Richmond Hill Homes
September 8th, 2010 
Brian Power 905-731-2000
Sales Representative

Royal Lepage Your Community Realty, Brokerage
Sellers Tips

Sellers Tips

14 IMPORTANT FACTS TO CONSIDER BEFORE YOU TRY TO SELL YOUR OWN HOME 
Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional. Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyer's recommend selling your own home yourself in today's market. Here are a few of the reasons why:

1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.

2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long... there must be something wrong with the home.

3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor... and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse--a very common occurrence.

4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home… selling means exposure. You need the maximum exposure possible, to generate the highest price possible.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.

6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.

7. The majority of qualified buyers are working with experienced real estate professionals.

8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.

9. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional.

10. Expected savings in broker's fees will also be greatly reduced if you offer a selling commission to entice real estate sales representatives to bring potential buyers.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees will be considerably higher.

12. Only real estate sales representatives have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales people. Further, real estate sales representatives are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.

13. You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with.

14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer's to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Real Estate professional can act as a great mediator. Lawyers MUST act only on their client's instructions and are not paid to negotiate.
 
The Model Home Effect 
Whether you're selling your home and want to appeal to prospective buyers, or you've just bought a new home and want to show it off to its best advantage when your first visitors arrive, you can learn a lot from how model homes are presented.


The best way to make a viewer "feel at home" is to create an environment that appeals to the majority of people.  That means avoiding highly personal styles of décor that, although they may make a bold statement about who you are, may not be welcoming to buyers and other visitors.


While you can't recreate the feeling of a perfect display home without starting from scratch, there are some valuable techniques to be learned that can start you on your way.  A feeling of spaciousness is one of the first impressions you get when visiting a model home.  You can duplicate that same open and airy feeling in your home in a variety of ways.  


First, choose light and neutral colours as the basis of your décor.  But what if you like bold and dramatic colours?  No problem.  You can introduce these colours as an accent in pillows, artwork, table or bed linens, and the occasional accessory such as a bowl or vase with bright flowers.  


Highlighting your favorite colour with accent pieces against a neutral background will give your décor that added punch, and a bright splash of colour will attract the eye rather than overwhelming visitors with wall-to-wall chaos.   Introducing colour as an accent also gives you the option of making a major change in your décor quickly and inexpensively, simply by changing some key accessories.



Spaciousness can also be conveyed through opening up sight lines.  Avoid furniture placement and drapery treatments that tend to block off your view of other areas of the house, or restrict the movements of your visitors.  Remember, open and airy also means an easy flow from room to room.




'Less is more' is the standard when it comes to creating the model home effect.  A common mistake that many homeowners make is having every collectible they own placed out in sight.  While we all have personal treasures that we'd like to display, if you go overboard your prized possessions will simply get lost in what looks like a lot of clutter.  Choose a select few pieces that complement each other and have a similar scale and just showcase these items.  


Professional decorators favor the 'rule of three', clustering pieces in groups of three for maximum effect.  You can pack away your other fine pieces for the time being, and then have the pleasure of replacing some of your current display items every time you feel like a quick and easy change in your room's look.  You may even find that you enjoy changing your accessories with each change in season.
 
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