I recently took up swimming as training for Triathlons. I was always a "nervous" individual in the water. The fear of sinking is always top of mind. I think this is because I know the difference between sinking and swimming having choked on my share of water. A baby thrown in the water knows no difference. There is no fear there, as is evident in the face on the ground breaking, grunge plunge album "Nevermind".
Selling a home is a leap in the lake we don't often take. A first time home seller is a babe in the water unaware of the ominous financial dangers waiting after plunging into the deep blue unknown. After splashing around and taking in a lung full commissions we become painfully aware of the dangers of sink versus swim in the housing market.
Today people are deciding to take a swimming lesson from a Private Sale Professional. They have swallowed some commission and are now doing lengths in the pool with the aid of swimming knowledge and a trusty instructor to assist them should their nerves get the best of them.
Are you going to jump in the lake and keep thrashing around hoping to swim, or are you looking to get some lessons?
It's hard to beat the system When we're standing at a distance So we keep waiting Waiting on the world to change @johncmayer
Many people put there house up for sale and wait. Waiting is a mistake. Buyers don't wait so why would you?
How do people wait? What are the mistakes they make?
1. Relying on classifieds. Put an ad on Kijiji and wait for a call. As a free classified site the local real estate agents seem to think it is a great way to put out their listings. Guess the MLS system isn't all they claim it to be. Problem for you, the private seller, is there are hundreds of them posting daily on sites like Kijiji and your ad gets relegated to the back pages quickly.
2. Sitting on their price. It is not about reducing the price every 3 days until you find a buyer. It is about making sure your price is right for the market. So many people sit on their price for months. If in the first 4 weeks you have not received any direct calls or emails to set up appointments your product/price ratio is out of alignment.
3. Waiting for the "interested couple" to call back. I hear this while talking to people regularly. Heck I am guilty of it myself. Fact is if they are interested they probably would have called already. If you are that sure they want it, call them. You did get their number, right?
4. Waiting on the fix. Similar to the price, as it relates to your product/price ratio, sitting and waiting on feed back to fix a deficiency is another mistake. If the house needs a new furnace or an electrical update, do it. That or get a quote(s) and reduce the price accordingly. People generally do not want to move in and do major work, unless your house is a fixer upper.
5. Waiting to step up the ads. People sometimes feel it is best to wade into the cold water of real estate marketing inch by inch. The first 4 weeks are the most critical in the sales process. Get it all ready and then do a cannonball into the deep end. Trust me your splash will get noticed long before the cries and whimpers of the waders!
If we are all waiting on the world to change won't it just stay the same.
"A Definition of Insanity: Doing the same thing the same way over and over expecting a different outcome"
Recently I read a blog post by Mark Evans (@markevans) talking about "digital" and "analog" business models. It peeked my interest being a franchisee of a dot com company.
There is no question that the internet has changed many business models. We often point to the travel industry as an example. People utilize the internet to book hotels, airfare, car rentals even entire vacation packages on one stop shopping websites like Expedia, Sell Of Vacations and even with airlines directly like Westjet.
In his blog Mark points to the growth of online movie rentals as an example. Movies have been around for over 100 years. The VCR has been in our homes since the 70's and the DVD player has made home entertainment a thing of normalcy since the mid 90's. The trip to the video store is one of familiarity to all, as are the wallet pangs of late returns.
With comfort and familiarity come evolution and efficiency.
The home selling process is not a weekly occurrence like Saturday night movies. It is transaction most are a stranger to, or at least not comfortable with. To jump on to a website and offer a home for sale is just one step of the process and people can feel overwhelmed after doing so. Some are studious in their research but others would be much happier to have someone hold their hand through the process. The thought of Private Sale being one of solitude and despair is one sold by the high priced world of traditional real estate. A quote from Steven Dubner'sFreakonomics Blog talks to this generality:
Controlling for differences in house and seller characteristics we find that listing on the MLS does not yield a price premium relative to listing on FSBOMadison.com. This is not to say that using a Realtor is not worth the commission. Realtors can save sellers time and generally help through a stressful and maybe difficult period.
Analog takes the pressures off the digital fears. Can you get this pressure release while still selling your home privately?
Online classified sites like Kijiji and Craig's List don't offer comfort. They are online classified, nothing more. FSBO services like By The Owner get a little closer but still miss the mark. What is needed is a Private Sale Professional in your corner all the way through the process, someone that has been in your home, sat at your kitchen table and knows your situation. A Professional that has the experience of guiding hundreds of people through the process and knows exactly what you are going through. This adds comfort to the process. This relationship with people is something we all crave. The internet is a great tool when used in conjunction with human interaction.
When embarking on the path to purchasing a home, there are many things to consider. Living in the 21st century, there is an importance being placed on green, sustainable methods of building, which promote better energy efficiency, cleaner air and stronger homes.
Many homes built prior to 1980 may still contain asbestos and other obsolete building materials. Having the assistance from a reliable Home Inspector can make the home buying process simple and stress free.
While many homeowners may think that building green can take a toll on the wallet, the benefits outweigh any initial monetary losses. Building or remodeling your homes with eco-friendly materials can lower utility and water bills, achieve federal tax credits, higher real estate value, purer air quality, reduced waste sent to landfills and conservation of natural resources.
Asbestos Tips
Asbestos is a fibrous mineral that was used in construction applications for the greater part of the 20th century. Often appearing as insulation, piping, roofing and flooring, homes and buildings could still contain asbestos materials if they were built prior to 1980.
If you locate any suspected asbestos in the home, most experts suggest leaving it un-disturbed until a home inspector can examine your property, take evaluations and determine the safest course of action. Sometimes the best action is no action at all. Disturbing asbestos in good condition may cause its fibers to be released into the air.
