set the table with modern white modern white plates, sleek stainless-steel cutlery & stemless wine glasses
  • Open all the interior doors to create a tour path
  • Fresh-cut flowers in a modern vase
  • Pay attention to smells—check that your home is smelling fresh
  • Turn the bathroom into a spa—add some scented candles and faux plant
  • Close the toilet
  • Highlight focal points
  • Clean clear counters and sinks
  • Run a diffuser with a universally liked essential oil blend
  • Turn on ambient background music
  • Light the fireplace
  • Open all the blinds
  • Something freshly baked makes a big difference

Dress like this is important.
 Greet your guests at the door and invite them in.
If you like, you can offer them refreshments.
Guide them through the home, remember to stay out of the rooms. You block the view.

TIP

Be Safe. Not everyone is interested in buying your home. Make sure you put valuables away. Keep the buyers together if they come as a group and make sure you have a clear way you can get out easily.

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BUYER’S AGENT INTERACTIONS

M3. LESSON 5

BUYER’S AGENT INTERACTIONS

Working with the buyer’s agent

The buyer’s agent will typically expect to receive 2-3% of the purchase price, otherwise they would not be keen to show your property at all.

Before you share the key lockbox combination with an agent you will need to run their details through this three point check:

– Ask them to text you their website address — check that the website has their full name listed.

– Search their name in the following real estate license check websites

AB: https://reports.myreca.ca/publicsearch.aspx

BC https://www.recbc.ca/about/licensee-search.html

ON https://www.reco.on.ca/RegistrantSearch

 

CHECKLIST

  • Check that the phone number they called you on is the same one listed on their website.
  • Typically the agent will let themselves in and show your home to the buyers while you are not there.
  • Usually the agent will send an agreement for you to sign stating that you agree to pay their commission on the sale of your home.
  • Agree to pay their commission — up to 3%. However if you’re selling price is over $200,000 consider lowering it to 2% or 2.5 %.
  • Make sure it lists the following: buyers first and last names, the exactly buyers agent commission agreed upon, expressed by a percentage, or a specific dollar amount.
  • Sign only for that one client or a specific time period
  • Do not sign a contract that links you to a buyer’s agent for the entire time your home is listed.
  • Accommodate last minute showings whenever possible.

Make sure your Information Sheet, FAQ sheet gets into the hands of buyers and their agents. These handouts will not only inform potential buyers about the specifics of your property but also give them something tangible to take home, ensuring that they’ll remember your listing.

Tip:

Be careful about revealing too much information about your personal circumstances in selling, such as you are needing to sell by a certain date. This would give the agent the impression that you would be flexible on the price and which could be later used against you in price negotiations.

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TYPES OF BUYERS

M3. LESSON 4

ASSESSING YOUR PROPERTY

In order to determine a sale price, first we will need to get the home and property into an optimum condition. To do this we will need to assess the current condition and create a ‘To-Do-List’ of what needs to be done. Don’t fret, we will break the job down into manageable steps.

Step 1.

Run a three-part ‘To-Do-List’ assessment of your property to determine the following:

a) the tasks you will do yourself

b) the tasks that you will need to hire a professional for

c) the tasks you’re unable to do but will have a negative impact on price

 


ASSESSMENT CHECKLIST

Hallway

  • Ceiling/wall finishes & trimwork – – – – – – – – – – – – –
  • Flooring – – – – – – – – – – – – –
  • Electrical switches & outlets – – – – – – – – – – – – –
  • Light fixtures – – – – – – – – – – – – –
  • Closet doors, hardware, rod & shelf – – – – – – – – – – – – –
  • Smoke detector – – – – – – – – – – – – –

Kitchen

  • Ceiling/wall finishes & trimwork – – – – – – – – – – – – –
  • Flooring – – – – – – – – – – – – –
  • Electrical switches & outlets – – – – – – – – – – – – –
  • Light fixtures – – – – – – – – – – – – –
  • Range hood & filter – – – – – – – – – – – – –
  • Cabinets – – – – – – – – – – – – –
  • Counter tops – – – – – – – – – – – – –
  • Sink & strainer – – – – – – – – – – – – –
  • Faucet – – – – – – – – – – – – –
  • Stove – – – – – – – – – – – – –
  • Refrigerator – – – – – – – – – – – – –
  • Heating system – – – – – – – – – – – – –

