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Pricing Misconceptions If sellers fall behind a market with falling home values, they can end up chasing the market down, because home values are always.

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Presentation on theme: "Pricing Misconceptions If sellers fall behind a market with falling home values, they can end up chasing the market down, because home values are always."— Presentation transcript:

1 Pricing Misconceptions If sellers fall behind a market with falling home values, they can end up chasing the market down, because home values are always falling faster than their price reductions.

2 Price Right - Time on Market Works Against You If you want to compete, be competitive - The buying marker has a short attention span. - Pricing your home right the first time is key. - Proper pricing attracts buyers. - An overpriced house will not sell. - We want to generate offers before the market moves on to newer listings.

3 What Sells - Right Price, Great Condition To get your home sold for the most money in the least amount of time, we have to price it in the market.

4 Preparing Your Home for Sale Did you know well-placed furniture can open up rooms and make them seem larger than they are? Or that opening drapes and blinds and turning on all lights make a room seem bright and cheery? It's a fact: acquiring the highest market value and elevating your home above others in the same price range often comes down to first impressions. Here are some inexpensive ways to maximize your home's appeal: Exterior - Keep the grass freshly cut. - Remove all yard clutter. - Apply fresh paint to wooden fences. - Paint the front door. - Weed and apply fresh mulch to garden beds. - Clean windows inside and out. - Wash or paint homes exterior. - Tighten and clean all door handles. - Ensure gutters and downspouts are firmly attached. Interior - Remove excessive wall hangings, furniture and knickknacks (consider a temporary self-storage unit). - Clean or paint walls and ceilings. - Shampoo carpets. - Clean and organize cabinets and closets. - Repair all plumbing leaks, including faucets and drain traps. - Clean all light fixtures. For Showings - Turn on all the lights. - Open drapes in the daytime. - Keep pets secured outdoors. - Play quiet background music. - Light the fireplace (if seasonally appropriate). - Infuse home with a comforting scent like apple spice or vanilla. - Vacate the property while it is being shown.

5 Closing 101 The closing day is the day the buyer gets title and keys to the property and the seller receives the proceeds from the sale. Prior to closing, your lawyer will contact you to arrange a time to meet and sign documents. Here are a few things to bring to the closing: All parties on title need to attend the meeting. - House keys. - Mailbox keys. - Electronic FOBs. - Photo ID. What can you expect? The lawyer will look over the purchase contract and identify what payments are owed and by whom; prepare documents for the closing; conduct the closing; make sure taxes, title searches, real estate commissions and other closing costs are paid; ensure that the buyer's title is recorded; and ensure that you receive any monies due to you. What are your costs? Sellers commonly pay the following at closing: - Mortgage balance and prepayment penalties, if applicable. - Other claims against your property, such as unpaid property taxes. - Unpaid special assessments on your property. - Real estate commission. - Legal fee. After the closing, make sure you keep the following for tax purposes: - Copies of all closing documents. - All home improvement receipts on the home you sold.

6 Closing 101 New Telephone Number: _________________________________________ New Address: __________________________________________________ Before you move, you should contact the following companies and service Providers: Utilities: ______Electric ______Telephone ______Water ______Cable ______Gas Insurance Companies: ______Accidental ______Auto ______Health ______Home ______Life ______Renters Professional Services: ______Broker ______Accountant ______Doctor ______Dentist ______Lawyer Business Accounts: ______Banks ______Cellular Phones ______Department stores ______Financing companies / Credit cards Government: ______Internal Revenue Service ______Post Office ______Schools ______State Licensing ______Library ______Veterans Administration Subscriptions: ______Magazines ______Newspapers Miscellaneous: ______Business Associates ______House of Worship ______Dry Cleaner ______Hairstylist Clubs: ______Health & Fitness ______Country Club

7 Buyers Satisfaction Guarantee CONSULTATION – We will meet together to discuss your buying needs. ORIENTATION TOUR – To get a thorough understanding of what the perfect home would look like, we will take you on an orientation tour and see up to 10 houses that fit your criteria. This will really help us to narrow down whats important to you. One rule, you are not allowed to buy anything on this day – it is simply to gather information. DETAILED PROPERTY INFORMATION – For houses that really peak your interest, we can provide the sales history of the home, the street and surrounding area, along with any other pertinent information. This will help you decide if this is the right property for you. SHOWINGS – On an on-going basis, we will continue to look at homes together as often as required. PROPERTY SEARCH – We will provide you with available properties that meet your criteria though the MLS® system. We will search daily and highlight any suitable listings. Should you find any properties through online or print advertising or For Sale signs, we will be happy to show you these properties as well. REFERRALS – We have a vast network of business contacts ready to service your extended Real Estate needs such as Lawyers, Mortgage Brokers, Home Inspector, etc. DEDICATION – We aggressively pursue other means of obtaining appropriate properties/homes if there is nothing currently available through MLS®, such as advertising on our website PointZeroOne.ca, local newspaper, door knocking and flyers and an aggressive social media strategy. We WILL FIND you your next home. COMMITMENT – You have hired us to find you a property/home that meets your specific criteria. We will commit our time and focus our expertise on obtaining a suitable property/home in a timely manner. AVAILABILTY – We are ALWAYS available to discuss information concerning YOU as our valued client. OFFERS – We are highly skilled negotiators and will negotiate your Offer to Purchase to obtain the best possible results. Upon acceptance we will guide and follow through on all the details to bring the transaction to a successful conclusion. The Point Zero One Realty Team, looks forward to working with you.

