Many homeowners believe that to maximize their profit on a home sale, they should sell it themselves. At first glance, they feel selling a home is simple, and why should they pay a broker fee for something they could do themselves?
However, a very large percentage of the small number of FSBO's that did sell said that they would hire a professional next time they sold. Most said they were unhappy with the results they achieved by choosing FSBO. Why?
Many FSBO's say that the time, paperwork and everyday responsibilities involved are not worth the amount of money they save in commissions.
For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, lawyers, loan officers, marketing and advertising, they would have been better off having paid the broker's fee which would have included many of these charges up front.
Selling a home requires an intimate understanding of the real estate market. If the property is priced too high, it will sit and develop a reputation for being a problem property. If the property is priced too low, you will lose serious money.
Some FSBO's discovered the lost money, as a result of poor decisions, outweighed the commission. Before you decide to sell FSBO, consider these questions and weigh the answers of assuming the responsibility versus employing a professional.
A little time spent investigating up front will pay off tenfold in the end.
Questions To Consider:
Do I have the time, energy, know-how and ability to devote a full forced effort to sell my home?
One of the keys to selling your home efficiently and profitably is complete accessibility. Many homes end up sitting on the market much longer than necessary because the owner was unwilling or unavailable to show the property. Realize that a certain amount of hours each day is necessary to sell your home.
Am I prepared to deal with an onslaught of buyers who perceive FSBO's as targets for low balling?
One of the challenges of selling a home is screening unqualified prospects and dealing with low-ballers. It often goes unnoticed how much time, effort and expertise it requires to spot these people quickly.
Settling for a low-ball bid is usually worse than paying broker commissions.
Am I offering financing options to the buyer?
Am I prepared to answer questions about financing?
One of the keys to selling, whether it's a home, a car, anything, is to have all the necessary information the prospective buyer needs and to offer them options.
Think about the last time you purchased something of value. Did you make a decision before you had all your ducks in a row? By offering financing options, you give the home-buyer the ability to work on their terms and open up the possibilities of selling your home quickly and more profitably.
A professional real estate agent will have a complete team- from lenders to lawyers- for you to utilize; they'll be at your disposal.
Do I fully understand the legal ramifications and necessary steps required in selling a home?
Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, a professional would be a wise choice.
Do I have the capability of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?
Ask yourself if you are well versed in legalese and if you are prepared to handle disputes with buyers. To avoid any disputes, it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.
Have I contacted the necessary professionals... lender, inspector (home and pest) and attorney?
Are you familiar with top inspectors?
Don't randomly select inspectors, attorneys, and lenders. Like any profession, there are inadequate individuals who will slow, delay and possibly even cost you the transaction. If these questions raise some concerns, you may want to speak with a professional.
I sincerely hope these tips and ideas are of value to you. If there is any way I can be of service, please contact my office.
I would consider it a privilege to be of service to you! If you would like a FREE consultation, call me at 905-399-1069
Warmly Yours,
Not all real estate companies are the same. If you decide to seek the help of a
realtor when selling or buying your home, you need some good information before
you make any moves.
Picking the right realtor is one of those critical issues that can cost or save
you thousands of dollars. There are very specific questions you should be
asking to ensure that you get the best representation for your needs. Many
realtors would prefer you don't ask these questions because the knowledge
you will gain from their honest answers will give you a very good idea of what
outcome you can expect from using this realtor. And let's face it - in real
estate, as in life - not all things are created equal.
Hiring a realtor is like any hiring process - with you on the bosses
side of the desk. It's critical you make the right decision about who
will handle what is probably the single largest financial investment you will
ever make. You should ask your realtor the following questions.......
1. Do you make it easy for buyers to get information about my home?
You may be surprised to know that the two marketing tools realtors use to
sell homes (open houses and big company ads) are actually not very effective at
all. In fact, according to The National Association of Realtors, less than 3% of people purchase their home as a result of calling on a company ad, and less than 1% of homes are sold at an open house. How do most homes in Oakville sell? Plain and simple - The Multiple Listing Service. When a realtor puts a home on the MLS, EVERY realtor from EVERY company has access to show and sell that home.
