At PropertyGuys.com, we know that selling your home is not something that should be taken lightly and just left to some online platform or website. Over the last 15 years we have worked with tens of thousands of home sellers. Experience like that has helped us figure a thing or two out. We know people want more than a website to sell their house, why else would they consider spending $20,000+ to sell a cookie cutter home?
Being locally owned and operated, having the business owner sitting at your kitchen table to walk you through the entire process is one of our market advantages. We also rely on industry professionals like local appraisers as well as lawyers to offer you what you need when you need it. In addition we have a call answer service that books appointments for you allowing you to never miss a buyer.
When it comes to marketing we look at traditional options like the local newspaper and Just Listed postcards mailed out in your neighbourhood as well as some non traditional marketing like sponsored Facebook posts targeting buyers in your wanted demographic. For those that want to reach the MLS audience we even have real estate brokers that will get you on Realtor.ca for some added exposure.
We are more than just PropertyGuys.com. We are more than a website. We are part of your community, living and working along with you, effecting our local economy by keeping your money in your pocket, where it belongs.
First let's be clear; the MLS, or Multiple Listing Service, is not open. It is wholly owned and operated by the Canadian Real Estate Association in Canada. The changes to allow Private Sellers "access" to MLS was not what most people think it was. Yes you can do what is called a "Mere Posting", but it needs to be done by a licensed Realtor, as they are the only ones who can post houses for sale on the MLS.
Where most people are confused is that it is not the MLS they are looking to have their house appear on, it is Realtor.ca, the public facing site where the Multiple Listing Service properties are showcased for you to search. Go ahead, go to your internet browser and go to MLS.ca and look what happens. There is no MLS.ca, it ports you over to Realtor.ca.
Each local board has their own listing service and they, inturn, upload those listings onto Realtor.ca. You will note that if you go onto any of the local Realtor association websites ( KW, Guelph, Cambridge) you can't just look at their listings. Any searches of listings they point you to Realtor.ca
If a realtor comes a knocking on your door, or calls you on the phone, to tell you you have to be on the local board, tell them to take a hike. I am sure they will say something like "If you are not on the local board then local agents won't find you." To which I would respond "Are you a local agent?"
I would say one of the more common statements we hear in regards to selling a home privately is "it is worth a try". Fortunately we have learned from a reputable source, as so handily laid out in the pie chart above, there is no try. When selling a home, privately or with a real estate agent, the word try should never enter your vocabulary.
When one decides to sell their home there are key areas that need to be addressed in order to "do". If these things are not addressed you can not blame "try" you can only blame "do not".
What are the key areas? Great question! We know that the sale of a home is dependent on product, price and exposure, or the Home Selling Trifecta. Let's quickly look at each of these items as they relate to your home and then with each other.
Product - This is the home it's self and all aspects of it's physical space including location, style, decorating, layout, quality, condition and over all cleanliness. The things you can't change or alter easily or at all you just have to deal with. Are you located in a busy neighbourhood? Does the flight path of the airport keep you awake? Are you in the neighbourhood that EVERYONE wants to be in? Do you have a 2 story or a bungalow?Areas where you do have control are areas that will impact the emotional buyer like staging the home for sale, having it "white glove clean", free of all defects inside and out (walls, roof, foundation) and ensuring all mechanical items are in good working order.
Price - This is arguably the most important aspect. This is what will take an internet stalker and turn them into a motivated buyer. People are always lurking on real estate websites looking at this home and that home. Your goal is not to have a million views of your online listing but to have one person motivated to purchase it. Do your homework, find out what homes have sold for in your area. Look and see what your competition will be at the price you are thinking. How does your's stack up? Even if you miss the first 4 week window when properties are getting their first once over by the lurkers, you are still in the game if you are adjusting your price to where the market is moving. What doesn't work? Change your method of marketing and increase your price. If the widget you are selling for $5 isn't selling at Home Depot moving it over to Wal-Mart and charging $7 isn't going to help.
Exposure - Get your home in front of buyers! Assuming you have priced your product correctly for the market this is the easy part. In today's market, as a private seller, you have more exposure potential than ever. There are plenty of questions someone considering selling their home should be asking. Do you need to be on the MLS? Will placing an ad in the paper help find home buyers? How do we advertise an Open House? Can I advertise my home on Google and Facebook or other social media platforms? What kind of advertising does an agent do for 5%?
The Trifecta works only when all three are working harmoniously together. If one side of the triangle is missing or being neglected you will not fall into "do" category.
Using services like PropertyGuys.com not only presents your home in professional way online but we also ensure you evaluate all areas of finding buyers for your home. We focus our efforts on ensuring all aspects of the home selling trifecta are met. If there is an area that is being neglected it will show up in your numbers. We will work with you throughout the home selling process to determin which part of the trifecta is being neglected so you can "do", because no one likes a "do noter"!
