De-stress When Selling a London Ontario Home

Whether you’ve lived in your home in London Ontario for awhile, you know it’s not just a shelter, or even another investment.  It’s the place where your dreams came to life, or unfortunately for some, ended.

Moving from a house or a condo

So, there comes a day when it’s time to move on.  You have taken the time to reflect on old memories, and prepare to build new ones.  You have decided it is time to leave the past behind for a new future.  It’s no wonder why buying or selling a home is often emotionally charged and potentially overwhelming.

   When you are thinking of selling your home in London Ontario, there are a number of things to think about, to prepare for, and to organize. 

   The price you are thinking or wishing to sell your home for is usually the first concern for most, and that I can truly appreciate.

  With the housing market being very strong in London Ontario, your home will definitely sell so perhaps you may want to ask yourself the most important question of all, “How can I maximize the sale price?”  

 Determining your bottom line based on accurate information BEFORE you list your home in London Ontario will give you peace of mind, clarity and a sense of security.

  I can write this because my clients have told me that not only did they get their price in the time line they wanted, the process was less stressful than they thought!

Keep in mind that information is available every where about selling a house or condo in London Ontario, but not insight!

  happy sellers with Envelope Real Estate

How Buyers Can Find Your London Ontario Home

Where Does a Buyer See Your Home First?

96% of homes sold have been previewed by buyers on the web, either through Realtor’s websites, MLS  or social media ! That is a huge number and why it is extremely  imperative when putting your home on the market  to have a great web presence or three!

I sell homes

 Below is How Buyers See Homes Before They Buy 

  • 59%  Salesperson contact
  • 27% For Sale Sign
  • 8%  Referred by a relocation service ( I work with 3 national companies)
  • 3% Bought for a combination of reasons
  • 1% Bought advertised property in a magazine or print ad
  • 1% Bought open house they saw
  • 1% For Sale by Owner

  Knowing these numbers and how buyers find your home among all the other homes on the market out there will enable you to make some wise decisions when it comes time to put your home on the market.

   Exposure and traffic sells homes! I sell homes, I do not just list them! 

Sutton Group Leads Sales

How to Get More Money For Your London Ontario Home

  Here’s an informative  guide  to  help  you  realize the  most  profit  from your London Ontario home,  and perhaps avoid  costly  repair  rip-offs.

There’s a little-known dynamic in real estate that can dramatically affect the successful, top dollar sale of your home.

The Elements That Motivate a Quicker Home Sale…

Are the Same Elements That Sell Homes for Top Dollar

      Each year thousands of homeowners needlessly lose thousands of dollars when selling their home.  But they don’t lose the money for reasons you might think. They lose money because they unknowingly left it on the table…for the buyer to pocket…by failing to recognize the hidden profit potential of their home.

And those hidden profits exist in two areas.

First, most homeowners never discover that certain small, even inexpensive repairs to their existing home could generate many times their cost in additional home value.  But on the other hand, other repairs and improvements can cost you dearly.  It’s critical to know what repairs and improvements to spend money on…and which ones to leave alone.

Second, when many savvy homeowners decide to make profitable repairs before selling, they expose themselves to the ruthless world of some contractors and their potentially deceptive schemes that drive up the costs of home repairs.Get More Money for your London Ontario Home

Between not knowing what to repair for maximum profit, and dealing with the world of contractor woes, it’s easy to understand how you might become overwhelmed with the whole process.  But don’t despair.

That’s Why I Created This Helpful Report

       I am going to reveal to you exactly what areas make sense to fix and what areas to leave alone…not using “opinion,” but real world facts.  Then, I’m going to give you a “behind the scenes tour” of the games some contractors play when fixing your home (by the way, not all contractors are sinister – I know many with stellar reputations).

This way you’ll be armed to the teeth with knowledge and strategies to stay one-step ahead of the game…and maximize the value of your home when you sell.

Many of the improvements that have the most value for you as a homeowner end up being the worst-performers as far as resale value is concerned.  ​

I will cover:

  • How to Select Home Improvements That Pay Dividends

  • Functional and Structural Improvements 
  • How to Dodge Repair Rip-Offs When Improving Your Home

  • Selecting Painters     

 

  • Selecting Plumbers

  • Selecting Electricians

  • Selecting Roofers

  • Selecting HVAC Specialists   

Here it is

Choosing a Real Estate Person to Sell A Home in London Ontario

           Our Core Values. Not All Realtors Are The Same!

