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Inside Scoop Home Seller London Ontario

Inside Scoop Home Seller

The Inside Scoop On Selling Your Home in London Ontario and The Area From Realtors Who Have Sold Thousands

When considering selling your home in London, Ontario, or the area, be it a house, condo apartment, townhouse or townhome, where do you start? After helping hundreds of homeowners in London, Ontario, Sutton Group Preferred Realty Inc. Brokerage and The Envelope Real Estate Group understand the fear of the unknown, the anxieties, and the “what-ifs”! In a nutshell, the most asked question is:

How Do I Sell My London Ontario Home For The Price I Want?

You have heard about preparation, planning & execution. 37% of home sellers surveyed by the National Association of Realtors (NAR) believed they did not plan or prepare because they did not know what to expect!

checklist when buying or selling a home in London Ontario

My experience tells me that 37% is low, more like 63%! Over the years, we have designed checklists, pricing strategies, processes, and what to expect, from start to finish, the good and the bad. Our clients love it!

There are subtle things that start to add up and, if not checked in time, can mean the difference between your asking price & actual sale price and how much longer it will take your home to sell, not sell or unnecessary problems!

 

Where Do Buyers Look When Thinking About Buying a House or a Condo in London Ontario & Area?

96.7% of homes sold have been previewed by buyers on websites, either through Realtor’s sites, MLS  or social media! That is a vast number and why it is incredibly imperative when listing your home for sale in London Ontario & the area to have a significant web presence or three!

search London Ontario MLS
It is easier and easier every year to search for homes for sale from any device and anywhere!

 Below is How  Home Buyers First See a Home

  • 59%  Salesperson contact
  • 27% For Sale Sign
  • 8%  Referred by a relocation service
  • 3% Through family or a neighbour
  • 1% An advertised property in a magazine or print ad
  • 1% Through an open house, they saw
  • 1% For Sale by Owner

Knowing the above numbers and how buyers find your home among all the other houses on the market competing with yours will enable you to make wise decisions when it comes time to put your home on the market. Making your home stand out & get noticed is very, very important.

Virtual tours of your home should be compatible with desktops, tablets or handheld devices; floor plans & 3-D are exceptional; a Realtor should spare no expense to ensure your home is presented online in the best possible way. Social media, blogs, your home on multiple websites, and a recognized National Brand (Sutton) For Sale sign will expose your home to all buyers.

The pictures and other web-based presentation tools are the difference between a buyer seeing and potentially buying a home and a buyer merely deleting it from their search, never considered a viable purchasing option.

searching for homes for sale in London Ontario
Buyers Have Options, Choices and Opinions.

Buyers Always Determine Value!

The value of your property is determined by what a BUYER is willing to pay in today’s market based on comparing your property to others SOLD in your area.

COMMON PRICING ERRORS

Timing is critical in the real estate market.  The above graph illustrates the importance of placing your property on the market at a realistic price and terms from the very beginning.  When first listed, a property attracts the most excitement and interest from the real estate community and potential buyers; therefore, it has the highest chance of sale when it is new on the market.

asking price compared to Market Value percentages

As the triangle graph illustrates, more buyers purchase their properties at market value than above market value, and the percentage increases even further when the price drops below market value.  Therefore, if you price your property at market value, you are exposing it to a much more significant percentage of prospective buyers, increasing your chances for a sale.

Which Improvements Add Value To Your Home?


The maximum time between remodelling and resale should be five years or less; otherwise, the “value-added” figures will be much less.

  PROJECT  COSTVALUE-ADDED  COMMENTS
KitchenLow: High:$35,000 $80,000-up80 to 110%Cost includes new cabinets and countertops and re-wiring, structural changes, relocating the plumbing, custom cabinetry, and top-of-the-line appliances.
BathroomLow: High:$10,500 $25,00080 to 115%Cost includes new fixtures and fittings, tile floors and walls, structural changes, and relocated plumbing.  High-end materials and fixtures raise the cost.  Note:  adding a second bath can yield more than 100% resale value.
Room AdditionLow: High:$30,000 $40,00050 to 110%It depends on room type; a family room or new primary suite (don’t forget to include the ensuite cost) will add much more value to a home than a private office or fourth bedroom.
Converting an attic, basement or garage into a living spaceLow: High:$20,000 $45,000-up25 to 40%Cost assumes no structural changes and no new plumbing; value-added depends on the size (smaller house, more value) and type of space created (family room or bedroom, more value than a game room or exercise area).
Adding a deckLow: High:$10,000 $30,000-up40 to 60%The size of the deck, complexity of design, and added amenities (spa, trelliswork) influence cost.
Return on investment numbers if doing major renos

