Tag: renovations

Real Estate - ANALYSIS

The 4.5 Best Tips To Attract More Buyers and Make Them Pay More For Your Home.

1. Price Your Home Right

This is by far the most important part of the selling process; after all, anyone can sell a house if it’s priced below what the true value should be, right? Heaven forbid you price yourself too high, and then your home might not sell at all. Don’t rely on other comparable listing prices – aim for SALE prices. Remember – properties for sale are also properties that haven’t sold, so why would you base your price in relation to them? You want to SELL, so find out what the comparables SOLD for, and price accordingly.

Try This: Contact the Land Registry office in Ottawa at http://www.ontario.ca/en/ services_ for_residents/STEL02_165696 for sale prices. Another great way to obtain these prices would be to get a Comparable Market Analysis (CMA) from a Realtor.

2. Provide Maximum Exposure

This is Marketing 101: More Exposure = More Buyers = Higher Demand = Higher Sales Price. You need to make sure you are getting as much exposure as possible; an internet posting and a Home Depot sign on the front lawn will simply not suffice in this day and age.

Try this: Spend some time uploading your listing on as many websites as you can, and use keywords in your listing description that will come up in searches. Put an information package together on your property and send it out to the top-selling agents in the area, and leave some at home for potential buyers.

  3. Take Your Home Seriously

 Is there ever was a time – this is it. You want to make sure that your home is portrayed in the best light as possible. Potential Buyers should feel privileged to purchase a home as desirable as yours, right?

 Try This: Clean and de-clutter. Invest in some storage organizers and get your home in order. Revive your home with a Spring Cleaning regardless of the season. If you can’t take great pictures, pay someone to. Professional photography brings out the best in your home, and will give it that WOW factor. 

Have a look at www.FitToSell.ca for ideas!

 4. Focus Marketing on ‘Premium Paying’ Buyers, and Filter out Bargain Hunters

 Why would anyone shop purely for private sales? To find a bargain, that’s why! Don’t attract a swarm of bargain hunters and set yourself apart from the rest.

 Try This: Insist that buyers either bring a letter from their lending institution saying that they are qualified to purchase a home such as yours, or that they are accompanied by a Realtor. Not only should Realtors should only be showing a buyer properties that they are qualified to purchase, those very buyers that are working with Realtors understand that they are viewing homes with commissions ‘built-in’, and are therefore prepared to purchase a home that will have a slight premium attached to it. Which would you rather, a swarm of bargain hunters, or a swarm of premium payers? Realtor’s attract premium payers because Buyers trust the brokerage, feel confident in it’s abilities and reputation, and require professional results. Offer as much money to a cooperating brokerage as you feel comfortable. You will attract the cream of the crop Realtors and Buyers – and the Realtors will have more incentive than ever to close a deal with more commission at stake, so you may very well be able to re-coup the commission in your price and/or negotiations.

 4.5 Consider a Professional

Remember, homeowners have ALWAYS had the ability to sell their homes privately, right?

So ask yourself – why was the industry ever created in the first place?

 A few reasons include (but are not limited to): 

  • Professional execution of the four points listed above
  • Strong negotiations that retain money and protect interests
  • Ensuring the coordination and cooperation of all parties involved (lawyers, inspectors, appraisers, engineers, other Realtors, other buyer/sellers), so that a deal is not fumbled due to miscommunication or incompetence.
  • Professionalism and experience to protect clients from various legal pitfalls.
  • Proper completion of various legal documents
  • Full time efforts and advocacy for properties

Would you spend a dollar to earn two? With a good Realtor, commission is an investment that will NET you more money at the end of the day (Notice I specified – with a GOOD Realtor?).

After all, what is more important – how much you invest in a professional, or how much money you NET?

 I trust this information was helpful to you! If you have any questions or concerns, please do not hesitate to contact me at any time personally at (613)868-4383

For a FREE and NO-OBLIGATION Comparable Market Analysis of your home, email me at MarcEvans@remax.net

Ask about the 6 smartest home renovations!

Real Estate - ANALYSIS

To Flip or Not to Flip?

We are well aware of the flipping craze that is taking both our nation and TLC by storm, and we have all certainly heard the perks and the drawbacks to pursuing these types of projects. We have heard many stories about impressive sums of money being both made and lost, and even our fair share of horror stories when it comes to the actual work that is done on the property. There is however, one aspect of a flip that I seldom hear anyone speak of : the COORDINATION efforts involved in making a flip a success. A word of warning for those contemplating a flip – this can become a full-time job! If you have a busy lifestyle as is – you may want to reconsider.

Not only does one person have to have done their homework in finding the right opportunity (a daunting task in itself), but the actual execution of the flip can require over a dozen different parties! Between architects, general contractors, bankers, mortgage specialists, realtors, and a half dozen subcontractors (minimum) – the amount of meetings and volume of correspondence is mind boggling. This doesn’t include the due diligence phase of hand picking the team members from a long and detailed list of potential candidates.

When you add up all the projected revenues and expenses from the project, do not forget to factor in the value of your time! When you figure out your initial projected timeline, factor in how valuable that time is to you, and subtract it from your profits to get a better idea of the true profit. Don’t forget to pay yourself!

 

Thoughts?