You Sign the Listing and Then What?

You sign a Listing Agreement; the "For Sale" sign goes up on the lawn, and then what? What is it that will bring prospective Buyers into your home?

The "For Sale" sign is possibly the best selling tool you will have when you are trying to sell your home. But it's not the only one, and it's not the first thing you should think about. One of the first things your REALTOR® will help you with is lots of solid advice on how to prepare your house; it should appear in the best possible light to impress Buyers.

Your house should be as clean and neat as possible. Remember that a potential Buyer will be curious enough to check out all the hidden spots in the basement, the garage and other areas you may tend to overlook in your normal cleaning.

To bring your house up to top-notch appearance, your REALTOR® may suggest some minor repairs, some painting or surface decorating. He or she may also suggest minimizing the clutter that you may have overlooked, those "treasures" collected over the years will not always be as appealing to others as they are to you. Remember that a little elbow grease on your part can result in a better price for your property and a faster sale.

REALTORS® are experts at assessing the proper sale price for houses. They have both the training in this area and the comparative background statistical information to arrive at the best selling price. Buyers are usually checking out the competition and are quick to know whether a house is priced too high or too low. When you have set the price and done the necessary clean-up, then the "For Sale" sign can go on your lawn.

If your Listing Agreement is a Multiple Listing Agreement (as used by all licensed REALTORS® in the province of British Columbia), details about your property will be made available to other REALTORS® who have potential Buyers they are working with. Also, the REALTOR® who is listing your property probably has a prospective customer or two and they will be quick to bring them in to look at your house.

Your REALTOR® may suggest having an Open House. These usually last for two or three hours on a weekend afternoon. If you have an Open House scheduled, it is best for you and your family be elsewhere during that time. Prospective purchasers often find it difficult to give the house a really good look if the owner is present and they may not give your home the attention it deserves. Since strangers will be in your house, although they will be supervised by the REALTOR®, you should make sure you have hidden away your personal valuables.

An Open House is a good complement to the "For Sale" sign on your lawn. The sign draws attention to your house, its outside appearance, size or neighbourhood; the Open House will give people the opportunity for a closer look inside.

Selling a house can be a complex task but, as an expert, your REALTOR® knows all the ins and outs. You can depend on your REALTOR® when you decide to sell your home.

I am the GUY that will make a difference! 

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/

How to Get Top Dollar for your Home, Fast!

Your home is likely your largest asset, so selling it may be the biggest financial move you’ve ever made, one that requires significant thought and strategy.  However, once you’ve entered the market, the process may move very quickly:  your property has the best chance to sell within its first seven weeks on the market.  Studies indicate that the longer a property stays on the market, the less it will ultimately sell for.  So, you need to ensure you’re ahead of the game.  Get your property into top selling shape before it hits the market in order to increase its chances of selling within the desired window of time and drawing top dollar.

Use the following tips to seize control of the home-selling process before you begin:

1. Establish the Reasons you Want to Sell your Home:

 These reasons will direct the path you take in the home-selling process.  If, for example, you have already purchased a new home and your goal is to make a quick sale on your current home, this reason will chart your approach.  If, on the other hand, you aim to net the highest price possible for your home, you would need to prepare yourself for a potentially slower process.  Be clear about these reasons, as they will directly influence the amount of time and effort you put into preparing your home for sale, and the amount you set for your asking price.

2. Pricing:

 It is essential you list your property at a competitive market value right from the start.  The competitive nature of the market means that over-pricing by a few thousand dollars could make the difference between your home selling quickly or not selling at all.  Overpricing your home could potentially yield the following results:  minimized offers, fewer showings, fewer agent responses, limited financing, limited buyers qualified for your type of home, or a smaller net price.  You can avoid these outcomes by setting the price of your home at its market value when you first list. 

If you are unsatisfied with the current market value of your home and unwilling to list it as such, consider putting off the sale of your home at this time.

3. Do your Homework:

 Perhaps the most “hands-on” approach to educating yourself about the nature of the current market—what works and what doesn’t—is to explore other homes on the market.  Take advantage of Open Houses in your area, particularly in those homes similar to your own.  Take some notes.  Observe floor plans, lot size, appearance, location, and other features of the property.  Then compare asking prices.  Go through this process before setting your own asking price.  Remember:  you want to get a selling price as close to your asking price as possible.  And if you want to attract this price quickly, you won’t accomplish this by setting your price higher than your neighbour’s.