These 50 inexpensive tips for selling your home in London, Ontario, will get you top dollar when you sell. Time and time again, when I show homes for sale, some or all of these tips would have dramatically sped up the sale, or the seller could have received more money. Over the years, I have found that the little things a buyer sees may be the stumbling block in making an offer on your home. You have one chance of making the first impression when a buyer walks into your house; try one or ten of these; you will sell quicker and, in most cases, receive more money!

A Few Tips For Selling Your Home In London Ontario!

Here are a few tips on how to impress buyers and make them want to buy your home.  Remember that you’ll never get another chance to make a first impression.  And first impressions are what counts!  Follow these simple tips and create the edge to sell your home more quickly.

Drive-up Appeal

  • Trim trees and shrubs, clean out flower beds, invest in a few flats of seasonal flowers, paint the front door, make sure the doorbell works properly, wash the mailbox, keep the porch swept, and get an attractive mat for people to wipe their feet. Wintertime? Guess how they feel when a buyer slips on ice or has to sidestep snowbanks, guess how they feel? Or stepping in puddles of water when they take their boots or shoes off?

Absolutes

  • Start by airing out the home.  Even the slightest odour turns most people off.  Eliminate all odours, especially those caused by dogs and cats, soiled diapers and cigarettes.
  • Wash all the windows in the home, inside and out.
  • If it has been over a year since the carpets were cleaned, now is the time to clean them.  Bare floors should also be waxed or polished.
  • Put bright light bulbs in every socket made for a bulb—buyers like bright & cheery.
  • Clean out closets, cabinets and drawers.  Closets should look like they have enough room to hold additional items.  Get everything off the floor, and don’t have the shelves piled to the ceiling.
  • Make sure rooms are not overcrowded with furniture.  Select pieces that look best and store the rest.
  • Keep the kitchen sparkling clean.  Make sure all appliances are clean at all times.  Straighten cupboards that appear cluttered and keep floors gleaming.
  • Bathtubs, showers, and sinks should be freshly caulked.  The grout should be clean and in good condition.  There should be no leaks in the faucet or traps. The toilet seats are down!

A few more suggestions

  • If you have limited counter space in the kitchen, keep unnecessary items put away.
  • Keep children’s toys out of the front yard, sidewalks and front porch.
  • Clean the ashes out of the fireplace. If it is a gas fireplace, clean the glass.
  • Be sure all lights are on in crawl spaces, basements, furnace rooms, etc., etc. etc.
  • If you have a pool, it needs to be sparkling and free of leaves; in the winter, a solid pool cover is impressive.

For those willing to go the extra mile

  • You can do some things that will add flair to your home.  If your house is the least bit dated, changing out the wallpaper in the entry, kitchen or bathrooms and replacing outdated light fixtures adds desirability.
  • See our 50 inexpensive tips to enhance your home’s value.
  • Fresh paint on the interior and exterior where needed.
  • New appliances in the kitchen can be an exciting feature that can make the difference in a buyer choosing your home over another.

Showing your home

  • When you leave the house in the morning or during the day, leave it as if you know it will be shown.
  • Keep good scents in the house, such as potpourri or simmering pots or candles.
  • Make sure all the lights are on, and window treatments are open.
  • Turn off the television.
  • Keep pets out of the way – preferably out of the house.  Many people are uncomfortable around some animals and may even be allergic to them.
  • Leave your premises.  Take a short break while your home is being shown.  Buyers are intimidated when sellers are present and hurry through the house.  Let the buyer be at ease, and let the associates do their job.

