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7 Must-Do steps to selling your home.

Thinking of selling your property?
Take a close look at the 7 steps in this guide. They will help you prepare for the sale.
Overview Of The 7 steps:
1. Understand your market and neighborhood
2. Improve appearance before marketing
3. How to set the sale price 4. Understand price (the most important step)
5. Interview Realtors
6. Create a marketing plan
7. Stay informed of market changes

Explanation & Details: FIND RECENT SALES ON REALTOR.CA
1. Your Market – Understand that every neighborhood is unique. Even in the same town and Postal code, home values can vary greatly.
A good first step for any seller is to do a little research for recent sales in your immediate area.
You can visit Realtor.ca and enter your Postal code for recent sales. These recent sales will help you understand pricing in your area.

After researching Realtor.ca, contact a local Realtor for more information on current sales and market conditions. A good Realtor can be a great resource here.

2. Appearance – How the property shows is critical to maximizing your sale price. Before you even start marketing, you should take an inventory of some things you can improve to make the property more appealing.
This is another area where an experienced Realtor can help. A Realtor can help you indentify the most important upgrades to make before putting your home for sale. They may be able to help you maximize your return on the upgrades by informing you of which upgrades or repairs will return the most.
A few examples? How about 6 great examples with a cost of under $1500. These improvement tips can deliver an excellent Return-On-Investment(ROI). Each tip includes estimates of cost of a project, increase in value, and ROI. #1 on the list is a must do.

1. Clean & Remove Clutter: ($290 cost / $1,990 price increase / 586% ROI)

2. Landscaping: ($540 cost / $1,932 price increase / 258% ROI)

3. Shampoo carpets: ($647 cost / $1,730 price increase / 169% ROI)

4. Paint interior: ($1,012 cost / $2,112 price increase / 109% ROI)

5. Repair floors: ($931 cost / $1,924 price increase /107% ROI)

6. Paint exterior: ($1,467 cost / $2,222 price increase / 51% ROI)

If you have any small upgrades you can make in a bathroom or kitchen you can see a nice ROI on any of this work. For example, a cracked sink, repair grout, new tile on a bathroom floor, or new fixtures are inexpensive fixes that can really impact how your home is viewed. And it should pay off with a higher sale price.

IMPORTANT TIP: Do NOT Ignore Curb Appeal

First impressions are important, right? This is especially true when talking about selling a home. One of the easiest ways to make a better impression is to boost your curb appeal.

What can you do about your curb appeal?

  • Trim Flowers, Trees, and Bushes – Easy, inexpensive, and it helps.
  • Wash Your Exterior – Power wash the house.
  • Plants In Containers – A quick way to add color & life.
  • Restore or Replace The Front Door – Restore wood door with varnish, paint the door, or replace it. This instantly improves curb appeal and, according to reports, it provides the “greatest return on investment of any home improvement”.

3. Your Price – Pricing the home is a very big part of the selling strategy.
In step 1, finding recent sales on Realtor.ca was mentioned.
What you should do is find “comparable sales” on Realtor.ca. This means the sales of similar properties to yours. Properties with the same features such as size, bedrooms, and immediate location. Ideally try to find the recent sales within ½ mile of your property.
Write down several recent sales in your area. Make a list of 5-7 recent sales. This will give you a good ballpark of where your price may fall.
After getting your list of comparable sales together you will be ready to speak with a Realtor about getting an even better idea of selling price.
Speak with a few Realtors about the current value of your property and all of the recent sales in the area.
Realtors have a detailed understanding of current sales and how they may impact your home value. They will also take into consideration & explain how any features may impact your asking price (such as a view, open floor plan, etc).

4. Understanding Price – A happy & satisfied home seller should have a good understanding of current values and why their home is priced at a certain level.
A Realtor can be a great resource here and offer their experise in this specific area.
A good gameplan to understanding where to price your property is getting a list of comparable sales together and then talking with a local Realtor.
With the Realtor’s help you can review the recent sales you found with the information about sales in your area that the Realtor will bring to the table.
You will gain a better understanding of pricing your home by sitting down with a Realtor. Not only will you review all of the comparable sales with the Realtor but also discuss important aspects that you may not realize about your property, recent home sales, and local market conditions that may impact the current value of your property.
This leads to step 5. Contacting the Realtor.

5. Interviewing Realtors – Don’t be intimidated with this step. Talk with several Realtors and lean on them for their expertise.
Ask them for advice on how to prepare your home for sale, pricing, and marketing.
Questions to ask a Realtor:

  • What would they change about the house before putting it on the market?
  • What features would they highlight in marketing the home and offering it to potential buyers?
  • What geographic areas and types of properties do you usually handle?
  • Do you use video or virtual tours to market my home?
  • Do you have sample marketing materials? (For example, print advertising, postcards, single property site examples, etc.)
  • At what price should I list my property? What do you think it will sell for? And why?
  • Can you provide a CMA (Comparative Market Analysis)?

IMPORTANT TIPGet A CMA From A Realtor

A CMA is a “Comparative Market Analysis”. It’s a report prepared by a real estate agent which is made of a listing of homes currently for sale and recently sold in your area.

The CMA compares details of your home with similar homes that are currently listed and recently sold. It includes property specific such as square footage, bedrooms, etc.
 A CMA gives a home seller a lot of important information.​For example, how long are homes on the market before the sale? What kind of competition do you have in terms of  current listings of similar homes?
The CMA may be the most important tool when trying to develop a realistic view of your homes current value. So                    be sure to ask a Realtor to provide this free report for you.

6. Marketing Plan – Creating a marketing plan to sell a property is perhaps the most important duty of a Realtor. A realtor should have a specific marketing plan for your property that includes online marketing.
Ask this question of your Realtor:
“What types of specific marketing systems and approaches will you use to sell my home?”
Putting a sign in the front yard is not enough. What else will the Realtor bring to the table in terms of putting your property in front of the largest number of buyers? This needs to be asked and addressed.
You want a Realtor who is up-to-date with current marketing. You want somebody who has an aggressive approach and truly understands real estate marketing in 2017.
Today, buyers are using the internet more than ever to preview homes. They are also using mobile devices. Therefore it is critical that your home is displayed online in the most appealing manner.
For example will the Realtor do the following:

  • Create a single property website specifically for your property?
  • Are they marketing directly to mobile users?
  • Do they use professional photographers for your listing?
  • What kind of print advertising will promote the sale?

Ask any Realtor you are considering to explain a complete marketing plan. You want somebody who will take the extra steps to promote your property to the largest audience.
Ask for examples of how they market a property.

7. Stay Informed – Selling a property is rarely a sprint. More than likely it is a marathon over several months. Stay on top of any market changes

that impact home sales such as new listings in your area and interest rates rising/falling.
An increase of inventory (similar homes for sale) could impact your sale price.
Your Realtor should send you updates on the marketing of your home as well as, any new listing and sales in your immediate area. Keep an eye on local market conditions and be an informed seller every step of the way.

To recap…
Your 7 steps to take before selling are…
1. Understand your market and neighborhood
2. Improve appearance before marketing
3. Learn how to set price 4. Understand price (the most important step)
5. Interview Realtors
6. Create a marketing plan
7. Stay informed of market changes

Understanding home sales and price in your area, asking the important questions with a Realtor, and doing all of the above will make the selling of your home a much smoother process.