It is both mine & the brokerage’s goal to consistently provide the highest quality, most innovative and exceptional real estate service available anywhere in the London and surrounding areas.

Our client’s needs always come first. We are not # 1, you are! We strive to always provide value far in excess of what other real estate sales representatives do. Our constant goal is mutual respect, and long term relationships that are beneficial to all parties.

We run a clean, organized, and efficient real estate brokerage.

We do not rest on our accomplishments. We constantly strive to create, develop, and implement new ideas, strategies, and services that will benefit our clients.  We endeavor to seek continuing education in all aspects of our business to increase the level of service we offer our clients.

Core Values

  • Brutal honesty at all times and in all situations.
  • Strategically driven, not market driven
  • Continually improve
  • Create and nurture a fun, exciting, creative and productive work environment.
  • Work with only the most enjoyable and motivated clients and co-workers.
  • When having the choice to being right or being kind, be kind

Sellers come to us because of our reputation for getting homes sold; buyers come to us because of our reputation of having desirable properties- many to choose from!

We are:

  • A firm that is known in the community to have a reputation for professionalism.
  • A firm that invests a considerable amount of time & money exposing real estate to attract qualified buyers.
  • A firm that can serve you and a buyer with hundreds of different financing sources to assure qualified buyers can obtain the funds to buy your property.
  • A firm that has at its fingertips a contact list of skilled trades, movers, cleaners & legal & financial professionals.
  • A firm that will screen possible buyers so only those who are qualified, that is, who can afford and have the money to buy your property. (See our Dedicated Buyer Program. We attract high end buyers daily!)
  • A firm that is not afraid to tell you the brutal truth and not just what you want to hear.
  • A firm that sells properties, not just lists them!
Sold

Sold by Ty Lacroix

To make sure Sutton Group Envelope Real Estate Brokerage is more than prepared when we work with a home seller, we always make sure we are 100% certain of what will lead to a timely sale for the best possible price before any property we represent even gets near the active London Real Estate market.

Those extra few days, effort and diligence we spend is to make sure it is being done right and saves home sellers weeks if not months of market time in the end and is worth every second of preparation it takes.

 First impressions are everything

A recent study has shown that over 94. 6% of all homes sold were viewed for the first time on the internet by the eventual buyer. This is an enormous change in a short time for the real estate industry and has literally made how well a real estate company in London “markets” a property their most important skill set.

At Sutton Group Envelope Real Estate we truly grasp that technology plays a huge role in the art of selling a home and we are always up on the latest technology, but at the same time, understanding that real estate is still a people business!

Courtesy, professionalism and good work habits are integral traits of a very good Realtor.

From virtual tours of your home from a buyer’s desk top or handheld device, we spare no expense to insure our listings are presented online in the best possible way. Along with our distinctive signage, social media, and blogging and on over 50 websites, your home is seen!

The pictures and other web based presentation tools are now truly the difference between a buyer seeing and potentially buying a home and a buyer simply deleting it from their search never to be considered again as a viable purchasing option.

We create a personal website for all of our listings so we can direct buyers to as much detail about our listings as possible.  When you go on to most real estate company’s websites to look at a particular home for sale, your home and every other agent’s home is shown as well. Who is competing with whom?

Buying a House London Ontario

There are always many homes for sale in London Ontario and making our listings stand out against our client’s competition is our most important role.

Market Based Pricing

When the initial list price for a property is too high for the current market, it guarantees that the property will be on the market for an extended period of time. A consequence of an extended time on the market is that potential buyers develop an unfavorable opinion of the home prior to even viewing it.

Rational or not, buyers often believe that there must be something wrong with a property if it has been listed on the market for a long period of time.

To avoid this, Envelope Real Estate Brokerage uses an exhaustive market based comparison approach to insure that your home is priced right from the start, allowing us to sell your property for the best possible price in the shortest time possible.

