HOME SELLERS IN BURLINGTON, ON
Why to use an agent?
Selling a home takes more than just putting a “for sale” sign out front. You need an agent with experience and training to help you determine the right price, come up with an effective marketing strategy, and anticipate and solve any problems that come up during the selling process. A real estate professional can help you with every part of selling your home, and offer you a smoother, hassle-free experience.When you’re selling your home, there are a number of advantages to working with an agent:
- He/she knows real estate values in your neighbourhood and will help price your home competitively by preparing a market analysis of homes that have sold, competing homes that are still on the market and homes that were on the market but didn’t sell.
- He/she will establish a marketing strategy for your home, ensuring that it’s exposed to as many potential buyers as possible.
- He/she takes care of the tasks involved in selling a house, ensuring that the transaction is simple and low-stress for you.
- He/she is an expert in the home selling process and will advise you of your rights, options and obligations.
- He/she is an experienced negotiator and will work for you to get you the best possible price.
Effective Marketing For Your Home
An agent can help you market your home by exposing it to as many potential buyers as possible. The first step is putting it on the MLS. But listing your property is only the beginning; your agent will prepare a personalized plan that includes everything he/she plans to do to sell your property. At Keller Williams Edge Realty , your property will be aggressively promoted through:
- A posting on the Multiple Listing Service (MLS)
- Keller Williams Edge Realty property advertising publications
- The Keller Williams Edge Realty web site
- Other Keller Williams Edge Realty offices and real estate professionals
- Mailings to potential buyers in your area
Pricing Your Property Right
If you price your property too low, it may sell quickly, but you’ll lose out on money. If you price it too high, it may not sell at all. Your agent can help you figure out the best asking price for your home.
The Benefits Of The Right Price
A well-priced property may generate competing offers, which will drive up the final price. Other real estate professionals will be enthusiastic about presenting your property to their buyers. Your home will sell faster because it is exposed to more qualified buyers.
Listen To The Market
As part of your pricing strategy, your agent will put together a comparative market analysis, which is a good indicator of what today’s buyers are willing to pay. It compares the market activity of homes similar to yours in your neighbourhood:
- Homes that have recently sold represent what buyers are willing to pay.
- Homes currently listed for sale represent the price sellers hope to obtain.
- Listings that have expired are generally overpriced or have been poorly marketed.
Don’t Overprice Your Home
Some sellers believe that if they price their home high initially, they can lower it later. Instead of making you more money, this strategy could end up hurting you.
- Early activity is key. As soon as a home comes on the market, agents and potential buyers sit up and take notice. If it’s overpriced, interested parties will quickly lose interest. By the time the price drops, the majority of buyers are lost. When a home has been for sale too long, buyers will be wary and may reject the property.
- You’ll miss the right buyer. You may think that interested buyers can always make an offer, but if your home is overpriced, potential buyers looking in a lower price range will never see it. And those who can afford a home at your asking price will soon recognize that they can get a better value elsewhere.
- You could run out of time. You may end up having to drop your price below market value if your home doesn’t sell initially. Price it right the first time, and you won’t end up having to sell it for less than it’s worth.
Glossary Of Terms
Amortization period: The actual number of years it will take to pay back your mortgage loan.
Appraised value: An estimate of the value of the property, conducted for the purpose of mortgage lending by a certified appraiser.
Assumability: Allows the buyer to take over the seller’s mortgage on the property.
Closed mortgage: A mortgage that locks you into a specific payment schedule. A penalty usually applies if you repay the loan in full before the end of a closed term.
Condominium fee: A payment among owners, which is allocated to pay expenses.
Conventional mortgage: A mortgage loan issued for up to 75% of the property’s appraised value or purchase price, whichever is less.
Down payment: The buyer’s cash payment towards the property that is the difference between the purchase price and the amount of the mortgage loan.
Equity: The difference between the home’s selling value and the debts against it.