8 Sellers Checklist Please have the following information available: Tax Certificate/ Receipt for current year. Well/Septic Documents (where applicable). Survey – if applicable. Utility Bills (water, hydro, heat). List of upgrades/repairs (with receipts where applicable). Any applicable warranties. Best Contact Information to coordinate showings: 1st option: Name:Home: Work:Cell: 2nd option: Name:Home: Work:Cell: Best Method of contact: Day:Evening: Weekends: List features of your home that you feel are important to highlight in ads or feature sheets: Items you wish to include in the listing contract that you feel may add value: Items you wish to exclude from the listing contract:

9 Schedule A Attached to and forming part of the offer to purchase between __________________ (vendor), and__________________(purchaser). Property known as __________________________ dated _______________, 20______. The following conditions form part of the agreement of purchase and sale : (check off when items are completed) Survey certificate (if applicable) to be supplied to buyer within 5 days of offer acceptance. Driveway, steps & walkways to be clear prior to closing date. All available manuals for any chattels to be left for the buyer. All and any debris to be removed from basement, garage and yard before closing date. Home is to be thoroughly cleaned – cabinets, floors, windows, walls, appliances etc… before closing date. Carpets are to be professionally cleaned and receipt left for buyer, before closing date. All postal information (including keys) to be left before closing date. Chimney to be professionally cleaned and receipt left for buyer, before closing date. Pool liner to be leak free. All pool equipment to be in good working order. Lawn to be mowed prior to closing date (front and back). Dated at ________________ this__________day of ________________, 20_____ Witness_________________________Purchaser____________________ _____ Dated at ________________ this__________day of ________________, 20_____ Witness_________________________Purchaser____________________ _____

10 Disbursements Purchase Disbursements Estimated Disbursements Government/Teranet Registration Fees-Transfer (each) Government/Teranet Registration Fees-Mortgage (each) Searches/Conveyancing Software Use Transaction Charge Office Recovery (copies, courier, fax, postage, long distance calls, etc.) Title Insurance (for property up to $400,000) Sale Disbursements Estimated Disbursements Government/Teranet Registration Fees-Mortgage Discharge (each) Searches/Conveyancing Software Use Transaction Charge Law Society Transaction Levy Office Recovery (copies, courier, fax, postage, long distance calls, etc.) *Plus HST where applicable. Land Tranfer Tax is applicable to any purchase. *Tax will depend on the value of the property, whether or not it is located in Toronto and whether first time home buyer rebates apply. Land Tranfer Tax is applicable to any purchase. *Tax will depend on the value of the property, whether or not it is located in Toronto and whether first time home buyer rebates apply. *Adjustments for property taxes, fuel oil, condominium fees, etc. are shown as adjustments on Statement of Adjustments and not as disbursements. Note that these are estimated disbursements. They can change (especially search fees) if a problem arises or a preliminary search reveals a potential problem. * These are estimated costs only. Not Guaranteed. Please review with Lawyers for up-to-date costs. $75.00 $ $ $25.00 $ $ $ $72.00 $ $ $25.00 $65.00 $ Signature: ___________________ Date: ______________ Witness: ______________________

11 Do the math The Point Zero One Realty Ltd. Way: Listing Price: _________________ Multiply by 3.5% X.035 = _________________ Plus Admin Fee: + $350 SubTotal _________________ Plus HST x.13 = _________________ Plus Subtotal: _________________ Total A: _________________ The Point Zero One Realty Ltd. Way: Listing Price: _________________ Multiply by 4, 4.5, 5 or 6% X.0____ SubTotal = _________________ Plus HST x.13 =_________________ Plus Subtotal: _________________ TotalB: ______________ Now take the total of COMPARE minus the Point Zero One Realty Ltd. Way Total B: _________________ Minus Total A: - _________________ Saving you: =_________________* And Dont forget we include Lawyers Fees. Do they?


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