Living Room/Dining Room

  • Ceiling/wall finishes & trimwork – – – – – – – – – – – – –
  • Flooring – – – – – – – – – – – – –
  • Electrical switches & outlets – – – – – – – – – – – – –
  • Light fixtures – – – – – – – – – – – – –
  • Windows, hardware, screens – – – – – – – – – – – – –
  • Heating system – – – – – – – – – – – – –

Bathroom

  • Ceiling/wall finishes & trimwork – – – – – – – – – – – – –
  • Flooring – – – – – – – – – – – – –
  • Electrical switches & GFCI outlet – – – – – – – – – – – – –
  • Light fixtures – – – – – – – – – – – – –
  • Exhaust fan – – – – – – – – – – – – –
  • Vanity & counter top – – – – – – – – – – – – –
  • Basin & waste/stopper – – – – – – – – – – – – –
  • Basin faucet – – – – – – – – – – – – –
  • Mirror/medicine cabinet – – – – – – – – – – – – –
  • Toilet & shut-off valve – – – – – – – – – – – – –
  • Bathtub & waste/stopper – – – – – – – – – – – – –
  • Tub faucet & shower head – – – – – – – – – – – – –
  • Ceramic tile/tub surround – – – – – – – – – – – – –
  • Shower curtain rod – – – – – – – – – – – – –
  • Grab bars – – – – – – – – – – – – –
  • Towel bars – – – – – – – – – – – – –
  • Toilet paper dispenser – – – – – – – – – – – – –
  • Soap dish & tooth brush holder – – – – – – – – – – – – –
  • Entrance door & hardware – – – – – – – – – – – – –
  • Heating system – – – – – – – – – – – – –

Bedroom #1

  • Ceiling/wall finishes & trimwork – – – – – – – – – – – – –
  • Flooring – – – – – – – – – – – – –
  • Electrical switches & outlets – – – – – – – – – – – – –
  • Light fixtures – – – – – – – – – – – – –
  • Closet doors, hardware, rod & shelf – – – – – – – – – – – – –
  • Entrance door & hardware – – – – – – – – – – – – –
  • Windows, hardware, screens – – – – – – – – – – – – –
  • Heating system – – – – – – – – – – – – –

Bedroom #2

  • Ceiling/wall finishes & trimwork – – – – – – – – – – – – –
  • Flooring – – – – – – – – – – – – –
  • Electrical switches & outlets – – – – – – – – – – – – –
  • Light fixtures – – – – – – – – – – – – –
  • Closet doors, hardware, rod & shelf – – – – – – – – – – – – –
  • Entrance door & hardware – – – – – – – – – – – – –
  • Windows, hardware, screens – – – – – – – – – – – – –
  • Heating system – – – – – – – – – – – – –

Bedroom #3

  • Ceiling/wall finishes & trimwork – – – – – – – – – – – – –
  • Flooring – – – – – – – – – – – – –
  • Electrical switches & outlets – – – – – – – – – – – – –
  • Light fixtures – – – – – – – – – – – – –
  • Closet doors, hardware, rod & shelf – – – – – – – – – – – – –
  • Entrance door & hardware – – – – – – – – – – – – –
  • Windows, hardware, screens – – – – – – – – – – – – –
  • Heating system – – – – – – – – – – – – –

Bedroom #4

  • Ceiling/wall finishes & trimwork – – – – – – – – – – – – –
  • Flooring – – – – – – – – – – – – –
  • Electrical switches & outlets – – – – – – – – – – – – –
  • Light fixtures – – – – – – – – – – – – –
  • Closet doors, hardware, rod & shelf – – – – – – – – – – – – –
  • Entrance door & hardware – – – – – – – – – – – – –
  • Windows, hardware, screens – – – – – – – – – – – – –
  • Heating system – – – – – – – – – – – – –