Just like a home, an antique is only worth what a buyer will pay for it. In my travels I have heard the "oh that's an antique" as I looked at what I thought to be a junky old piece of furniture. The question I have is why are you keeping it? Most times it is a family heirloom of some sort and the guilt of parting with it might just out way the pittance.
Fact is when you are looking at selling your home it pays to ensure your house "matches". If you have an antique mahogany side table, an art deco dresser, an Ikea bed and a chandelier for a light the flow in your room may not work. Buyers will be too distraught over the jumble of styles they won't be able to picture their room. That will cost you money in the end! Don't be afraid to ask for help. A professional stager can effectively allow you to mesh your styles and better your flow, most times using what you already have in the house.
The other issue is just having too much stuff. Often times we take pieces of furniture that were our parents' or grandparents' because we need to hold on to something to remember them. Here is an idea. Make a scrapbook including pictures of the items (both now and from the past in their original settings) to remember them by. This allows us to hold on to the memories but not the items which are just cluttering our already cluttered lives!
Now what to do with the item(s)? I would suggest contacting a local antiques dealer and have them give you an idea of value. At that point they may decide to purchase at a fair price or even allow you to put it up for sale on consignment in their store. Renting a truck and borrowing a friend to lug everything down to the store/market may end up as a huge disappointment as most people don't get the "Antiques Roadshow Surprise" they are hoping for. A couple of ideas. If you have a fairly big "collection" of items most dealers will do a site visit to asses what you have. The other option is using the power of the internet. Green Spot Antiques in Cambridge ON has taken the old world to the 21st century. To quote Vince the owner "like having your own antiques pro at home". You can connect with Vince via Twitter, Facebook and even talk via phone or video with him on skype.
There are many theories as to why the dinosaurs disappeared. Many creatures have gone the way of the Dodo Bird and more often than not it was because of their inability to react and adapt to changes in their environment.
When the travel industry was faced with the internet changing their business many were doomed for the tar pits. The ones that remained did so either through specialization or over the top customer service. The everyday ordinary transaction has gone online. The majority of people are now booking basic travel needs either direct with airlines like WestJet or using services like Hot Wire and Expedia.
Why has the real estate world taken longer to adapt than the travel industry? In travel it was a company dealing with a consumer. One large company can make decisions quickly and change an industry. In real estate it is a consumer to consumer transaction. Instead of one or two CEO's changing the course of an industry it is millions and millions of home owners each making the decision one at a time, as the situation arises. This no doubt has lead to the extended yet agonizing march into the pit for those not ready to adapt to a changing market place. As is with any tipping point, the closer you get to it the quicker it picks up speed. Have you noticed a change happening? Has it been picking up speed?
One can only hope that if extinction is in their future they won't feel the pain...
There seems to be some misinformation in the FSBO world. If people are having problems selling their home privately it would seem they blame it on lack of Open House signs. I come to this conclusion because when people have been on the market for 6-8 weeks they seem to add more signs.
On a positive note they are trying to increase a third of the HOME SELLING TRIFECTA. Problem is they are not hitting the right one.
Do you know how many eyeballs are seeing your home? This information is imperative to selling. You see if you are judging your sale proceedings simply on the traffic in your door you are making an oversight that could cost you precious time and money.
If you have had no phone calls and no showings in the first 4 weeks of marketing your home you need to make a decision. You need to change something in your HOME SELLING TRIFECTA. But what? It would seem people automatically place blame on Exposure. If people are seeing your listing online and choosing not to call you, Exposure is not your problem? Let me give you a scenario that may show why other areas need to be considered.
You are the PROUD owner of a 1992 Chevrolet Corsica. A fine piece of North American engineering. Since you bought it off the showroom floor you have babied it. Oil changes every 5,000km, brakes at the slightest hint of a pedal pulsation, new spark plugs each and every spring, fuel injector cleaner in every 4th tank of premium fuel. Nothing is too good for your baby. This time of year most people are leaning towards snow tires for their car, you wouldn't think of it because your sweet ride hibernates through the winter. Alas it is time to move on. A new minivan is calling. The twins changed everything. The scoundrel at the dealership told you your baby is worth $500 for trade, you almost puked. The Voltage Blue Metallic Clearcoat still glistens in the heat of a midday sun and highlights the FOR SALE sign posted in the window. To make it easy for people you even put the price right there on the sign. After weeks no one has called. You place signs at every corner within a 2km drive of your house announcing the availability of this classic road machine, nothing. Time to up the ante and place an ad in the paper.
1992 Chevy Corsica Like new, under 100,000km of summer driving. Call Today to get this car $22,500
I am sure you could always look at washing away your blues with some lemonade...
I love looking through the paper to see the different ads and ideas people have when placing a classified ad for their house. I came across one this week that included the street name and the phone number but not the house number. As I drive to the area I find the deep caverns of water main repair. Dare I cross? I am glad to report I survived the treacherous trip across the chasm.