How Much Is My Home Worth in London Ontario?

how much is my home worth in London Ontario? Get the right value now

We’ve all seen the boring, plain, everyday marketing that offers free valuations without seeing your home! Or “Free Home Valuation Reports” cards in our mailboxes or the dreaded cold call “I have a buyer interested in buying your home.” A Comparative Market Analysis is a report supposed to provide an anticipated sales price or price range for the subject property.

Really?

How can anyone value your home accurately without physically seeing your home and doing the two to three hours of research necessary? Have you ever bought anything “at ” ballpark price’? or “general price range?” “The market price?” After advising & guiding hundreds of sellers to sell their homes over the years, every house or condo sold was a price we agreed on. Semantics aside, you deserve a price that many willing, qualified buyers will pay.

Getting a property valuation in London Ontario takes more than 5 to 10 minutes, our property valuations are 2-3 hours.

A comparative market analysis (CMA) is a process Realtors use to determine the market value by comparing it to similar properties that have recently been sold and those currently listed for sale. A CMA is a crucial tool for listing Realtors as they determine the price at which a seller will list their house or condo for sale, and it’s also a tool for buyers agents advising their clients to make competitive offers. Conducting accurate, consistent CMAs isn’t easy. Most Realtors are not taught this skill in their pre-license real estate classes, so many enter the business without this vital skill or lack the patience to dedicate the time to learn how to price a home correctly.

Why Our Exclusive London Ontario Home Value Analysis Is Effective

It’s a complete top-to-bottom room-by-room analysis not just of the value but every aspect of your home to identify items that may affect your sales price. Our analysis enables us to identify the selling features or what you can do to help sell quicker or receive a higher price.

       A Proven Process For Selling Your Home In London Ontario

when you think of selling, what keeps you awake at night?

Results That Will Move You!

  • You let us know you would like your condo’s no-obligation, no-cost valuation.
  • Arrange a mutual time to meet.
  • We will prepare for our meeting by researching prices, demographics and market conditions.
  • You will not have to sign anything or listen to blah blah blah stuff, malarky, posturing, showcasing or bs.
  • When we get to your unit, a quick introduction and a tour of your home, where we will perform a room-by-room review.
  • When completed, sit down with you and address your concerns, fears or anxiety about moving.
  • If necessary, review a few minor things you can do at a minimal expense to show your condo in the best light.
  • Why pricing your unit correctly the first time will give you a better return 9 out of 10 times.
  • Why, when and where to market your condo assertively to attract qualified, excited buyers!
  • Understanding that there are four types of buyers in this market and why you want to avoid three of them!
  • Understand the difference between Market Value, Perceived Value, and appraised Value and what effects those three will have on your asking price.
  • What are your legal obligations? To your lender? To the buyer?
  • How does being in a Sellers or Buyers Market in London affect your asking price & do negotiating skills matter?
  • How to handle showings & offers to yield the best results.
  • Leave with you our research, market reports, and best-selling practices.
  • Within 24 hours, I will reply with “The Price.” And why!
  • You then choose whether to market your condo on MLS or not with us or someone else.

P.S.

We find that listing a house or a condo for sale, the pictures, the documents, coordinating showings, and negotiating offers are the easiest part of the selling process! It is after all of that that patience, experience and the strength and posture of us and our clients of keeping the transaction together.

  • Ensuring the lawyers on both sides of the transaction are informed and followed up with during the process.
  • Cooperating with appraisers, inspections, and mortgage lenders
  • In some cases, keeping the transaction on pace and solving challenges.
  • Ensuring our 81-point checklist for closing a sale is completed sequentially.
In real estate transactions, there is no such thing as a paperless trail.
In real estate transactions, there is no such thing as a paperless trail.

If you decide to utilize our research and apply our marketing tips, you’ll know how to price and sell your home for the fastest, most profitable sale. Also, with this information, you’ll never pay too much for any home you ever buy for the rest of your life.

Ty Lacroix Broker
Ty Lacroix Broker Sutton Group Preferred Realty Inc. Brokerage
The Envelope Real Estate Group
The Envelope Real Estate Group