Exterior / General

  • Entrance doors & hardware – – – – – – – – – – – – –
  • Balcony/patio door, hardware – – – – – – – – – – – – –
  • weatherstripping, screen – – – – – – – – – – – – –
  • Exterior light fixture – – – – – – – – – – – – –
  • Exterior GFCI outlet – – – – – – – – – – – – –
  • Intercom – – – – – – – – – – – – –
  • Fuse/breaker panel – – – – – – – – – – – – –
  • Roof – shingles – – – – – – – – – – – – –
  • Eaves-troughs – – – – – – – – – – – – –
  • Exterior cladding – – – – – – – – – – – – –
  • Windows – – – – – – – – – – – – –
  • Decks – – – – – – – – – – – – –
  • Hand-railings – – – – – – – – – – – – –
  • Fence – – – – – – – – – – – – –
  • Mailbox – – – – – – – – – – – – –

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SIGNS & FLYERS

M3. LESSON 3

SIGNS & FLYERS

Front Yard Sign

Place one For Sale sign out the front of your house, this will be delivered to your door as part of the package when you list with Stream. Your phone number will be featured on this sign, so be prepared to start answering inquiries.


Open House Sign

An Open House sign needs to be used in conjunction with directional signs in order to drive traffic to your home.

Directional Signs

Directional signs can be positioned at major intersections — if possible create a trail of arrows at each required turn 
directing viewers to your home. Permission is needed if you place a sign on private land — local laws regarding real estate signs will need to be followed.

The Information Sheet (Flyer)

Printed materials people actually want to take home with them- Feature sheets and neighbourhood infographics help Buyers remember your property when they leave – they’re an important part of marketing.

Information sheets are for buyers to walk away with something that will keep your home in their memory. If you do not have a high quality colour laser printer, then have your information sheets printed at a copy shop.

A typical information sheet is one page in length and it contains at least one beautiful exterior shot and two of your best ‘wow’ interior shoots. It also contains address, price, correctly measured room sizes and the description text you have created.

Be printed on glossy paper. Choose something that’s slightly heavier in weight than basic white copy paper. This will really help your photos pop and your home stand out among the listing sheets buyers use to compare homes during their search.

  • Include a call to action. What is the next step you want a buyer to take after looking at your home’s face sheet? Contact your real estate agent? Visit your home’s website listing for more information? Schedule a showing? Whatever it is, be sure to add this to your face sheet, along with any necessary contact info and links.
  • Make sure your home’s face sheet is handed out to all potential buyers at all showings and open houses. It should also be available electronically for email, as a download from your listing site, and to post and distribute online via your social networks.

Download flyer template here

The purpose of a flyer is twofold. First, place it in-front of your house so passers-bys (and nosey neighbours) can learn more about your house. Second, place the flyer in public spaces to drive traffic to your house…literally.

Tips:

  • Have more pictures than words.
  • Include the following details about your house…in order of importance (You don’t have to include everything).
    • Your First Name and Phone Number
    • Address
    • Link to online listing Link to your Stream page and use a URL shortener, like tinyurl.com, to make it easy for the buyer to type the address in their phone.
    • ALWAYS tell the buyer how to make an offer. Feel free to use this verbiage on the back of the flyer.

Don’t have an agent? Great – we both will save some additional money. Once you are ready for a showing or to make an offer, just give me a call. If you are setting up a showing, we will find a time that is convenient for you. I suggest – it is always best to be pre-approved for your mortgage before house-hunting. We would hope that you’ve talked to your lender already. If you are ready to make an offer, please have a dollar amount in mind for the offer and let me know any conditions. Once we reach an agreement (this may take a few phone calls), I will forward the details to my Real Estate Attorney. My attorney will write up a sales contract for you to sign. You will send the contract and the deposit (if any) to the attorney and I will countersign the contract. Once we both sign the contract, you will provide a copy of the contract to your mortgage company and they will lead you through the rest of the process. You will always be able to call me and ask questions throughout the process as well. I look forward to hearing from you in the next day or two.

