

Roger Taylor ~ Sales Representative
Royal LePage Duncan Realty
481 Trans Canada Hwy, Duncan, British Columbia, V9L 3R7
Cell: (250) 701-5219
Office telephone: (250) 746-6621
Toll-free: (800) 933-3156
E-mail: RogerTaylor@shaw.ca
Tips for Sellers:
It is worth mentioning at the outset,many of these items will seem obvious and are meant only as a reminder.
It should also be recognized, many properties sell everyday without any kind of preparation. Any property will sell, in any market, as long as the price reflects its shortcomings.
Timing is everything:
The best time to sell your house is when there is nothing comparabble on the market in your immediate neighbourhood.
If you do have competition, you will have to offer better
value for money.
Know your market:
Because of the Real Estate system in Canada, possibly the person with the most relevant knowledge concerning the appeal and value of your home will be a buyer who has looked at two dozen similar homes in the last few weeks.
Try to be as informed as your buyer.
Is your Home Unique?
All Real Estate by its very nature is unique.
Identify a unique feature and emphasize it.
Any benefits your property can offer will pay dividends in the long run.
Of course when it comes to waterfront or acreage the variables can become quite complicated. Comparisons which may not be in a similar location have to be considered. A buyer for fifty acres with a specific use in mind may want to look at several areas.
Identify your Buyer:
According to surveys, currently 38% of our buyers are from out of town and 16% are from Alberta. The biggest growth of home sales are forecast to be in "Holiday Cottage " segment of the market. Customizing your "To Do" list with an end user in mind may be the most effective way to maximize the equity in your home.
Renovating a bathroom when you have a stable in disrepair on the property, may not provide the best return.
Don't Choose the Buyer:
All too often the vendor will take a liking to one person over another. If your objective is to achieve the highest price in the shortest time, try to keep an open mind about the motives and personality of, what could be, your best customer.
Marketing:
It goes without saying; the more qualified and motivated buyers, you introduce to to your property, the more likely a good price will be achieved.
Adversely, keeping the sale a secret will do nothing to increase
the motivation of a prospective buyer.
A well thought out advertising campaign, directed at a set of "Identified Buyers" should be an important consideration.
Curb Appeal:
There are, available, so many checklists, staging tips, staging companies and so forth concerning the preparation of homes before sale, I will not go in to that aspect here. The most important of these would be your " First Impression ".
How well decorated or well laid out your home is, will be irrelevant if you can't get the buyer through the door.
Negotiation and Market Value:
Given you have been thorough with the other points listed above, will enable a more assured position in the negotiation stage. Try to be unbiased. Phrases like,
"I need this price because of the cost of my next house"; or,
"It's worth it because we have been here for fifteen years"; or,
"I would like to get this price because it was my high score in bowling" will not
seem relevant to an educated buyer or his Realtor. There are very few
uneducated buyers and even fewer uneducated millionaires.
Tips for Buyers.
Starting the Search:
Get prequalified first. There are enough freelance mortgage brokers to ensure you
will get a good rate and they will also help you clarify what your budget might be.
(There are surprises). Getting this out of the way now will also help if you need
to move fast.
The Search Itself:
Be clear of what you need, want and that it exists. Phrases like;
" We want a great view and a flat garden "; or
" a small house with really big rooms"; or,
" a minimum of ten acres, close to town ";
are searches likely to end in frustration. If you can create a mental picture of
the perfect property you are more likely to recognize it when you see it.
( If you were able to describe that picture to a Realtor you may run the risk of
being mounted on a wall ).
Market Value and Negotiation.
Wether in the hottest market or the slowest, the sale price is always set by
the buyer. The vendor may ask what ever price they like but the informed buyer always has the option to negotiate, pay the asking, pay even more than asking, or walk away. There is no substitute for knowledge in any market. If you knew of two similar properties which recieved multiple offers and were therfore aware of several "Runner Up" buyers circling the area that information might alter your level of motivation. What to pay and what to offer can often be a challenging decision.
If the negotiations break down, can you be certain the property will be available
in a couple of months to try again.