Selling
Q. What typically goes into a listing agreement?
A. The listing agreement is typically between you and Bayleys. Such an agreement must include beginning and ending dates for the term of the listing; the conditions to which you, the listing agent and Bayleys agree; and a price (usually a percentage of the eventual sale price) you'll pay for services rendered in the sale of your home.
Q. How important is the condition of my property to its sale?
A. It's probably very important, depending on your priorities. Are you hoping to extract the maximum sale price for your home? If so, condition and appearance are crucial. If, however, you've let deferred maintenance catch up with you, your priorities may be different: you may wish to sell your home in "as is" condition, allowing the buyer to repair/replace items as s/he sees fit. In this case, your ultimate sale price will be less than what the same buyer would be willing to pay for a home that's in mint-condition.
Q. Should we leave home during showings (tours) or open houses?
A. Generally speaking, yes. If it causes you no undue hardship, it's easier for a real estate agent to show your home without you being present. The agent is better able to demonstrate your home's features and benefits, painting a realistic picture for the buyers to envisage themselves living there (the agent is also aware of the purchaser requirements and what they are looking for so can amend his sales pitch accordingly). Your absence will also allow your prospective buyers to feel more relaxed and focus on the house and its attributes – rather than on being polite to you.
Q. Should I buy or sell first?
A. The answer to this question is totally up to you. Do you need the equity that's built up in your present home to complete the purchase of a new home? If so, you either need to sell first or consult your bank for mortgage options. If not, you may choose to buy first and sell later. Before making a final decision, you should engage a real estate agent with whom you can enter a trusting relationship. Then discuss this question with him or her, touching on every aspect of what it may mean for your particular situation. Keep in mind, too, that the Bayleys listing agent who's selling your present home can easily become your buyer's agent for your next home.
Q. How can I prepare my house for sale?
The selling process can start months before a property is actually put on the market. It's a good idea to begin by looking at your home through the eyes of a potential buyer. This will help you decide what needs to be cleaned, painted, repaired or tossed out. Your Bayleys agent can help you make these decisions then, when you're ready, list your home.
Your agent will also help you stage your home to maximize its appeal to buyers. It's extremely important to view your home as a potential buyer would. Professional staging shows your home in its best light, therefore increasing its marketability.
To improve the appearance of your home, we suggest a “To Do List” which is below:
EXTERIOR
Wash house and windows.
Touch up trim paint on doors, window frames, fascia, etc.
Mow and edge the lawn frequently until the property is sold.
Overgrown shrubbery should be cut back to show as much of the exterior as possible.
Tidy and mulch the garden areas.
INTERIOR
Remove clutter. Pre-pack items to un-clutter your home and make rooms appear larger.
Clean your home from top to bottom.
Remove any odours in house (e.g. animals, cigarettes, strong food odours).
Repair any cracks or holes in walls and touch up paint.
Have carpets and draperies cleaned.
Remove stains from sinks, toilets, and bathtubs.
Fresh towels should be in the bathroom at all times.
OPEN HOMES
Dust and vacuum the whole house thoroughly.
Lightly clean and straighten up living areas.
Open all drapes and blinds to let in as much light as possible. Turn on lamps and other lights as necessary to brighten each room.
If you're planning to move at around the same time you're selling your property, try to arrange showings while the furniture is still in the house or hire furniture.
Any household or children's items should be stored away, eg. toys, bikes, skateboards etc.
Keep pets away from potential buyers and keep pet areas clean.
Try baking chocolate chip cookies or brownies just before the open home. A pleasant aroma means 'home' to many people.
Remember to keep your valuables in a safe place.
Should a buyer stop by when you're not having an open home, refer all inquiries to your agent.
Feel free to answer questions the buyer might have, but again, refer as much as possible to your agent who will be able to answer in the most positive manner.
Notify your agent if you'll be out of town and how to contact you. Timing is EVERYTHING!
Q. How can I find out what my home is worth?
A. Your Bayleys agent has a thorough knowledge of the current real estate market and will prepare a comparative market analysis for your home to help you set a competitive price/reserve.
Call us to have an agent appraise the value of your home and provide you with other relevant and helpful information to help you set a price.
Q. When is the best time to put my home on the market?
A. Believe it or not, peak selling seasons change from year-to-year and market to market. Buyers for good quality property can be found all year round. With the marketing process having become far more sophisticated than in previous times, the issue of timing is less critical today than in the past. Often, though, weather has something to do with it. Early spring and early autumn are prime listing seasons nearly every year because houses typically show better in those months than they do in the heat of summer or the cold of winter. Keep in mind there are more houses on the market during the prime seasons, so you will have more competition. Don't base your decision to sell on the season; each selling situation is unique. Talk to your Bayleys agent before deciding on the timing of the sale of your home.
For more information, give us a call