Furthermore, the prospects calling for information on your home probably value
their time as much as you do. The last thing they want to be subjected to is
either a game of telephone tag with a realtor or an unwanted sales pitch. Make
sure the ad your realtor places for your home is attached to a 24 hour pre-recorded
hotline with a specific ID # for your home which gives buyers access
to detailed information about your property day or night, 7 days a week. I
have found that 3 times as many buyers call for information on your home under
this system. And remember, the more buyers you have competing for your home the better, because it sets up an auction-like atmosphere that puts you in the
driver's seat. Also, make sure your realtor uses virtual tour technology that is easily distributed on social networking sites such as facebook, twitter, linkedin etc...
2. What is your commission and why are you worth it?
Don't ever agree to any commission unless you are shown exactly how this realtor earns it. FACT - Real Estate Commissions are NOT set by law!
3. Do you have at least 1 Assistant to help you?
Most realtors work all by themselves without any support making it difficult for
them to provide you with a consistently superior level of service. The job of
real estate has many and varied parts to it. Just as you wouldn't expect a
doctor or lawyer to answer phones or type letters, so your realtor
shouldn't be spending their time on simple, but time consuming, tasks that could
be delegated. If the realtor doesn't have assistants to cover each aspect of your transaction, you should ask yourself how much time they really have to get
your home sold. Note: An assistant is much different than the company receptionist. The company receptionist works for ALL realtors in the office, but an assistant only works for one realtor.
4. How, specifically, do you attract buyers?
The realtor should be able to explain, step-by-step, how they attract buyers and
show you evidence. If they can't, hire another realtor! Do not hire any realtor
who tells you their reputation will somehow attract buyers! Make them prove
it!
5. What has been sold in my area?
Realtors should bring you a list of comparable sales in your area.
6. What specific Advertising will you be doing to get our home sold?
If they expect to get your home sold by using only a big company ad, open houses or a
mediocre website then you are in big trouble. Make them be specific and put
what advertising they promise in writing!
7. On average, when your listings sell, how close is the selling price to the
asking price?
Their performance on this measurement will help you predict how high of a price
you will get for the sale of your home.
8. How many buyers are you currently working with? Do you have a list? How do you track your buyers?
Obviously, the more buyers your realtor is working with, the better your chances
are of selling your home quickly. It will also impact price because a realtor
with many buyers can set up an auction-like atmosphere where many buyers bid on your home at the same time. Ask to see the list and describe the system they use for working with these buyers. (They should have the list of buyers with them at ALL times) If they have a lot of buyers, they will certainly need a computerized system to keep track of them. If they can't or won't show you a list of their buyers, hire another realtor!
Note - There is a BIG difference between a list of actual buyers and a print-out of a database. An actual buyer list should contain the buyer's financial qualifications as well as what type of property they are interested in. Anything other than this type of list just doesn't cut the mustard!
9. What makes you different? Why should I list my home with you?
It's a much tougher real estate market then it was 5 years ago. What unique
plans and programs does this realtor have in place to make sure your home
stands out favourably among other competing homes? What things does this realtor offer you that others don't to help sell your home with the least amount of hassle and for the most amount of money? What type of technology do you use to help sell my home? Can you give me a demonstration of that technology? Note - Some of the most effective tools in real estate today are 24 hour hotlines, Social Networking Websites, Interactive websites, Talking House Radio Transmitters, Fax-on-demand, etc. Remember, have them demonstrate while they are at your home.
10. Can I cancel my Listing at any time?
Don't ever sign anything unless this realtor can guarantee, in writing, that they
will cancel your listing at any time if you decide not to sell your home or if you are not satisfied with the service being provided.
Bonus Question : Ask them how their services compare to other companies and be specific. Ask them about specific companies.
If they say ANYTHING negative about another company or try to make another company look bad, hire another realtor! Get the facts for yourself! Also, if they brag about how many homes they sell, how good they are or that they are #1, RUN THE OTHER WAY! It seems EVERY real estate company is claiming to be #1.
At Century 21 Miller Real Estate Ltd. we encourage you to compare any other company's services to ours based on FACTS not FICTION!
Rare 4 Bedroom 2 Storey Home for Sale on Sabel Street in Bronte - $475,000
Welcome to your next home! A RARE 4 bedroom, 2 storey in the sought after neighbourhood of Bronte.
