Successful Seller's Guide - Selling Your Own Home

Selling your own home is much easier when you have covered the basics by getting yourself and the home ready for the sale.

Please take the time to read through this information. It will make a big difference to your overall experience and it will arm you with the knowledge needed to greatly increase your chances of selling your property on your own.

We have provided this information in an easy-to-follow format on this page.

1

Preparing Yourself for the Sale

Presale preparations - take on a business-like attitude.

When you sell your home you take on two roles. First, as the seller, you become what is called the Vendor. Just like any other vendor, you must keep your shop/home in order. Appearing organized and at ease will go a long way in providing for a pleasant experience for the buyers when they come to check out your home.

Your second role is that of the Salesperson. As the salesperson you must know everything about the property. In fact, there is probably no one better to show your property to prospective buyers than you, so have a bit of fun while you do it! This is one of the main reasons our past clients have enjoyed the process of selling their own home. If you think about it, who do you trust the most to show off your most valuable asset to prospective buyers?

If you hire a real estate agent, you have to put your trust in them to properly show your home to buyers, and the reality is, that they actually know a LOT less about your home than you do. When you've hired a "full service" agent to sell your home, they don't even want you around while they show your property, opting to stumble through the questions that arise from buyers during the showing, that you're not allowed to attend.

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2

Preparing the Property for Sale

Make sure the house and yard are clean.

Assess each room and put any unnecessary items into storage.
A cluttered room can look smaller than it actually is. Keep your property tidy and professional looking.
Make a tentative schedule for showing days. Sundays and Saturdays remain the most popular for open houses, but try to avoid long weekends as many people are away for holidays at this time. Even if it seems like you are in a seller's market, make sure that you are available for private showings on whichever day and time the buyer wants to come over. If you plan properly as you are doing right now, you will minimize the inconvience of showing your home to buyers as much as possible. Make sure to think about taking holidays at another time. When you sell your home and have saved yourself several thousand dollars plus the GST on the commission, it will be well worth it to take the holiday later.

More information about preparing your home for sale can be found under the headings "Property Evaluation" and "Property Inspection" below.

3

Property Evaluation -
This is a Critical Step in the Process

If you are going to obtain an appraisal of your property, make sure it is from an accredited company that mainstream banks and mortgage institutions will accept.

Many buyers will be asked to produce an appraisal of the property by their financial institution prior to giving a commitment for funding.

Obtaining an appraisal yourself will not only ensure that the asking price is reasonable for your property, it's worth its weight in gold when you can show it to potential buyers. Not only will it show your buyer that you are asking a fair price, it can reduce the time it takes to close the deal if you provide them with a copy once you have accepted their offer.

INCORRECT PRICING IS THE #1 REASON THAT SOME PROPERTIES LISTED FOR SALE EVENTUALLY FAIL.
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4

Property Inspection

Don't be afraid to order an inspection of your property.
Obtaining an inspection of your property from an accredited (CAHPI) company will provide you with an itemized list of any issues that need your attention. If any problems are found, they can be addressed prior to offering your home to buyers. If there isn't enough time to fix the problem(s), or if you are faced with a seasonal timing challenge, you can always adjust your price based on the estimated cost to repair them. It's better to be up front with your buyer about everything the inspector found, and it will help you sleep better knowing that you're acting in good faith throughout the entire process.

Many buyers will either need or want an inspection before moving ahead with the purchase of a property. If your inspection is clear of any issues, it will give you and the buyer a much higher level of comfort, building trust between both parties. You can also provide your buyer with a copy of the report once you have accepted their offer, which may help reduce the time it normally takes to close a deal.

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5

Setting a Reasonable Timeline in which to Sell

It is important to determine the timeline you wish to follow during the selling process.

Below are a few important things to consider which will help you set realistic expectations.
When is the earliest you can leave your home? Buyers will want to move into the new property on the move out date of the place they are currently living. Sometimes possession dates can become a big stress factor during negotiations. Set the earliest time you are able to find another home and move out. If you get offers right away, you don't want to get caught off guard. An industry rule of thumb that agents use is three to four months. Use it as a bench mark and adjust it to your unique situation.

Some properties that are in more remote locations, are in an area that has less sales activity, or that are "buyer specific", often need more time to sell. Saturdays and Sundays should also be avoided as possession dates, as lawyers do not usually work weekends. NOTE: possession and move in dates are not necessarily the same.

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6

Social Media - Share your Listing & Spread the Word

Use Social Media! Facebook, YouTube and Twitter are all great ways to promote the fact that your home is for sale to friends and family, and to their friends and family as well. Social media is becoming an increasingly powerful tool for marketing and getting the word out to relevant audiences.
With the click of a button, we've provided sharing tools for your listing that easily posts it to various social media websites. It's like "word of mouth" in a digital form. (These quick-share buttons are also found directly on your listing, which searchers can use as well.) An email button is also provided as a quick way of sending your property link to someone who may be interested.

As a consumer, getting personal recommendations is significantly more effective than seeing a regular ad. There is much more trust and familiarity when you see a post from someone you know, which is why social media works so well!

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7

Showing your Home to Buyers

A) The Welcome
Although the buyer is a guest in your home, you want the buyer to put themselves in the position of owning the home. You don't want to make the buyer(s) feel like an intruder, or UNwelcome in any way.

Don't expect that the buyer will always remember to remove his/her shoes. If they have not removed their shoes and they are noticeably dirty, ask them politely to remove their shoes. If the buyer has not removed their shoes and they appear clean, you may want to just leave it alone, rather than risk offending them.

Don't leave the house. Instead, offer to answer any questions they may have, and tell them that you will hang back - then give them plenty of room as they move throughout your home. Many buyers won't talk openly about your house right in front of you, or with you standing too close by, so give them plenty of space.

Make sure you have put away any valuables that are easy to grab quickly, particularly in the bedrooms. Remove any prescription medication from the bathroom if that is where it is stored, and put it away somewhere safe until the showing is over.

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8

Documentation Needed for Listing & Selling a Property

Getting Organized to Sell
Create an Information File. Once the Property Evaluation Checklist is completed, locate all of the documents you have relating to your property (deeds, transfer papers, any legal documents, mortgage papers, etc.). This will help you better organize yourself. Remember, selling your home is similar to running a business, and the more organized you are, the better your chances are of being successful.

Providing accurate and detailed information about your property can help buyers learn a lot more about it - in a shorter period of time online. This is essential when you are competing with dozens of other properties that are also on the market. Highlighting key & unique features of your home, and the use of lots of photos for buyers, will help showcase your property much better, and will increase your chances of receiving inquiries from interested parties.

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SAVINGS CALCULATOR

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Savings Calculator

See what you can save when you sell through us.

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See what you can save when you sell through us.

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(Based on 6% on first $100,000 and 3% on balance)