4. Decide Whether to Invest in an Appraisal:

 Getting an appraisal can be a positive or negative move, depending on the outcome.  It’s up to you to determine how it might fit into your personal plan.  Having an appraisal done can be a good marketing strategy, indicating to potential buyers that your home can be financed, which will increase the chances that your home will sell quickly and for more money.  On the other hand, however, there’s no guarantee you’ll like the final picture offered by the appraisal.  Also, it’s one more cost you’ll have to add to your budget, and an appraisal only lasts for a limited period of time. 

5. Choosing a Realtor:

 Your choice of Realtor will greatly influence your home-selling experience.  For better or for worse, this person will be with you every step of the way during one of the largest financial ventures of your life—and will make a difference in the speed with which your house is sold, and how much it sells for.  Don’t take this relationship lightly.  You should consider a few Realtors before you narrow down your choice.  Of course, one of the initial factors to consider will be whether the Realtor’s personality and enthusiasm is a fit for you and your family.  Also, each candidate should be able to provide you with information on the following areas:  the length of time s/he has been involved in residential real estate in your area, the marketing strategy s/he would use to sell your home, details on other properties in your area their company has sold (how much the property sold for and how long it spent on the market), and his/her philosophy or method of negotiation.  You might want to request a reference list of former clients as well.  Choose a few names on the list and call them.

6. Cleanliness:

Make no mistake, prospective Buyers will be turned off by even a minimal lack of cleanliness, or an odour.  Sellers may lose thousands of dollars if they fail to thoroughly clean the house before they begin to show it.  Begin by clearing the house of excess junk, clutter, and furniture.  Create more space.  Make every room sparkle.  Eliminate odours.  You may be the last to notice a peculiar odour in your house, but it may be the first thing a potential Buyer notices.  So, air out your house prior to showing.  Keep pets in the yard as much as possible, and send any household smokers outside. 

7. Access to your Home:

Agents will be more reluctant to show your home if it isn’t readily accessible.  They don’t want to waste their time running around, picking up and dropping off keys.  Rather, a key should be immediately available for agents at all times. 

Also, go through the following last-minute list to prepare for showing your home:  keep all lights on, doors unlocked, and drapes and shutters open.  If you can, leave the house while it is being shown.  Head to the local coffee shop, or take the kids to the park.  Prospective Buyers will feel more intrusive if the owner of the house is present while they are viewing.  If you can’t leave the house, be as unassuming as possible. 

8. Updated Interior:

A fresh coat of paint may be one of your best investments when preparing your home for the market.  New paint can take years off the appearance of your home, dramatically increasing its perceived value.  Likewise, if your carpeting appears worn, old, or is an outdated pattern, consider replacing it.  The carpet or paint in one room could be the difference between a successful sale and your home being overlooked.

9. Drive-Up Appeal:

 If the buyer doesn’t like the outside of your house, s/he may choose to skip it entirely.  It is essential that your home possess a certain “drive-up appeal.”  Remember, a potential buyer’s first impression of your house is formed while s/he is still sitting in the realtor’s car.  Ensure the trees are trimmed, the walkway swept, the lawn cut.  Paint the door, and put out a new, plush door mat.  All of these little things will contribute to the overall effect of a well cared-for and welcoming home.

I am the GUY that will make a difference!

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake. 

Karen Guy, 

REALTOR® 

Coldwell Banker Horizon Realty

C 250.878.3605 O 250.768.8001

http://www.connectwithkaren.com/

How to Get Top Dollar for your Home, Fast!

Your home is likely your largest asset, so selling it may be the biggest financial move you’ve ever made, one that requires significant thought and strategy.  However, once you’ve entered the market, the process may move very quickly:  your property has the best chance to sell within its first seven weeks on the market.  Studies indicate that the longer a property stays on the market, the less it will ultimately sell for.  So, you need to ensure you’re ahead of the game.  Get your property into top selling shape before it hits the market in order to increase its chances of selling within the desired window of time and drawing top dollar.

Use the following tips to seize control of the home-selling process before you begin:

1. Establish the Reasons you Want to Sell your Home:

 These reasons will direct the path you take in the home-selling process.  If, for example, you have already purchased a new home and your goal is to make a quick sale on your current home, this reason will chart your approach.  If, on the other hand, you aim to net the highest price possible for your home, you would need to prepare yourself for a potentially slower process.  Be clear about these reasons, as they will directly influence the amount of time and effort you put into preparing your home for sale, and the amount you set for your asking price.

2. Pricing:

 It is essential you list your property at a competitive market value right from the start.  The competitive nature of the market means that over-pricing by a few thousand dollars could make the difference between your home selling quickly or not selling at all.  Overpricing your home could potentially yield the following results:  minimized offers, fewer showings, fewer agent responses, limited financing, limited buyers qualified for your type of home, or a smaller net price.  You can avoid these outcomes by setting the price of your home at its market value when you first list. 