(Our research on your property, neighbourhood sales, and market data takes on average 3 hours which we invest before we even meet!)

At least, check us out, there’s more

How Buyers Find A House For Sale in London Ontario

HOW DO HOMES IN LONDON ONTARIO SELL?

How do London Ontario Houses sell?

How do homes sell?  It is the skill of creating sale-ability of a home.  Here are some statistics of how homes sell:

1%       of houses are sold from Open Houses.  This is only applicable if a thorough mailing to prospective buyers and proper advertising has been done.  Otherwise very few serious buyers go to Open Houses.

4%       of houses are sold through advertising in the newspaper or other real estate publications

6%       of homes are found by the buyer himself or the seller finding the buyer himself, A for Sale by Owner (FSBO)   in most of these cases, one party or the other hires a sales representative to handle the paperwork.

89%     of homes are sold through the Multiple Listing Service (MLS)  when listed with a real estate company – providing a reasonable price is offered.  Yet, some homes listed for sale do not sell or take quite a while to sell!.  This is where  knowledge and expertise is required to get a home sold for the highest price and quickly.

getting a better price for your house

89%     of homes that are sold through the Multiple Listing Service are sold by sales representatives who market for buyers daily!  Remember, real estate sales representatives sell real estate!

How many sales representatives actively look for buyers daily?  I don’t have any statistics on this, but according to the National Association of Realtors, 7% of the sales representatives are doing 93% of the total real estate business nationwide!  As an example, if you had 100 homes for sale, 7 sales representatives would sell 93 homes and 93 sales representatives would divide the sale of only 7 homes among themselves.

In today’s real estate market, IT IS THE SALES REPRESENTATIVE THAT MAKES THE DIFFERENCE IN GETTING YOUR HOME SOLD!

The size of a real estate company or its name has very little to do with the sale of your home or any other property.  Yes, there are some companies, which sell hundreds of homes, but they also have hundreds of sales representatives.  The average of sold homes per sales representative is usually very low.

Discounting commissions or making deals with sales representatives that you, too, can sell   the house will not change the facts of how homes are really sold.  Something important to keep in mind:

If the only way the sales representative can get the listing is by discounting commission, you can be sure they will also discount the price of your home when negotiating an offer on your home!

It will only take that much longer for you to realize that you have to do something else in order to sell your home.

Price a House in London Ontario, High or Low?

More Money When You List Your House For Sale in London Ontario

When  a seller sits down to interview Realtors, it’s easy to get caught up in the excitement over choosing a sales price. More money means more financial opportunities for the homeowner. Perhaps it means the seller can afford to buy a more expensive home, help pay for their child’s  education or take that long overdue vacation. Unfortunately, some home sellers often choose the Realtor who suggests the highest list price, which is one of the worst mistakes a seller can make.

Interviewing a Realtor

Establishing Value

The truth is it doesn’t really matter how much money you think your home is worth. Nor does it matter what your Realtor thinks or ten other Realtors just like her. The person whose opinion matters is the buyer who makes an offer and their Realtor. Pricing homes is part art and part science. It involves comparing similar properties, making adjustments for the differences among them, tracking market movements and taking stock of present inventory, all in an attempt to come up with a range of value, an educated opinion.

This method is the same way an appraiser evaluates a home. And no two appraisals are ever exactly the same; however, they are generally close to each other. In other words, there is no hard and fast price tag to slap on your home. It’s only an educated guess and the market will dictate the price.

Is it Too Low?

Homes sell at a price a buyer is willing to pay and a seller is willing to accept. If a home is priced too low, priced under the competition, the seller should receive multiple offers to drive up the price to market value. So there is little danger in pricing a home too low. The danger lies in pricing it too high and selecting your Realtor solely on opinion of value.

How It Starts To Go Wrong :  

Here is a story of a seller who did not interview her Realtor. She plucked the first one off the Internet because, “She looked like such a nice person.” She priced her home at $419,000. This Realtor never heard the experienced Realtors chuckling or shaking their heads  at the price. After 90 days, the listing expired.

Continues To Go Wrong The next Realtor,  who was referred to her by a co-worker, ( again, no interview)  listed the home at $404,900. Months passed and eventually the price dropped to just under $390,000. Still no takers. A few tire kickers, but no serious buyers.