When I talked to the gentleman at the property I suggested he may want to ad the house number to his ad. His response surprised me a bit. "That was done with purpose. If people are interested they are forced to either call us or drive by if they so choose."
In today's world of information overload people not only want, but expect information at their fingertips on their schedule, not yours. As a buyer I would not want to jump through hoops when I have plenty of options available to me. I can search through hundreds of homes on the internet, including photos and virtual tours. Why am I going to play your game to call you to get your address? NEXT!
In this instance it seems very much a control issue. The home seller wants to control each and every buyer and when and what information they get. A strategy that could work but is very labour intensive. This takes away a key benefit of selling privately. The ability to talk to qualified buyers and work within your schedule. You actually spend your time qualifying them instead of letting them qualify themselves!
Qualified buyers are something real estate agents claim as their own. They proclaim to spend hours with all the perspective buyers getting to know their wants, likes, desires. Maybe so, but it is on your time schedule. In speaking to many people frustrated with the traditional system one complaint often heard is that agents will bring just about anybody through a home. They use the homes as part of the process of narrowing down what a client might like, meanwhile forcing you to leave while they show an uninterested, unqualified, tire kicker through your home.
Having the control of the sale by selling privately allows this to stop. You show the home when it is convenient for you. When they have made the decision to pick up the phone and book an appointment, they have already looked online and ogled your photos. They know that your basement is not finished. They know that you have a large backyard and a new deck. It's what they are looking for, they have self qualified.
Your duty as the home seller is to verify two things on initial phone calls. Have they viewed your property on PropertyGuys.com and are they pre-qualified for a mortgage in the amount of your home. When they pass this test they are invited across the bridge.
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.
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.
When I saw this video on Youtube I could not help but be reminded.
It got me thinking. Today is yesterday's future. What shaped our today?
Where as once we relied on newspapers, letter writing, radio and television for our link to the world. Today our views come from Google, email, Twitter, Facebook and Youtube.
What will Real Estate look like 10 years down the road? Do you think anyone saw this coming in 1995?
A key point of an internet listing is to show your home at it's best all the time. Knowing that you may not keep it pristine 24/7 you can still have it shown 100% of the time in the best shape. Before you plan to have your photos taken make sure that your house is ready. Here are a few hints you will want to ensure you pay attention to for your photos:
Demagnetize - Although the kids art work is dear to you a buyer wants to see the fridge! Take all magnets and associated artwork, pizza coupons, to-do lists, and extended family photos off the fridge and into a drawer.
Zamboni the Counters - You are selling space, especially in the kitchen. Feel free to leave one, maybe two small appliances if you have more than three counter spaces (U shaped kitchen or L shaped with an island). Photos have a tendancy to make things look restricted. Clearing off the counter tops will assist in opening up the kitchen and giving the perception of having a larger kitchen. This goes for bathrooms as well.
Reflect When Selling - As in the photo above you need to be very cautious of where mirrors are in relation to the camera. Sometimes it is darn near impossible to avoid having the camera in the shot, but that's why they have tripods and self timers on cameras. Don't get caught in the mirror!
Tall and Skinny - No not a Starbucks order. Landscape (wide) versus portrait (tall) should be the standard shot. The only exceptions that I would use would be in a small powder room or the front shot of a townhouse where you pick up 3 units when trying it landscape.
Sleeping In - Make sure you have made the bed! Don't laugh I've seen it more than you would think. The bedroom is a personal space but not so much when you are loading it onto the internet. Underwear, bras and "personal items" should be taken into consideration before the thought of a camera as well.
Pee Wee's Playhouse - Toys everywhere worked for Pee Wee but not for selling your home. Even in the kids to room hide most of the toys in closets or out of the room to take the picture. Even the neatest, most organized room with 300 toys looks cluttered.
The Dungeon - Call it a man cave or parlor or games room any way you slice it you need to appeal to both sides of the relationship. Not sure too many people will want to walk into the "Private Club of the Satan's Helpers!"
I recently read a tweet (post on Twitter) from @ebloch about one of Seth's blog posts talking about the decline of agents in today's world. Travel agents, insurance agents, real estate agents. Anyone that is a middleman in a transaction is in danger of being replaced by a cheaper, faster, more efficient way. He goes as far as to say that it may even be a consumer with a computer.
This is nothing new to me, I see it every day.
I am going to draw your attention to a quote from the blog.
"Think about how anonymous the typical real estate broker is. He will sell almost any house or represent almost any buyer. When selling a house, he has a fiduciary responsibility to represent that house to the best of his ability. Just like every other broker. The great real estate brokers do far more than this."