If you are unsatisfied with the current market value of your home and unwilling to list it as such, consider putting off the sale of your home at this time.

3. Do your Homework:

 Perhaps the most “hands-on” approach to educating yourself about the nature of the current market—what works and what doesn’t—is to explore other homes on the market.  Take advantage of Open Houses in your area, particularly in those homes similar to your own.  Take some notes.  Observe floor plans, lot size, appearance, location, and other features of the property.  Then compare asking prices.  Go through this process before setting your own asking price.  Remember:  you want to get a selling price as close to your asking price as possible.  And if you want to attract this price quickly, you won’t accomplish this by setting your price higher than your neighbour’s.

4. Decide Whether to Invest in an Appraisal:

 Getting an appraisal can be a positive or negative move, depending on the outcome.  It’s up to you to determine how it might fit into your personal plan.  Having an appraisal done can be a good marketing strategy, indicating to potential buyers that your home can be financed, which will increase the chances that your home will sell quickly and for more money.  On the other hand, however, there’s no guarantee you’ll like the final picture offered by the appraisal.  Also, it’s one more cost you’ll have to add to your budget, and an appraisal only lasts for a limited period of time. 

5. Choosing a Realtor:

 Your choice of Realtor will greatly influence your home-selling experience.  For better or for worse, this person will be with you every step of the way during one of the largest financial ventures of your life—and will make a difference in the speed with which your house is sold, and how much it sells for.  Don’t take this relationship lightly.  You should consider a few Realtors before you narrow down your choice.  Of course, one of the initial factors to consider will be whether the Realtor’s personality and enthusiasm is a fit for you and your family.  Also, each candidate should be able to provide you with information on the following areas:  the length of time s/he has been involved in residential real estate in your area, the marketing strategy s/he would use to sell your home, details on other properties in your area their company has sold (how much the property sold for and how long it spent on the market), and his/her philosophy or method of negotiation.  You might want to request a reference list of former clients as well.  Choose a few names on the list and call them.

6. Cleanliness:

Make no mistake, prospective Buyers will be turned off by even a minimal lack of cleanliness, or an odour.  Sellers may lose thousands of dollars if they fail to thoroughly clean the house before they begin to show it.  Begin by clearing the house of excess junk, clutter, and furniture.  Create more space.  Make every room sparkle.  Eliminate odours.  You may be the last to notice a peculiar odour in your house, but it may be the first thing a potential Buyer notices.  So, air out your house prior to showing.  Keep pets in the yard as much as possible, and send any household smokers outside. 

7. Access to your Home:

Agents will be more reluctant to show your home if it isn’t readily accessible.  They don’t want to waste their time running around, picking up and dropping off keys.  Rather, a key should be immediately available for agents at all times. 

Also, go through the following last-minute list to prepare for showing your home:  keep all lights on, doors unlocked, and drapes and shutters open.  If you can, leave the house while it is being shown.  Head to the local coffee shop, or take the kids to the park.  Prospective Buyers will feel more intrusive if the owner of the house is present while they are viewing.  If you can’t leave the house, be as unassuming as possible. 

8. Updated Interior:

A fresh coat of paint may be one of your best investments when preparing your home for the market.  New paint can take years off the appearance of your home, dramatically increasing its perceived value.  Likewise, if your carpeting appears worn, old, or is an outdated pattern, consider replacing it.  The carpet or paint in one room could be the difference between a successful sale and your home being overlooked.

9. Drive-Up Appeal:

 If the buyer doesn’t like the outside of your house, s/he may choose to skip it entirely.  It is essential that your home possess a certain “drive-up appeal.”  Remember, a potential buyer’s first impression of your house is formed while s/he is still sitting in the realtor’s car.  Ensure the trees are trimmed, the walkway swept, the lawn cut.  Paint the door, and put out a new, plush door mat.  All of these little things will contribute to the overall effect of a well cared-for and welcoming home.

I am the GUY that will make a difference!

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake. 

Karen Guy, 

REALTOR® 

Coldwell Banker Horizon Realty

C 250.878.3605 O 250.768.8001

http://www.connectwithkaren.com/

I am the GUY that will make a difference! I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake. Karen Guy, REALTOR® Coldwell Banker Horizon Realty C 250.878.3605 O 250.768.8001 http://www.connectwithkaren.com/

How to Set an Offer Price

There is no set equation to determine how you’ll reach an offer price.  Rather, the process involves a range of research and comparison that will vary with each situation.  You’ll need to look at sales of comparable properties, and factor in additional data such as the condition of the property, the current market, and seller circumstances.  With this information in hand, you will be able to determine a fair price range and, from there, establish the price you’re willing to offer.