High-ratio mortgage: A mortgage that exceeds 75% of the home’s appraised value. These mortgages must be insured for payment.
Interest rate: The value charged by the lender for the use of the lender’s money, expressed as a percentage.
Land transfer tax, deed tax or property purchase tax: A fee paid to the municipal and/or provincial government for the transferring of property from seller to buyer.
Maturity date: The end of the term of the loan, at which time you can pay off the mortgage or renew it.
Mortgagee: The financial institution or person that lends the money.
Mortgage insurance: Applies to high-ratio mortgages. It protects the lender against loss if the borrower is unable to repay the mortgage.
Mortgage life insurance: Pays off the mortgage if the borrower dies.
Mortgagor: The borrower.
Open mortgage: Allows partial or full payment of the principal at any time, without penalty.
Portability: A mortgage option that enables borrowers to take their current mortgage with them to another property, without penalty.
Pre-approved mortgage: Qualifies you for a mortgage before you start shopping. You know exactly how much you can spend and are free to make a firm offer when you find the right home.
Prepayment privileges: Voluntary payments that are in addition to regular mortgage payments.
Principal: The amount borrowed or still owing on a mortgage loan. Interest is paid on the principal amount.
Refinancing: Paying off the existing mortgage and arranging a new one or renegotiating the terms and conditions of an existing mortgage.
Renewal: Renegotiation of a mortgage loan at the end of a term for a new term.
Second mortgage: Additional financing, which usually has a shorter term and a higher interest rate than the first mortgage.
Term: The length of time the interest rate is fixed. It also indicates when the principal balance becomes due and payable to the lender.
Title: Legal ownership in a property.
Variable rate mortgage: A mortgage with fixed payments that fluctuates with interest rates. The changing interest rate determines how much of the payment goes towards the principal.
Vendor take-back mortgage: When the seller provides some or all of the mortgage financing in order to sell their property.
Getting Your Home Ready To Show
If you’re planning an open house, or are expecting buyers to be looking at your home, make sure their first impression is a good one. Here are few hints for making your house look great to potential buyers:
House in good repair
House number easy to read
Eavestroughs, down spouts and soffits in good repair
Garage/car port clean and tidy
Litter picked up
Cracked or broken window panes replaced
Lawns and hedges cut and trimmed, garden weeded and edged
Walks shovelled and salted
Boot tray inside front door
Doorbell and door hardware in good repair
Porch and foyer clean and tidy
Chipped plaster and paint touched up or replaced
Doors and cupboards properly closed
Leaky taps and toilets repaired
Burned out light bulbs replaced
Squeaky doors oiled
Mirrors, fixtures and taps cleaned and polished
Seals around tubs and basins in good repair
Floors cleaned, garbage containers empty
Inside of closets and cupboards neat and tidy
Countertops neat and polished
All lights turned on
Air conditioner turned on in warm weather
Fresh air in house
Fireplace lit in cooler weather
Halls and stairs cleaned
Drapes opened during daylight
Carpets freshly vacuumed
Fresh flowers in various rooms
Jewelry and valuables locked safely away or taken with you
Valuable property, such as art, vases and figurines out of reach, out of sight or locked away
Pets absent, where possible, or contained during the showing, and litter boxes clean
Keller Williams Realty Inc.
Keller Williams Realty Inc. is the largest real estate franchise company in the world, with more than 700 offices and 135,000 associates in more than a dozen countries. In 2015, Keller Williams Realty Inc. was named the No. 1 training organization across all industries in the world by Training Magazine and has ranked in the top 3 training organizations for 3 consecutive years. The company has grown exponentially since the opening of the first Keller Williams Realty Inc. office in 1983, and continues to cultivate an agent-centric, education-based, technology-driven culture that rewards associates as stakeholders. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information or to search for homes for sale visit Keller Williams Realty Inc. online at (www.kw.com). For more information about KWWorldwide, please visit kwworldwide.com.