Establish the asking price
How much? That's what everyone wants to know.
Welcome to
The place to learn all about buying or selling a property.
This unique, user-friendly website is specifically designed to answer
all your questions in an interactive way.
We’re here to answer any questions you may have about buying or selling a property.
How much? That's what everyone wants to know.
Your Proprio Direct broker has acces to advanced techniques for determining the fair market value of your property. In his personalized report he will suggest a price range in which your property should fall into so that it gets sold within a reasonable time frame.
To attract buyers’ attention and maximize your chances of selling, you must establish a fair price for your property. In such a competitive market, it’s the market’s law that prevails.
If you set the price too low, you might miss out on thousands of dollars that a buyer might be willing to pay you.
If you set the price too high, you may scare off potential buyers and risk having your home stuck on the market for too long. This could backfire if you later decide to reduce your price because potential buyers perceive this as an act of desperation and will try taking advantage of the situation by submitting low offers.
Through their Real Estate Board’s MLS® system, brokers can compare your home to a group of similar properties that have recently been sold in your area. There are obviously no two properties that are identical, so it’s your broker’s job to adjust calculations based on those differences.
A new listing on the market generates lots of interest and often has a greater level of activity than older ones. Realtors usually want to visit new listings as quickly as possible in order to propose them to their buyers. For this reason, it's important you make sure your asking price is properly set so that you can take full advantage of this first wave of enthusiasm.
Get your mop out along with some paintbrushes. It's time to give your property a little makeover. Here are some small things you can do to ensure productive visits.
Now is the time to address your property’s minor imperfections: the hole on your door’s screen, the chipped paint on the baseboards and the clutter in the basement. Print a copy of the "checklist" and thoroughly inspect your property.
Your property will look much bigger and more attractive if you organize your closets, remove any bulky furniture and rearrange rooms in a way to maximize their space as much as possible. Discard or sell any items that you have not used in over a year or just donate them to charity.
Cleaning is the most money savvy way to make your property more attractive to potential buyers. Clean absolutely everything: floors, windows, walls, doors and baseboards! Roll up your sleeves and polish the kitchen and bathroom. Once your house is squeaky clean make sure you keep it that way! You never know when the right buyer could show up.
Some repairs are essential, such as a leaky roof, a cracked foundation, and dangerous electrical issues. Don’t forget to tend to the little things as well, like leaky faucets, squeaky doors and cracks on the ceiling. Besides, it’s very likely that a prospective buyer will request a building inspection and any problem with the property will eventually be uncovered.
You want buyers to feel as if it’s their home, not yours! Remove family photos and your trophy collection, as well as any other things that may prevent buyers from feeling “at home”. Store away any personal items that could be distracting to buyers.
Walls painted in strong colors or with busy wall coverings can make it difficult for buyers to envision their belongings in your house. Consider repainting walls in neutral and bright colors that will enhance the size of the rooms and make them more attractive. After a thorough cleaning, paint is the second most economical way to beautify a home.
You can make a big difference without spending a fortune by simply replacing worn curtains with new ones or by hanging some mirrors to increase the size of the rooms. Additionnal appeal can be added with indoor plants. As for the outside, make sure to trim trees, weed flowerbeds and consider adding flowering plants for a prettier impression at first glance.
Don’t get too carried away with preparations that you lose sight of your goal of making money! Here are some things you need to ask yourself before undertaking any improvements:
Your real estate broker will gladly give you more tips on how to properly prepare your home.
By signing the brokerage contract, you’re officially giving your broker the green light to put your house up for sale. The brokerage contract grants your approval to your broker’s real estate agency to market and sell your property. The contract:
This describes the legal connection between you and the real estate agency and sets the period within which your real estate broker must sell your property.
Under an "exclusive contract" only the brokerage agency you are listed with can find a buyer for your property. Realtors typically recommend an MLS® listing which allows them to publish your property on the Real Estate Board’s MLS®/Centris network - the ultimate marketing tool that will help you find buyers.
Although you have the last word on that magic number, your real estate broker will provide you with valuable recommendations on a fair price for attracting buyers. Refer to Section A "Establish the asking price".
This may be a flat fee or a percentage of the final saling price. It's up to you and the real estate agency to agree on the commission.
Your real estate broker will set out your property’s characteristics: lot size, year and style of construction, number of rooms and their dimensions, as well as any other particular selling assets.
This is the lot number, the land survey and the zoning code.
Let buyers know about important financial data, such as tax accounts and municipal evaluation.
This gives buyers an idea of the time you need to move out once your home is sold. The typical period is 60-90 days, but having some flexibility could accelerate the sale of your property.
Your real estate broker will arrange visits by appointment as per your instructions.
Personal property consists of items that can be moved, like a washer, a dryer, a microwave oven and curtains. These items are not typically included in the asking price. However, sellers sometimes choose to include such items in order to set their listing apart from others so that it generates more interest.
On the other hand, fixtures are comprised of permanent additions or improvements to a property, such as central air conditioning, chandeliers and wall to wall carpeting. Unless otherwise specified by the seller, fixtures are automatically included in the asking price.
Because there’s a fine line between personal property and fixtures, you should go through all of your belongings with the help of your real estate broker.
At the signing of the brokerage contract, your broker will inform you about the FINTRAC reporting requirements. FINTRAC is the federal agency responsible for the administration of laws and regulations on money laundering and terrorist financing in Canada.
As required by federal law, your real estate broker must complete a Client Identification Form and request identification. For more information: http://www.fintrac-canafe.gc.ca/re-ed/real-fra.asp