This home has all kinds of character and sits on a beautiful, large, private, mature lot with extensive landscaping and stunning gardens. The home and the property have been lovingly maintained by the original owners. THIS IS A LOT OF HOUSE for the money. The home boasts 14 rooms including a large eat-in kitchen with sliding doors to a huge, beautifully landscaed backyard, separate dining room, main floor den, 2 large recrooms (one is a british pub style room) in the basement AND a workshop as well.
Bedroom sizes are also surprisingly large. Call for your private showing today and lets get you into your next home!
$475,000
Click here for more details on the property: http://www.century21.ca/property/ON/L6L_3V4/Oakville/Sabel_ST/196
Barry Quine - Sales Representative
Century 21 Miller Real Estate Ltd. - Brokerage
Visit my websites for up to date real estate information:
www.BarryQuine.com
www.Century21.ca/Barry.Quine
www.OakvilleRealEstateToday.com
Contact me TODAY!
905.399.1069
Barry.Quine@Century21.ca
This is a snapshot of all of the residential real estate activity that has taken place in Oakville today. For more details regarding addresses and prices please contact me TODAY at 905.399.1069 and I would be happy to help.
There were 23 NEW LISTINGS in Oakville today on the following streets:
Nelson Street - 3 Storey Live/Work FOR SALE
Ennisclare Drive - 5 Bedroom 2 Storey Detached FOR SALE
Towne Boulevard - 4 Bedroom 2 Storey Detached FOR SALE
Prince Michael Drive - 4 Bedroom 2 Storey Detached FOR SALE
Scotscraig Crescent - 3 Bedroom 2 Storey Detached FOR SALE
Falgarwood Drive - 3 Bedroom 2 Storey Townhouse FOR SALE
Lakeshore Road West - 4 Bedroom 2 Storey Detached FOR SALE
Fourth Line - 4 Bedroom Bungalow Detached FOR SALE
Baronwood Drive - 3 Bedroom 2 Storey Townhouse FOR SALE
Dewridge Avenue - 3 Bedroom 3 Storey Townhouse FOR RENT
Rebecca Street - 2 Bedroom Bungalow Detached FOR SALE
Pinecliff Road - 3 Bedroom 2 Storey Semi - Detached FOR RENT
Crestmont Drive - 4 Bedroom 2 Storey Detached FOR SALE
Cudmore Road - 4 Bedroom 2 Storey Detached FOR SALE
Sixth Line - 3 Bedroom 3 Storey Townhouse FOR SALE
Warminster Drive - 2 Bedroom Bungalow Detached FOR SALE
Waterstone Court - 4 Bedroom 2 Storey Detached FOR SALE
Fairmount Drive - 3 Bedroom 3 Storey Townhouse FOR SALE
Adirondak Trail - 5 Bedroom 2 Storey Detached FOR SALE
Weighton Drive - 3 Bedroom 2 Storey Detached FOR SALE
North Ridge Trail - 4 Bedroom 2 Storey Detached FOR SALE
Glen Valley Road - 3 Bedroom 2 Storey Detached FOR SALE
There were 4 Price Reductions Today - Call me to find out where the prices are being reduced!
There were 11 Conditional Sales Today
16 properties SOLD FIRM today! 6 of those properties SOLD AT OR ABOVE the asking price!!!
If you have any questions regarding your real estate needs please do not hesitate to contact me today!
Barry Quine - Sales Representative
Century 21 Miller Real Estate Ltd. - Brokerage
web: www.Century21.ca/Barry.Quine or www.BarryQuine.com
email: Barry.Quine@Century21.ca
blog: www.OakvilleRealEstateToday.com
phone: 905.845.9180
cell: 905.399.1069
BEST JUNE ON RECORD!
We had the best June on Record in terms of number of units sold this year as opposed to ast year! EXCELLENT STUFF!
Percent change June 2009 versus June 2008
Units Average Sale Price
TREB +27% +2% (TORONTO)
RAHB +19% +1.9% (HAMILTON/BURLINGTON)
OMDREB +21% -4% (OAKVILLE/MILTON)
Burlington Residential +19% +6%
Oakville Residential +20% -2%
Call Barry Quine Today to discuss your Oakville/Burlington Real Estate Needs!
Barry Quine
direct line: (905) 399-1069
web: www.Century21.ca/Barry.Quine or www.BarryQuine.com
email: Barry.Quine@century21.ca
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Always Attentive, Always Available, Always Working For YOU. Focussed on helping you not only meet but exceed your Oakville real estate needs.
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