Selling during the winter

Most experts agree that it’s best to sell your home during the spring and summer. Home buyers with children, for example, usually try to move during the summer when the kids are out of school.

That’s one reason to sell a home during the summer. For this and other reasons, selling a home in the winter should be avoided whenever possible.

But sometimes, you just don’t have a choice. Sometimes you have to sell the home in winter for any number of reasons. Maybe you cannot afford the home any more and need to sell it fast. Or maybe you have a job transfer that requires you to move during winter.

Whatever the reason, you need not despair. While selling a home during winter does present certain challenges, it is by no means impossible. On the contrary, if you follow the selling techniques and tips in this article, you should be able to sell your home in the winter nearly as easily as you would in the summer.

And who knows, depending on the market you are in, you may even sell the home fast in spite of it being the winter months.

1. Selling in Winter Requires Patience

Homes don’t sell as quickly in the winter as they do in the warmer months. That’s just a fact you’ll have to live with. Of course, there are always exceptions to the rule, and the speed with which a home sells depends on the local real estate market.

But the bottom line here is that you will have fewer buyers visiting the home when selling in the winter (as opposed to spring or summer). This means the home could be on the home longer, so you will have to be patient with the process.

With that being said, the subsequent tips and techniques for selling during winter may shorten the time on market and help you secure a quick sale! So let’s move on.

2. Contrast the Cold With the Warmth

Believe it or not, you can actually take advantage of winter conditions to help sell your home during the colder months. The best way to do this is by showcasing the warmth and coziness of your home.

Picture this scenario. Potential home buyers John and Jane visit your home with their real estate agent. It’s cold and windy outside, the kind of weather that makes you want to hunker down someplace warm. They open the front door and walk inside. The house is warm and well lit. A fire crackles softly in the fireplace. The smell of gingerbread cookies — recently baked on offered up on a glass plate — fills the air.

Now doesn’t that make you want to say “Aaaaaah”? It will do the same for buyers. So simply by showcasing the warmth of your home you have a better chance of selling during the winter cold.

You can think about it in terms of both psychology and physiology. The first physical impression will be one of warmth and relaxation, just as soon as the buyers walk in. This will lead to a favorable mental impression as well, and the buyers will carry this impression with them through the rest of the home.

3. Protect Floors From Winter Elements

When selling a home in winter it’s perfectly acceptable to ask people to remove their shoes upon entering. This is especially important if you live in a snowy region of the country. Slush, gravel and salt (from those de-icing trucks) can wreak havoc on carpets and wood floors.

This will help you in two ways. First, it shows buyers that you care about the cleanliness of your home. And if your floors are noteworthy in some way (new carpet, nice wood floors, etc.), the buyers will immediately notice this feature. You can be sure the first thing they will do when seeing a “remove shoes” sign is to examine the floors.

You can almost hear them saying: “Oh yeah, this house does have nice carpet / floors … let’s remove our shoes. Who knows, they might be our floors someday soon.”

This technique is easily put into practice. Simply use an attractive welcome mat inside the front door, and put a sign someplace visible that says: “Please remove shoes when entering.” Or, if you’re the creative type, you could say something like this: “The weather outside is frightful. Removing your shoes would be delightful.”

However you handle it, this is a practical and useful tip for selling your home in winter — especially in an area with snow or rain outside.

Importance of curb appeal

Picture this. A couple pulls up in front of the home you are selling. They are potential buyers, and they are out with their real estate agent shopping for homes. The roll the windows down, take one look at the yard and the front of the home, and then they drive away without even getting out.

This is an example of curb appeal (or the lack of it) turning away potential buyers before they’ve even seen the inside of the home. And it happens all the time. So when you are staging your home for sale you must include the home’s outer appearance, including the yard.

In other words, you must strive for the kind of curb appeal that makes a great first impression and pulls people into the home. The curb appeal tips and ideas below will help you get started. But first, let’s cover a bit of terminology…

Curb Appeal Defined

When potential buyers pull up to the curb in front of your home, you want the home to appeal to them as much as possible. This gives a good first impression, so it should part of your home staging checklist.

Here are some tips to help you stage your home’s exterior for maximum curb appeal (and a better chance of selling the home).

Staging Your Home’s Exterior

• Begin the process by creating a list of items that need your attention. The best way to do this is to stand out by the curb in front of your home (much like a buyer would). Take a notepad with you, and jot down any issues that “leap” out right away.
• Pay particular attention to the health and status of your lawn, the paint on your home’s exterior, flowers and shrubs, and the home’s entryway.
• Now have a friend or family member perform a similar inspection. Tell them to be as honest and objective as possible. It should only take them about ten minutes to spot areas that need attention. Combine their list with your list.
• Keep the lawn mowed and neatly edged. A nicely mowed lawn does wonders for curb appeal, so you might have to mow every few days while the home is on the market (depending on where you live, season, etc.).
• Have your windows professionally cleaned. Windows that sparkle add a nice finishing touch to your overall curb appeal “package.”
• Paint schemes are a big part of curb appeal. So if your home’s exterior paint is faded, chipped or otherwise in bad shape, give it a fresh coat. Give special attention to doors, shutters and trim.
• The paint scheme should be cohesive. So if the shutters and doors are different colors, you should probably make them the same. When standardizing the color scheme, choose the more neutral color of the two.