More Than a Year Later By the time the last Realtor was hired to list this home, the seller had grown weary and exhausted, exasperated and of course, discouraged.  It was now 12 months later. Together, the seller and her professional listing Realtor priced the home at $385,000. It immediately sold for no conditions. The sad part is the comparable sales in the neighborhood fully justified a price of $400,000, but the home had been on the market for too long at the wrong price, and now the market had softened.

Some Realtors Specialize in Expired Listings There are Realtors  whose basic real estate practice is comprised of finding expired listings and relisting them at market value. I know one  who sits in a small room with a phone, desk and chair, dialing number after number. Last year she sold more than 17 homes & has 3 active listings right now. She makes a pretty good living repackaging overpriced homes.

pricing a home to sell

Protect Yourself

The question is how much money have those expired listings cost the sellers? The financial loss often exceeds the extra mortgage payments paid and goes beyond the uncompensated hassle factor of trying to keep a home spotless during showings. It affects the value that a buyer ultimately chooses to pay because it’s not a fresh listing anymore. It’s now stale, dated, a market-worn home that was overpriced for too long.

If you or anyone else you know who may be selling a home, don’t let it happen to you.

Work with a professional Realtor and ask these questions before you hire anyone!

Some London Ontario Home Sellers Hurt Themselves

Why do some London Ontario home sellers hurt themselves and most times are not aware they do?

I was discussing this with a client of mine the other day as we had put in an offer on a house in London that had been on the market for about 51 days (the average is 27) and why the seller was being difficult?  Even his Realtor felt our offer was really good and was becoming exasperated with his client.

It reminded me of a guest blog a few years back and here it is:

Via Mike Carlier ABR CRS GRI (MarketLink Realty):

When sellers sign a listing agreement, they indebt the listing broker  to the fiduciary duties that they deserve from us.  Often, sellers do things that help the eventual buyer gain an advantage in the sales process.  Sometimes, sellers are their own worst enemies.

 I’m thinking about asking sellers to sign a statement acknowledging that they understand that certain acts or omissions by them will decrease the final price they receive and increase the time it will take to get there.  Here’s my first draft of possible acknowledgments:

 

•1.       I understand that my asking price will define the expectations and limit the number of buyers who see my home.  An unreasonably high asking price will create unreasonable expectations from buyers.

 

•2.       I understand that there is a finite number of buyers who may want to see my home.  Every appointment request that I refuse will significantly limit my chance of receiving an offer, and increase the amount of time needed to sell my home.

 

•3.       Every day my home is on the market is a day closer to a price reduction and/or failure to sell.  In the near term, housing data indicates that my home has a higher market value today than it will at any time during the duration of the listing agreement.  It is in my best interest to sell quickly, even if I don’t absolutely have to move soon.

 

•4.     Buyers typically tour between four and forty homes.  My home needs to be in first place to get them to make an offer.  If its price, condition, and presentation are not number one, I will not get an offer.

Close doesn’t count.

By the way, finally the seller listened to his experienced Realtor and accepted our offer.

Making It Easy For Buyers to See Your London Ontario Home For Sale

When putting your house or condo in London and area up for sale, have you thought about how and when buyers will see your home?

Making it easy for buyer to see your London Ontario home for sale

If possible, schedule showings in the same way that is used by a majority of the homes in your area.  This may be by special appointment or by a lockbox system.   Remember that this will be the buyer’s first contact with your home, and it should set a positive tone.

Make the buyer and agent feel welcome.  Be as flexible on timing as possible.  The buyer may be viewing many homes over a large area.  (The average buyer sees 4-9 homes before making a decision)

Being flexible is very important and while inconvenient or disruptive at times, when a buyer is willing to spend hundreds of thousands of dollars for your home, be flexible.

If you wanted to buy a car on a Thursday afternoon but one of the dealerships is closed, would you go someplace else? Or, you are in London with your family for the weekend only and some homes you would like to see you cannot because the home seller is too busy or tired? ( True story, a $550,000 house and the seller was too busy & did not have the time to keep the house tidy!) By the way, that house did sell eventually, 1 month later for $529,900!