This quote describes perfectly the term "Joe Schmo Agent" from PropertyGuys.com radio commercials and marketing materials. Does an ordinary agent deserve the extraordinary fee charged in the transaction? What have they done in order to justify their fee?
It seems everywhere we go these days we run into an agent. I'll bet at least one person you know from High School is an agent today. Why do we have so many Joe Schmo agents out there? I'll let Seth explain it...
With nothing stopping people from becoming agents in the Tiger Woods Market, with no "Dip", we have become overrun by the unexceptional.
I just love seeing all the losers that live by the airport when I land in a plane. Do you think any of them used a real estate agent?
If you remember my Fly In A Think Tank post from last year you will recall the new realtor ads that were being proposed.
They have now started to air on TVs across Canada telling us all just how useless we are without real estate agents. So far I have only seen the one with the guy that bought the house in the flight path of the airport. Last time I checked airports were pretty hard to hide. I mean look at any map, you will easily see your proximity to an airport....or a school or a park or a 400 series highway. Heck take a drive around the neighbourhood with your eyes open and I am sure you will see these things.
I think I know where the they got there idea from...
I like to think this is a realtor in some foreign land helping his client avoid making the decision he could not have made on his own. Thank goodness he was there to point out the airport is "hidden" behind those bushes!!
Their new website lists all the wonderful things real estate agents can help you with. They do it with a virtual board game asking you questions along the way. Concept is neat but to have multiple choices like "A: $322,000 should ensure a quick sale.", "B: $503,000 means a hefty profit." or "C: Ask a realtor." insults your intelligence. Only a realtor would know that the difference of $181,000 is ridiculous?
On the question about marketing your home if you actually choose "Ask a realtor" you get great advice like "there is a list of 25 things a realtor will do to market your home. Things like virtual tours, other media sources and of course top of the list putting it on the MLS". Last time I checked on PropertyGuys.com there were virtual tours, various print media options and national exposure with thousands of properties listed from St John's NFLD to Vancouver Island BC not to mention hundreds right here in Waterloo Region and Wellington County.
Getting great advice when looking to buy or sell is a great idea. Just make sure you ask someone that doesn't think you are stupid.
Pretty snazzy camera. And they thought Justin brought sexy back.
Nothing like a fancy camera with rhinestones to impress the clients! Heck it must be better than using the Blackberry!
We often get into a debate at PropertyGuys.com about using the right tools for the job, specifically for photography. What is the best camera, DSLR or point and shoot? This debate has raged long and hard for one reason. Everyone has a DSLR except me. I would stop arguing because the DSLR photos our Private Sale Consultants take are amazing, but I have a secret weapon. A point and shoot with a wide angle lens.
That's the biggest issue with most interior shots of a home. Lack of W I D E angle lenses. There is no substitute for this. After that things like white balance, lighting and sharpness of the photos are needed to properly show your home. It's what you would want to see in a home you are looking to buy, why should you provide anything less?
I was sent this video from my colleague Dave. He is a bit of a camera junky and thought he would pass this on.
The video helps point out the importance of a good quality photo. It also points out why so many BAD photos are on agent sites. I was not exaggerating about the Blackberry photos. I have seen it. The agent standing across the street from the home with RIM's darling in their hand. Ensure you have high quality, wide angle shots taken of your home. If you are spending $15,000 to sell your home the least they could do is use it to buy a proper camera like we do.
Realtor Myth #2 - Real estate agents have all the buyers.
I hear this all the time. I always picture a a garden in behind the local real estate brokerage with new buyers poking out of the soil like pansies in the early spring. An agent standing there tossing a steaming load of sheep manure on them to ensure they are full of "nutrients". When the time comes they go back and pick a bunch of their favorites. Next, a drive around with their load of buyers delivering them to all the home sellers for a hefty price tag. Can you see it?
Truth - According to the Canadian Real Estate Association (CREA) 90% of home buyers are using the web to search for homes. The internet has changed the way business is done, just ask a travel agent. Buyers are more savvy, better informed and often know more about properties than agents because they have been looking and focusing on the few that they are interested in. Sure some buyers are looking in the paper and some are driving around in neighbourhoods but one thing most buyers have in common is the internet. Where this deep rooted misunderstanding comes from is when agents have homes listed they get calls from buyers. If the home seller's phone number or email address was on the website listing, who do you think the buyer would contact?
When that agent is standing at your door telling you about all the buyers he has, check to see if he has any manure under his nails.
We often get asked to advertise our clients in the paper. That the paper is where they NEED to be. We find many of our clients from ads they have placed in the paper after putting that FSBO.
Truth is people are searching on websites not in their local paper. Paper is still an additional form of advertising that we recommend, but if you are not on the internet then more people will miss your home than see it. Heck even agents say that people are searching EVERY website not just the agent sites.
I love the part at the end when she talks about how happy her clients are.
Just imagine how happy you would be paying yourself that $15,000 in commissions.
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