Long term exposure to damaged airborne asbestos fibers can lead to the development of a severe lung ailment known as malignant mesothelioma. Due to latency periods that can last 20 to 50 years, mesothelioma diagnosis is truly a difficult task for physicians.
The Health Canada Organization offers assistance and information in the prevention, disposal and removal of asbestos. They are federally responsible for helping citizens maintain and improve health at home and the work place. The inspection and removal of toxic substances must be performed by licensed abatement contractors who are trained in handling dangerous materials. They work under state and federal regulations to ensure no health concerns arise from improper removal.
GO GREEN
A catalyst for homes, industries, schools, universities and business, the incredible diversity of enterprises is driven by a common bound to move to a green lifestyle. Green alternatives to asbestos include the use of cotton fiber, lcynene foam and cellulose. Cotton fiber is quickly becoming a favorite for home builders and renovators.
Made from recycled batted material, it is also treated to be fireproof. Research has demonstrated that the use of eco-friendly insulation alternatives can reduce annual energy costs by 25 percent. Rather than expensive and mal-treated wood, interior walls can be made from steel and concrete, avoiding many of the problems associated with asbestos and other insulation methods.
Living in a world where environmental sustainability is a vital concern to the future of mankind, it is important to take note of the consequences of improper building materials and environmental degradation. As citizens of Earth, we are obligated to nurture and sustain this planet. Many locations throughout Canada are swiftly changing their construction practices to suit the environment and the health of human beings.
I recently read a tweet from @JulietJohnson about a blog post from a Realtor giving the 3 basic tips to get your house sold.
The tips are good and straight to the point. Given they are written by an agent they need a bit of an editorial comment.
Tip #1 - GET LOST
"The buyers want to make fun of your house. They want to look in your closets. They want to discuss the home's potential while they are there. This is not bad. It means he has an opinion, and might be trying to make a case for his offer".
How the heck are you going to do this if you are selling privately? Easy to do with a little coaching. First you only need one person there. Kids and spouse can go to the mall (I also like what the agent says about grandparents). You need to stay in the Kitchen or Den or out on the deck if the weather co-operates. Let them wander through with out hanging over their shoulder, you would want the same if you were looking through their house, right?
Tip #2 - You have too much stuff and half of it is crap
Tip #3 - If you are not getting offers and and there does not appear to be a good reason it is because you are in denial. THERE IS A GOOD REASON.
Nope, not the economy. We've always had an economy of some sort. There is only one reason that a reasonably well-marketed home does not sell. Note that I said "reasonably well-marketed". Your Realtor does not have to take out a prime-time television ad, a page in the NY Times, hire a celebrity spokesperson and drop leaflets from a crop duster. The Internet (Lots), some print, calling in market area, open houses, word-of-mouth and some mailings will do nicely if you are PRICED correctly.
Everything on that list is available with a Propertyguys.com listing. Everything except the price tag! Just make sure you price it correctly.
Here is some more advice you could use prior to a showing if you have a leaky faucet...
Con Artists come in all sorts of different packages.
A recent article in the Waterloo Region Record talked about a real estate scam on the internet. Without a doubt it is important to do some due diligence when making any purchases online. To just send money to a classified ad on a Kijiji or Craig's List seems a little preposterous.
Internet classifieds are no different than that of the traditional print media. People place ads with little or no scrutinizing. It is generally up to the people responding to the ad to verify the merit of the ad and the person placing it. With the advent of free online classifieds people are now able to place ads from anywhere in the world for free with no one policing them at the outset. Set up an email address, place an alluring ad from Nigeria, wait for your fish to swim into the net.
Given the value of the purchase, when you are shopping for a house it seems a little odd to do the entire transaction online without ever seeing the property or meeting the seller. House selling was not really intended to be done this way.
The internet is a powerful and essential tool. One thing it doesn't do is take away the human interaction needed in the real estate transaction. When you buy a car you want to take it for a test drive. When you buy a loaf of bread you squeeze it for freshness. When you buy a water melon you tap it for firmness. Why wouldn't you walk through a $250,000 house before sending money?
Remember that if you have limited information on the seller, like just an email address, it should send up a red flag. Name, address, phone number are essential (hard to buy a house without an address, right?). Visit the home, walk through it, talk to the neighbours. Of course it is always recommended to have things looked over by your lawyer and any money in the transaction should be handled in-trust through your lawyer to ensure you have some protection.
Don't be to sure about anything. It appears even MLS listings have fallen prey to this type of scam...
Hopefully you are reading this post before you send a $5,000 wire transfer to houseseller54@aol.com so you can have a chance to see their amazing house before they put it on the market for $80,000 more.
I don't care how hot it gets....NOT GOING TO HAPPEN!
Summer time memories are often intermingled with frolicking in the water on a hot day. Kids running through the sprinkler, playing in the pool, or baking at the beach are emblazoned thoughts in the psyche of many Canadians.
It seems that the pool as it sits is a choice for some. An investment in their property that allows them the daily trip to an oasis avoiding the traffic that sloths it's way to the cottage or the beach. It comes at a price. Consider a second mortgage or a line of credit because the pool of your dreams could cost you anywhere between $30,000 to $100,000 depending on how extravagant you want to go.
That investment in a property is not usually realized at time to sell. The backyard cottage will add value to a property but it also limits your pool of buyers. Many people looking for homes just are not interested in the pool owner's life. One of maintenance and upkeep. One caution and worry for a parent of young children. One of neighbourhood parties and summer kids hang outs.
They payoff really comes when you find that buyer. The one that always had a pool as a kid. One that couldn't afford the install or couldn't fit the dream into their postage stamp yard. The one shopping and their main requirement for the house is YOUR pool.
If you are like me, and not a pool guy, the other option is to head to a local municipal pool...
Posts