I can recall instances in which the seller came to the door in a hostile way and demanded to know why we were 5 minutes late. Last weekend my clients and I got to a house that we had made an appointment to see (11:30 AM to 12) and we got there at 11:55 AM and the man in the house ranted and raved that we were disrupting his day and yadda,yadda yadda! We left, never even left the hallway and by the way, in this very vibrant housing market, the house has been on the market 51 days! Hmmmmm! I wonder why?

Many people have a strong reluctance to intrude or bother other people.  Remember that the decision to buy a home can be emotional & stressful, you most likely feel the same way when you are selling your home.

Have you ever tried to make your way through a corn maze out in the country? If you don’t know the layout, it’s probably going to take you a long time to find your way through.

You’ll hit a lot of dead ends, go around in circles a few times, and maybe even become frustrated before you finally find your way out.

The same can be said about selling a home in London Ontario.

Real estate transactions are not something you do every day, so you’re not as familiar with their “layout”. As a result, the process of preparing your home for sale, getting it listed, dealing with viewings and buyers, and negotiating offers can potentially be very stressful… so stressful, in fact, you might be discouraged from making a move!

That’s why finding someone who knows the London Ontario real estate market is so important. He or she knows the maze and can guide you through it.

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Price a London Ontario House High, Accept Less

Price a London Ontario House High , Accept  Less?

I here this all the time from home sellers: “Lets List it High Because Someone Will Offer Less”

searching for a house London Ontario

That thinking may have worked years ago but in today’s real estate environment, home buyers have a tremendous amount of information by just a few clicks of the mouse, today’s buyers know prices and if you list a house or condo for sale in London Ontario too high, it could really cost you!

I Want to List it High Because I Know Someone Will Offer Less

When a home seller interviews a Realtor, it’s easy  to get caught up in the excitement of choosing a sales price. If a seller can get more money for the home, it means more financial opportunities for them. Unfortunately, uninformed sellers often choose the Realtor who tells them they will list it at the highest list price or worse, the lowest commission. This is, by far, the worst mistakes a home seller can make.

Establishing Value:

The reality is that it doesn’t matter how much money a home seller thinks their home is worth. The only person whose opinion really matters is the buyer who is going to make an offer, and of course, the appraiser. Pricing a house is part science and part art. It involves comparing similar houses in similar neighbourhoods of London, making the necessary adjustments for the differences between them, charting market movements and measuring the amount of housing inventory, all of this in an attempt to help determine a range of value.  This is the same method appraisers use to evaluates a house. No two appraisals are exactly the same; they are however, generally close to one another. There is no hard and fast way to just stick a price on a home in London Ontario and area.

Is the Price Too Low?

Houses sell at a price a buyer is willing to pay and a seller is willing to take. If a house is priced too low the seller should expect to receive multiple offers and drive up the price up to the market value.  There is not much danger in pricing a home under its actual value and your competition. The danger is in pricing a house or a condo too high and having the home sit on the market for weeks, even months.

How It Starts To Go Wrong

The home seller did not interview more than one Realtor. They may have picked the first Realtor off the Internet because they have a very low commission fee, or was recommended by a friend or a co-worker  The first Realtor priced their house at $395,000. After 90 days of sitting on the market, the listing expired.

It Continues To Go Wrong
The next Realtor they hire goes and lists the house for $375,000. A few week pass and eventually  the price drops to to $365,000 and still no offers. A few people looked at the house, but no serious buyers came forward.

The Home Owner is Now Tired & Exhausted

The home seller and Realtor  then price the home at $337,000 and sold very quickly.  The sad part is that the comparable sales in the neighborhood fully justified a price of $355,000, but the home had been on the market for too long at the wrong price, and now the market had slowed.

Protect Yourself

The question is how much money does an expired listing cost the homeowner? The financial losses often exceeds the extra mortgage payments paid and goes beyond the cost or the hassle factor of trying to keep a home spotless during the listing period. It affects the value that a buyer ultimately chooses to pay because it is no longer a “fresh” listing.  It’s now stale, dated, a home that was overpriced for too long.

Don’t let it happen to you. Don’t be that seller of an expired listing.   Be sure to hire a professional Realtor to price your home correctly from the beginning.

