You’ve decided it’s time to sell, now what?
Call me! I am happy to come to your home and run you through a comparative market analysis. My process is twofold, first I would like to come over for a tour of your home, look at any renovations you have done and assess the condition of the home overall. From there I will put a report together for you that will detail the market trends for your specific subset of the market; the content of the report will detail a statistical analysis of your market as well as a look at current comparable properties that are listed as well as what properties have sold. From there we will discuss the market strategy we would employ as well as discuss a range of market value and a go-to marketing strategy which would include a recommended list price.
You’ve decided to work with me! Awesome
Thank you so much for your business! From here we will set up a time to review & sign all of the pertinent paperwork and make a plan to get your home on the market. We will arrange a time for a staging consultant, if required, to advise you how to optimize your home for photos, once that is done I will have my professional photographer and videographer (drone footage as well) come in to showcase your home in the best light possible, we will also have a professional floor plan done. Once these assets are created, I will list your home on the multiple listing service (MLS) and all relevant social media channels.
Open Houses and Showings
A fantastic metaphor for sales in any industry is to visualize it as a funnel. The first step to filling that funnel when selling real estate in 2020 is creating the absolute best digital presence possible for your home. An optimized digital presence will help attract buyers to view the photos, floorplan and drone and cinematic walk through that was created for your home. The floor plan will help them understand exactly how your home is laid out. This attention should yield showings and attendance at our open houses. The more attention we generate here the higher the probability of generating offers.
If the home is priced and marketed well offers will be generated. Part of my job is to help you assess the strength of the offers presented. Purchase price is definitely a huge factor in deciding whether or not to move forward with an offer, this said there are a host of other factors to consider;
- The amount of the deposit, generally I like to see the deposit at roughly 5% of the purchase price. If the deposit is low and there is a long completion, you’re exposed to the risk of the buyer walking away and forfeiting their deposit. While you will retain the deposit, this won’t cover your damages, especially if you’ve purchased another home. We need to make sure the buyer has enough, “skin in the game”
- Terms and conditions. Unless there is a multiple offer situation offers typically contain between 5-7 conditions, generally these conditions are, property insurance, inspection, property disclosure statement review, & title review. If the property is Stratified, they will generally want to review all of the strata documentation. If the home is using a well and septic field instead of municipal services, they will likely want to examine these systems. If there are conditions outside of these ones, like an offer being subject to sale for example, the offer will be weakened tremendously. Other things to watch for is a long subject removal. I also endeavour to vet the prequalification of the buyer as well, I will ask the buyer’s agent if the buyer is preapproved and if so, who are they are they working with as their broker. I want to learn as much as I can about the buyer before we accept their offer.
- We also need to consider their completion and possession dates. Do they make sense for you and your family? Are they open to negotiation on these dates?
After the buyer has done their due diligence, they will remove subjects and put the agreed amount of deposit into the buyer’s agent’s brokerage’s trust account until the completion day. At this point I will encourage you to open up a bottle of your favourite wine, crack a beer or pour a glass of scotch because your home is now SOLD!
The next steps are to plan for your move, start packing, start changing your address etc.
Are you think about selling? Want to chat about this process in person and get a sense of what your home is worth? Give me a call or text at 778-241-8932. I would love to hear from you and chat about your next move.