Start Early With the Lawn

It’s important to remember that lawn improvements take time. If, for example, your lawn is patchy, brown or weedy, you may need to call in the professionals to get it back to beautiful as quickly as possible. Unlike a paint touch-up or a faucet upgrade, there are no quick fixes with a lawn. So start your lawn treatment as early as possible before listing the home for sale.

Curb Appeal Conclusion

Remember, potential home buyers will see the exterior of your home before they see the interior. If the outside of the home (the yard, the paint, the entryway) makes a bad first impression on buyers, they will bring that negativity inside the home with them. So when staging your home for sale be sure to work on the home’s exterior as well.

More photos = More viewers

A study by Point2 Technologies, a provider of website and listing syndication software for real estate professionals, says home buyers are more attracted to online listings that have lots of photos.
 
The study set out to examine the impact of photos in driving real estate transactions, as part of a broker’s or agent’s online marketing efforts. Point2 Technologies says the results strongly suggest that adding more photos generates a better response to real estate listings.
 
Listings that did not include any photos performed very poorly, generating little consumer response and business, says the company. The study showed that listings with zero photos attract, on average, 0.02 per cent of the detailed listing views that listings with 21 to 36 photos enjoy. Listings that featured a single photo fared significantly better.
 
“Once again the data indicates that online home shoppers want rich content, specifically in the form of more photos, otherwise they intend to move on to the next listing,” says Carey Tufts, director of marketing, Point2 Technologies. “Especially in today’s market, home sellers and their agents do not have to take this risk. The data sends a powerful message. With more than 80 per cent of home buyers continuing to do their research online, agents must attach more photos to their listings for them to stand out and attract more potential buyers.”
 
Compared to listings with only one photo, those with 21 or more photos generated more than triple the number of detailed views, more than double the amount of interest, and double the number of leads, says the study. Compared to listings with no photos, those with 21 or more photos generated more than 55 times the number of detailed views, nearly 27 times the amount of interest, and 898 times the number of leads.

I provide virtual tours and atleast 30 photos with all my listings at no extra cost. If interested in finding out more drop me an email.

Benefits of home staging

What are the benefits?

• Faster sales time. 
• Higher sales price. Nationally, most staged homes are selling for their original asking price which is 4-8% higher than other sold properties.
• Stand out from the competition. Get the edge by having the best buy on the market.
• Buyers feel home is well maintained helping eliminate low offers.
• Increase showing times. Buyers have an invitation to stay longer and make an offer.
• Buyers are focused on the features of the home and not the stuff in it.
• Staged homes showcase better on websites and in other advertising.
• Create buzz with brokers. Who doesn’t want to sell a house that looks like a cover of a magazine?
• Professional stagers provide an honest independent third party assessment of a home from curb to closet. Sellers cannot truly be objective in a house they have been living in. Stagers have the experience and ideas to help sellers get their house ready and work closely with Realtors to help get a house sold.
• Staging is investment in getting a house sold and the investment in staging is always less than a price reduction! A good stager works with a sellers’ budget and time frame to properly Stage a house. When compared with the other costs associated with the sale or purchase of a home, staging is very reasonable.
• They showcase very well on virtual tours.

For questions on the Brampton or Georgetown / Halton Hills real estate markets you can reach me at textvic@gmail.com

How to sell in a buyer’s market

Brampton (actually pretty much all of Canada) has enjoyed a seller’s market for several years now. The tables are however turning. The U.S economic crisis has finally started effecting Canada and most of the world. In November 2007 543 houses were sold in Brampton and so far this November only 283 houses have been sold in Brampton.

Not everyone is complaining though. Buyers couldn’t be happier. Those who have job security are all smiles because finally the prices have started to stabilize, and there are more listings on the market to choose from. For a few years if there was a property that a buyer wanted to buy chances were 10 other people wanted to buy it also. Bidding wars became very common and the prices kept skyrocketing.

So how do you sell in a buyer’s market? First off: if you don’t have to sell then don’t. Just wait it out till it becomes a seller’s market again. If you must sell because of your situation then be sure to price it right. You just cannot these days price it high to test the market or to leave lots of room for negotiation. If the house is worth $300,000 then be sure to price between $294,000 to $301,000.  Ask your agent to give you weekly updates on market conditions. If similar houses start selling for $295,000 then you need to know that and unfortunately keep adjusting your price.