Even with the London Ontario real estate market booming at the present time, the above still happens! Most houses and condos in London are selling for close to full price or more and within 2-3 weeks and yet, there are hundreds of properties that have been on the market for over 76 days!

 

 

Listing a London Ontario Home , What to do First?

The most important time when listing a London Ontario home is when it first goes up for sale on MLS.  Home buyers and their Realtor  are searching daily for certain neighbourhoods in London  for something new, when excitement is usually the highest!

If there are errors in the listing, poor pictures or a inadequate description of your home, it can hurt you.

Selling a London Ontario Home

In most cases, home sellers do not have any idea that this is occurring. They may not know that potential buyers and their Realtor have by passed the listing, disregarded it all together or  frustrated when they get to view your home, or, pleasantly surprised!

Below are some of the reasons your home may not be getting the exposure and action that you have anticipated.

  • The sign goes up, but the Listing Realtor has not turned the listing in to the office yet, so the office not only has no record of the listing, it does not know who the listing Realtor is. Buyers drive by, they call the office and get nowhere.
  • The Realtor has not loaded the listing to the Multiple Listing Service, (MLS) quickly. Again, the buyer does not see it for a day or two and their Realtor will not see it on their frequent search for new listings.
  • The listing appears on MLS, but when the buyer and Realtor get there, the lock box isn’t on yet, there are no keys cut etc. If you are not home, the buyers may reschedule to come out the second time if they have not bought any thing in the mean time.
  • Your house listing is not up yet on any other websites,  blogs or on any social media sites.  (Not important?) The latest data shows that buyers preview homes on the web 94% of the time BEFORE they actually go and look in person!
  • The MLS listing has mistakes. Room sizes are wrong. Poor pictures or not enough pictures. (Last week I showed good clients of mine a $639,000 house & they at first declined to see the  property because of the poor or inadequate pictures. Their interest did pique up after seeing the house but because of their first impressions, did not make an offer! They bought another home the next day, 3 hours after it was listed!)
  • Showing instructions indicate to “call agent for appointment” to arrange showings, but the Realtor does not return the call or if so, the next day. The buyer’s Realtor again calls to set up a time, leaves a message or a page, the window for showing comes and goes and the buyer cancels appointment to see the property. Believe it or not this can happen two or three tries before they can finally get in.
  • The buyer and their Realtor show up at your door and you did not know they were coming. Or, they show up at your door when you explicitly told the listing Realtor you did not want any showings. The buyer and Realtor leave or are uncomfortable if they do go through your house. All because some one did not notify you.
  • You do not get any feedback about the showings that have taken place. You do not know why you have not received an offer yet, or, is there any thing you can do or change to help sell your home? . The listing Realtor does not know either, because, they did not ask the showing Realtor for any feedback, and or, have not kept a record of who looked at your house.

Frustrated Home buyers

You may think that the above is rare, but, It is not ! Frustration mounts for buyers and their realtor thinks:

 “Am I going to get in”? “Is the home seller really serious about selling?”

If you were buying a car and the sales person said he/she was going to get the keys so you could take a test drive, but never came back with those keys, you would finally move on to another dealership, wouldn’t you?

Your listing Realtor’s credibility transfers to you and your property. If the lack of credibility starts with showing the property, the buyer and their Realtor wonder what else is wrong or what other problems are they going to encounter.

Again,did you know that 94% of homes sold have been previewed on the Internet?

Listing with an Realtor who has a reputation for being thorough will never do you any harm. Who uses the web properly, has a follow up system and the finances to see your property through to the final stages.

Ensure that before the sign goes up and the listing gets to the MLS, everything from the lock box, listing brochures and presentations are in place and ready to go. Ensure your Realtor has a system to let you view the comments and feedback about your house on a special listing website . Do they have a check list (I have 133 items on mine) that they share with you before it even gets on MLS?

Check list when selling a London Ontario Home

 

Do not let others get in the way of selling your home. Why not make it easy and comfortable for buyers and their Realtor to see your home,  make an offer and you are always in the loop, being informed and willing and able to sell your home.

In summary, the most important time for a new listing is BEFORE it goes on MLS.