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MARKETING YOUR HOME

M3. LESSON 2

MARKETING YOUR HOME

Being Seen

A common mistake FSBO’s make is not enough marketing.

In many cases, buyers have searched the internet for weeks or months before visiting a property. With the use of photos, buyers can get a good sense of your property and will decide whether to see it or not based on your presentation. That means you need to provide many quality images.

To get those visuals in front of buyers you need to access a site like Streampsl.com. The objective is to get your property exposed on the Canada wide MLS® System.

What is the MLS® System?

MLS (Multiple Listing Service) is the official database system for the Canadian Real Estate Association. Typically, as a For Sale By Owner you cannot add your listing here without the help of a real estate agent and their commission. However, there are some brokers that offer a flat fee type listing.

The Canadian Real Estate Association owns realtor.ca and, as a result, they can, and do, restrict its accessibility to its members. On STREAMpsl.com when someone searches for a listing your listing will appear along with the Canada wide MLS® listings.

In addition to the STREAM system, be prepared to conduct open houses, make ads to place on Kijiji, Facebook Marketplace and any local buy-and-sell groups that you can find. Prepare a file with your information sheet and lots of pictures that you can upload quickly and easily to sites as you find them.

Advertising your open house can appear to be a daunting task. It’s all about visibility. You will be able to order the ‘Open House’ sign and ‘Open House’ directional signs from STREAM. Those are the signs that say Open House and have an arrow pointing the way. You will probably need at least six to get traffic moving to you.

Printed Material

Two types of printed material:

Postcards — 500 for under $50

Posters 8.5″ x 11″ — 100 for under $25 or you can print these at home

Distribution ideas:

    • coffee shops
    • grocery stores
    • farmers market
    • community centre
    • laundry mat
    • club house
    • church
    • school
    • gym
    • work lunch room
    • Real Estate is you are willing to pay buyer’s commission
    • Doctors / Dentist waiting areas
    • local mailbox drop
    • billboards around your local area

Word of Mouth

Spreading the word to everyone you know is a strong marketing technique because chances are that your friends will know somebody who knows somebody in the buying position. Both personal conversations or on social media are a great way to spread the word. Tell your co-workers, your relatives, the cashier, and the people in your yoga class as you never know who they know is looking for a home like yours. Provide them with one of your printed postcards that sports the description, photos, and a link to a to your Stream website listing.

For Sale Sign

Believe it or not the good old fashion “For Sale” sign out front is still a winner for attracting buyers. Place the sign as close to the road as possible, unobstructed and with a phone number that’s easy to read. You will be able to order the ‘Open House’ sign and ‘Open House’ directional signs from STREAM. Those are the signs that say Open House and have an arrow pointing the way. You will probably need at least six to get traffic moving to you.

Multiple Listing Service

What is the MLS® System? MLS (Multiple Listing Service) is the official database system for the Canadian Real Estate Association. Typically, as a For Sale By Owner you cannot add your listing here without the help of a real estate agent and their commission. However, there are some brokers that offer a flat fee type listing. The Canadian Real Estate Association owns realtor.ca and, as a result, they restrict its accessibility to its members. On STREAMpsl.com when someone searches for a listing your listing will appear along with the Canada wide MLS® listings.

The biggest weapon in the real estate agent’s arsenal is the MLS. Multiple listing services are private databases used by licensed agents to find homes for buyers.

Social Media + Video

Social networking sites like Facebook, Instagram, Twitter and Pinterest present fantastic opportunities for home sellers to market their homes. Upload a youtube video walk-through and post it on your facebook feed with a link to your Stream listing, is a powerful way to get the word out.

  • Promote Your Open House Video Walk-through as an Instagram Story
  • Run a Facebook Live Stream at Your Open House

What better time to stream and record a video walk-through of your listing than when it’s full of people? Remember, people want what other people want.

In addition, publicize your listing on free sites such as Craigslist, Facebook Marketplace.

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