PREPARE FOR SUCCESS
The first step in the journey is to simply get started. Studies show that the earlier you begin the process of selling your home, the more successful you will be. So where do you begin? Start by educating yourself on how the selling process works. Getting the facts will demystify things, make it easier and less intimidating, and help ensure you make the right decisions. In fact, that’s what this resource guide is all about! And remember. You don’t have to go at it alone. Your home is probably the biggest asset you will ever sell, and the most complicated. Don’t make the mistake of trying to do everything yourself. Talk to a good agent.
The Michael Baird Team, Royal LePage, Baird Real Estate 905-242-0419.
CHOOSING THE RIGHT AGENT / TEAM
The Michael Baird Team can answer your questions, determine what your home will likely sell for, and help you every step of the way. Most sellers use a real estate agent. And for good reason! A skilled agent can ensure your home sells quickly and for the best price, while making the entire process much easier for you.
The biggest factor in determining how quickly your home sells is the price, and deciding that price is trickier than it seems. It takes experience and even 1% more for your home can mean thousands to your bottom line. Negotiating is hard. Not just hard to do, but it can feel uncomfortable. If you want someone to negotiate fearlessly on your behalf, The Michael Baird Team is the right fit for you.
Marketing today is much more than MLS®. To get the most for your home, you need qualified buyers to see it. That requires an agent who knows how to create a marketing plan to get as many qualified buyers as possible to find out about and view your property.
Last but not least, we are a part of Royal LePage, Baird Real Estate and as a result have access to top of the range technological resources that are unrivalled in the industry.
PRICE IT RIGHT
Setting the list price of your home is an art. Too low and you leave money on the table — perhaps thousands. Too high and you scare away buyers — perhaps forever. To complicate this, your home is an emotional asset. It’s hard to see it objectively, as a “product” for sale. Finding the optimal price requires a combination of expertise, analysis, and old-fashioned street smarts. Great agents are incredibly savvy at setting a price that maximizes the price and minimizes the time it takes to sell. In fact, pricing is something agents spend their careers mastering – Luckily The Michael Baird Team has experience expanding 34 years! We combine intimate local and national market knowledge, an exhaustive study of similar homes for sale, and an analysis of past sales to arrive at the optimal list price.
WANT TO FIND OUT WHAT YOUR HOME WILL LIKELY SELL FOR ON TODAY’S MARKET? GIVE US A CALL ON 905-242-0419
PREPARING YOUR PROPERTY
We want to wow the buyers. Ideally, you want your home to look like a showcase. This is more important than you might think. The 3 R’s of prepping your home for sale:
Remove. Get rid of as much clutter as possible. Give it away, sell it at a garage sale, put it in storage, or take it to the dump. Just get it out of the house. You want your home to look spacious and tidy.
Repair. Chipped paint, cracked tiles, squeaky hinges, leaky faucets. Fix everything you can. Unlike any other Real Estate Agent in the Durham region we can have any renovations done with our renovations company – Renovate Real Estate.
Renew. Clean, clean and clean again. (It’s that important!) You want your home to look guest-ready. Organize each room so that it looks like a showcase. A fresh coat of paint can go a long way to dramatically improving the look. The Michael Baird Team will supply a cleaner – Free of charge!
Now that you have made your property look its best, you want as many qualified buyers as possible to see it. In other words, you want to get the word out. These days, marketing requires more than an MLS® listing and lawn sign. You need a strategic action plan to promote your listing so that all right buyers find out about it, get excited about it, and — most importantly — come to see it. To ensure our homes sell fast and at the right price The Michael Baird Team will use the following methods:
Online Marketing MLS®: We create a detailed listing on the largest database of available real estate.
Photos: A picture really can paint a thousand words so we have crystal clear photos that complement each room and feature.
Prospecting: The Michael Baird Team consistently taps into our network of eager buyers and we proactively call or door knock neighbourhoods to discover potential new buyers.
Feature Sheets: Great photos, inspiring descriptions in professional take-away form are a great reminder for viewers who are still deciding.
Open Houses: A good way to showcase your home to agents and potential buyers.
Print: Print ads in local newspapers are not as effective as they once were but we still pay to have your home advertised as we believe all avenues must be used.
The Michael Baird Team will create the right plan for selling your home.
SHOWING IT OFF!
4 key steps to showing off your home:
- Don’t be there – Buyers want to feel free to look around and discuss your home candidly.
- Be flexible when scheduling – Schedule viewings as often as possible.
- Make your home inviting – Open doors, Lighting scented candles, turn on lights etc.
- Have helpful information available – We will include property brochures, floor plans and contact information. Got a great neighbourhood? A list of area features — parks, schools, running paths — we will give buyers a clearer picture.
When you get an offer — or ideally multiple offers — you have nearly sold your home. But, as they say, nearly never was! Skilled negotiation is required to ensure that the deal is made for the highest price possible, with ideal terms and conditions. Negotiating is a skill set that is difficult to master. That is why it is important that you have a skilled agent handle this for you — someone who works in your best interests. Chances are, an offer will be higher or lower than your asking price. Don’t be concerned or offended. It’s normal. In fact, the best way to think about an offer is as a starting point to a conversation. The buyer is interested. They have proposed a price. The conversation has begun! Some things to keep in mind:
- Counteroffers are normal. Expect some back and forth. They offer. You counteroffer. You eventually come to an agreement.
- Momentum is important. Things happen fast at this stage – That’s why having a good agent to represent you is vital.
Once you agree, the buyer provides a deposit cheque to be held in trust until conditions are met and title has transferred. The conditions usually have a set time for removal, and usually include things like a home inspection and financing. Once the conditions are met, the buyer signs a waiver and the deal becomes firm and just waits on the closing date.
Congratulations. You have a firm sale of your home! Once the deal is made, your journey isn’t over. There is still paperwork to be done and calculations to be made. If you work with The Michael Baird Team, we will handle all those details for you, and ensure everything is done properly, including coordinating with your real estate lawyer. So although there are many t’s to cross and i’s to dot, a great agent will take care of those details. What a load off your shoulders! How Much Do You Keep? Once the sale is made, you will want to know how much you get to keep. There are a number of closing costs to consider.
- Legal fees. Lawyer’s fees vary, but often have structured fees for the sale of homes posted on their websites. On average, you can expect to pay $1,000 for a lawyer to look after the legal details necessary to close your home.
- Mortgage fees. Check with your lender to determine if any costs will occur when transferring or releasing your mortgage. There could be penalties for discharging your mortgage earlier than its term and there may be a discharge fee to remove a mortgage from title that can range from $100 to $250.
- Disbursements. These fees cover additional legal expenses such as travel, copies, couriers, registration fees and preparing document transfers. Budget about $500.
- Adjustments. It is difficult for a homeowner to calculate exactly how much money is owed to which utilities on closing day. Your lawyer will ensure that overpayments or deficiencies on rents, mortgage interest, property tax and utility charges will be corrected, and the buyer and seller will be credited or charged accordingly.
- Moving costs. These vary depending on location, distance, and amount of possessions to be moved. If you are moving yourself, you should factor gas, rental vehicles and moving supplies.
STEP-BY-STEP, THE MICHAEL BAIRD TEAM WILL STAY BY YOUR SIDE TO ENSURE EVERYTHING GOES SMOOTHLY BEFORE, DURING AND LONG AFTER THE SALE. TO LEARN MORE ABOUT OUR APPROACH TO WORKING WITH CLIENTS, GIVE US A CALL ON 905-242-0419.