Second thing you can do to increase your chances of getting your house sold in Brampton (or Georgetown / Halton Hills) is to offer the buyer agent a bonus.  There are so many listings competing for that one buyer now. The buyer relies on his agent to show him the appropriate houses. If you offer that agent a bonus then you can be sure your house will be on his list to show. Some listings I’ve seen are also offering buyers bonuses. A multimillion dollar listing was offering a brand new car to attract buyers!

Renovations help. However, keep your budget in mind. No point in spending $10,000 on renovations and gaining only $5,000 in the selling price. Another thing  you can do is to hire an agent who has the experience and skills needed to sell in this kind of market. He will be able to give you more specific pointers.

Questions to ask an agent

For the past few years the Brampton real estate market had been booming. So ofcourse a lot of people decided to take up real estate selling as a profession (Brampton and Georgetown saw a lot of new registrants). Not everyone is cut out for sales however. That is why you must be sure that the agent you hire to sell your house is the best bang for the buck. Before you list your house with an agent there are some important things you should know about them. These questions are a good guideline.

1. How long have you been in the business?
2. How many sales did you do last year in Brampton? How many of them were your own listings?
3. Can I speak with your past clients?
4. Do you specialize in Brampton?
5. Is this a good time to sell?
6. How will you market my home?
7. How much commission do you charge?
8. Are your services promised in writing?
9. Can I cancel the listing if I’m not satisfied? Is there a penalty?
10. Do you do virtual tours? Are the pictures taken by a professional?
11. Can I see samples of your Feature Sheets?
12. How often will you keep me updated?
13. Do you follow up with agents for feedback?
14. Will you hold open houses?

If you own a house in Brampton it is very important to get a Brampton agent (or atleast someone who specializes in Brampton). They will know how much the houses are selling for and what’s in demand.

If you have questions about the Brampton or Georgetown real estate market drop me an email.

What does a seller’s lawyer do?

Did you just sell your Brampton house? Are you wondering what your lawyer will be doing for you and how much the charges will be? For sellers the cost is usually between $600 – $700 (give or take).

Here’s what your lawyer will do to assist you in making the sale of your home hassle-free:

• Do a complete review of the purchase agreement.
• Provide answers to the purchaser’s lawyer regarding title.
• Prepare transfer of title documents.
• Review any mortgage transactions.
• Close the transaction.
• Pay the appropriate commissions.
• Pay any outstanding claims against your property.
• Pay off your mortgage (if necessary).
• Forward the balance of the money from the sale to you.
• Provide a complete statement reporting all transaction.

The market is slowing down. Brampton and Georgetown will no doubt be hit hard as well. Consider yourself lucky if your house has already sold.

For more information on the Brampton or Georgetown real estate market drop me an email.

The benefits of virtual tours

The advent of the Internet has changed all sorts of businesses and transactions that people go through in the course of their lifetime, and real estate is no exception. The use of the Internet in selling homes has completely changed the way in which real estate transactions are done.

One big part of the shift to an online real estate market is the concept of the virtual tour. It’s a pretty easy idea to understand; a home owner, or their real estate agent, or an individual hired by that real estate agent, shoots pictures or video coverage of the house for sale, including all rooms, the exterior and the interior. These images are then uploaded onto an Internet page where potential buyers can view them.

The virtual tour has several advantages for those wishing to sell their homes. Let’s take a look at them.

Targeted market. A virtual tour can really thin the crowd of potential buyers. Many times people will realize that they are not in the market for a particular home after visiting it the first time, so the seller may not see an offer even though several different potential buyers are scheduled to look through it. It can be frustrating, but when a virtual tour is available people can decide whether or not they like the look of the house on first glance without getting your hopes up. In Brampton there are thousands of homes for sale at anytime. One way to stand out is to have a virtual tour and qualify people before they even come in.

It allows you to showcase your home right away. Some houses, like some people, just don’t photograph well on the exterior, but a look inside will demonstrate value. A virtual tour lets you overcome the handicaps of appearance and season on the outside and show potential customers that your home is meant to be lived in.

No more open houses! Many home sellers and real estate agents malign the open house. It can be very difficult to organize, too many people have access to one’s home, and no one is really sure how well they work. A virtual tour will mean that an open house function of breaking the ice between the prospect and the home served by the idea of an open house is already taken care of, eliminating a major headache. If you live in Brampton and have gone shopping on the weekends you know how many open house signs you see on every intersection. A lot of people after their shopping (who have no intentions of buying a house) decided to visit those open houses. Just because you get a lot of visitors doesn’t mean the open house was a success.

Show the house how you want it. With a virtual tour, you can show off your house how you want it, at its very best condition. No need to clean every time the phone rings until those who have already seen it line up an appointment!

Setting up a virtual tour is a great idea for any home seller. It allows potential buyers to become familiar with a house on the market without the hassle and disappointment that can come with first time showings.

For more information on the Brampton or Georgetown real estate market drop me an email.