Concentrate on the following areas to help you determine an offer price:

Comparable Sales

• Compare prices of homes that are similar to the property you’re considering in the following areas:  number of bedrooms and bathrooms, square footage, lot size, type of construction, and garage space.
• The most comprehensive and in-depth information can be accessed through the Multiple Listing Service (MLS).  Your Realtor, who will be working closely with you to set your offer price, can help you navigate this service. 

Property Condition

• Observe how the property compares to the rest of the neighbourhood.  Is it average, above average, or below average?
• Look at structural condition:  walls, ceilings, windows, floors, doors.
• Pay close attention to:  bathrooms, bedrooms, condition of plumbing and electricity.
• Also check the fixtures:  light switches, doorknobs, drawer handles, etc.
• What is the condition of the front and back yards?

Home Improvements

• Cosmetic changes can be largely ignored, but any major improvements should be taken into account.
• Take special note of:  room additions (especially bedrooms and bathrooms).
• Items such as swimming pools may be taken into account, but usually won’t affect your offer.  Your Realtor can offer your guidance in these matters.

Market Conditions

• Seller’s Market:

A seller’s market is considered a “hot” market.  This type of market is created when demand is greater than supply—that is, when the number of Buyers exceeds the number of homes on the market.  As a result, these homes usually sell very quickly, and there are often multiple offers.  Many homes will sell above the asking price.

• Buyer’s Market:

A Buyer’s market is a slower market.  This type of market occurs when supply is greater than demand, the number of homes exceeding the number of Buyers.  Properties are more likely to stay on the market for a longer period of time.  Fewer offers will come in, and with less frequency.  Prices may even decline during this period.  Buyers will have more selection and flexibility in terms of negotiating toward a lower price.  Even if your initial offered price is too low, Sellers will be more likely to come back with a counter-offer. 

• Balanced Market:

In a balanced market, supply equals demand, the number of homes on the market roughly equal to the number of Buyers.  When a market is balanced there aren’t any concrete rules guiding whether a Buyer should make an offer at the higher end of his/her range, or the lower end.  Prices will be stable, and homes will sell within a reasonable period of time.  Buyers will have a decent number of homes to choose from, so Sellers may encounter some competition for offers on their home, or none at all.

Comparable sales information helps you establish a price range for the home you’re interested in.  Adding in the additional factors mentioned above will guide your decision of whether you consider a “fair” price to be near the upper or lower limit—or the middle—of that range.  Keep in mind, this price should be the one you’d be happy with once all negotiations are said and done.  The price you decide to begin with depends on your particular style of negotiation.  Most Buyers begin the negotiation process with a number lower than the “fair” price they’ve come up with.

I am the GUY that will make a difference!

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake. 

Karen Guy, 

REALTOR® 

Coldwell Banker Horizon Realty

C 250.878.3605 O 250.768.8001

http://www.connectwithkaren.com/

Time to Sell

 Well, you’ve finally made the decision to sell!!!

But now where do you turn or who do you call?

Choosing the right REALTOR® is the first important decision to make.

Take the time to interview and ask questions.

Choosing the wrong REALTOR® can lead you down a path of frustration and worries. Who has time for that?

Let’s face it your home is probably your most valuable asset.

You need a Kelowna REALTOR®, who is invested in the process of looking after your best interests, you need someone you can depend on and trust to give you consistent and accurate information.

That person is me, Karen Guy, your West Kelowna Real Estate Professional.

I work very hard to make sure the selling experience for you is a positive and stress free one.

In today’s real estate market simply signing a listing contract and putting a sign up on the front lawn just isn’t enough to achieve results and satisfy today’s savvy home seller.

Both networking and the ability to be technologically advanced play key roles in the successful sale of properties. I aim to keep my clients ‘in the loop’ with informative and consistent communication.

I have an effective and recognizable marketing program that will help you get the results you are looking for. The Kelowna Real Estate market is very robust so this means there will be more competition out there. I will help you price your home according to today’s market so that you will sell within an agreed price range.

If you are interested in selling your home and decide to interview a Kelowna REALTOR®, I would be honored to be considered.

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Please contact me if you have any questions about buying or selling a home. My priority is to provide you with the ultimate service that will continue to make me your real estate agent of choice not just for today but tomorrow and always.

I am the GUY that will make a difference!

 I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/