• Listing or Buying - What comes First?
• Increase your Profit Potential with a Clutter Free Showing
• Where do buyers come from?
• The numbers game, Choose Quality over Quantity
• It's all about Results
• Setting the right Closing Period
• For Sale By Owner
• Lets Get Impersonal

Questions? Please contact me for answers.

Listing or Buying - What comes First?

Unfortunately, there's no one right answer to that question. However, while each situation is different, there are some common factors to consider that may help you make the right decision. When demand is higher than the supply of housing, the resulting seller's market often brings buyers who are quick to make an offer when they see something they like. Also, their first offers are often quite good ones, since they don't want negotiations to drag on until another prospective buyer enters the picture. Your Coldwell Banker real estate professional can help you price your home smartly to take advantage of this market and ideally, your home will sell at a good price within a short window of time.

However, if your home does sell quickly, it doesn't necessarily mean that you have to leave it quickly. Your agreement of purchase and sale will specify your transaction closing date. While this date is typically sixty or ninety days from acceptance of the offer, you are free to choose a closing date that's much later. Again, since it's a seller's market, your buyers will likely be agreeable to your timing, since their primary objective is to get the house. That gives you additional time to find a house that's right for you, and you'll now be going into that process knowing exactly what proceeds you'll net from the sale of your existing home.

Selling your existing home first helps keep your offer to purchase your next home as clean, simple and attractive as possible. By eliminating the need for a condition to allow for the sale your existing property, you've removed any fear the seller may have about holding up the sale for a prolonged period of time, or the very real chance that the condition may never be fulfilled. Going in with a firm offer puts you in a much better position to negotiate the sale of your next home than you would with a conditional offer.

Your Coldwell Banker real estate professional can counsel you on the pros and cons of buying or selling first, and can help you to make an informed decision.

Increase your Profit Potential with a Clutter Free Showing

What makes a house show well? Often it's the little things that add up to a successful sale. First off, be ruthless in your assessment of the pros and cons of your house. Try to look at your house with an unbiased eye. Two of the things that most prospective buyers are looking for are space and evidence the property has been well maintained. You can accomplish both by reducing the clutter inside and outside your home. Outside, make sure that shrubbery is trimmed well back, and every window's view is bright and unobstructed. In the winter, ensure the walkways are shoveled and they're wide enough to allow easy navigation. In the fall, rake leaves every day. And in the summer, make sure you keep the garden well watered. Drooping plants and a shaggy, unkempt lawn can create the wrong impression.

Bring the same energetic approach to reduce the clutter inside your home. Even if your home is small, creating the illusion of space can make a big difference in your home's resale value. Remember, in this case, less is more.

Before people start trooping through your home, pack away anything that's very fragile or holds great sentimental value. As well, you might need to clear out some furniture to help create that all-important illusion of space. Perhaps you can even pack up just a few of the bigger, bulkier items first and arrange temporary storage at the in-laws, the cottage or the office until the house is sold. Then it's easy to rearrange the remaining furniture to create a spacious and airy feeling, and allow for easy flow through of traffic during showings.

While you're in the mood to clean up, why not tackle the clutter that's accumulated throughout the house? Tidy cupboards and other storage spaces in every room. A good rule of thumb is to get rid of anything that you haven't used in the past two years. Why not having a garage sale now, before it's time to pack up for moving day? Or gather up those still serviceable items and donate them to charity. If the task seems daunting, your Coldwell Banker sales representative can suggest professionals to help with any task ahead of you.

If you follow these suggestions, you can be sure that when the "For Sale" sign goes up you've increased the profit potential in your home. And before you know it, that "For Sale" sign will read SOLD !

Where do buyers come from?

Real estate professionals know that there's a lot more to selling a home than just putting a sign on the lawn and waiting for nature to take its course. There are many other sources of buyers, and a good real estate salesperson will utilize several different marketing approaches to find potential buyers. According to the National Association of Realtors (NAR), a US-based trade organization, agents used the following methods to attract buyers to their listings last year:

Yard sign - 75%
Internet - 61%
Open house - 51%
Newspaper ad - 48%
Real Estate home guide/magazine - 34%
Direct Mail - 17%
TV - 6%

That's where your real estate representative finds buyers, and it's interesting to note that the picture is changing. Over the last few years, the Internet has become an increasingly important tool used by home buyers in their home search. In fact, a 2003 NAR survey of home buyers showed that 71% of buyers used the Internet at some point in their search for homes, compared to only 41% in 2001. Those buyers who used the Internet were generally younger and earned more (38 years old, household income $70,700) than their non-Internet using counterparts (47 years old, $56,300). Internet searchers were more likely to have at least two earners in the household and have children residing in the home.

However, perhaps the most interesting statistic of all was that 89% of Internet searchers used a real estate agent. Also of note was that despite the fact that most started their search on the internet, 41% of homebuyers first found out about the home they actually purchased through an agent. So what does all this mean to you? Simply that, although more and more people are using the internet in the early stages of their property search - particularly affluent, younger buyers -- buyers still need the help of an experienced and knowledgeable real estate professional to help them evaluate the wealth of information that's available, and to guide them throughout the complex real estate transaction process.

You see, the more information that's available, the more you need a skilled Coldwell Banker real estate professional to help you interpret that information, and help make your home ownership dreams a reality.

The Numbers game - choose Quality over Quantity

Take a look at some Coldwell Banker numbers. Over the years, we've been repeatedly rated the #1 real estate franchise by such respected publications as Entrepreneur Magazine, Success Magazine, Franchise Times, and Income Opportunities Magazine. More importantly, here in Canada -- through our exclusive Ultimate Service® program -- we've achieved an overall customer satisfaction rating of 98% year after year. That satisfaction rating is the most important measurement of all, because it was assessed by our own customers. You don't have to take our word for it you can judge our performance by what over 20,000 satisfied Canadian home buyers and sellers had to say. And isn't that the measurement that matters most to you?

Since 1906, the Coldwell Banker® organization has been the premier provider of full-service real estate. In 2003, Franchise Times magazine's prestigious Top 200 issue ranked the organization number one in real estate and number eight overall. Additionally, the Coldwell Banker organization has the highest ranking in customer satisfaction from both first-time homebuyers and sellers who used national real estate firms, according to the J.D. Power and Associates 2003 Home Buyer/Seller Satisfaction StudySM.

So while it's comforting to know that the Coldwell Banker system has about 3,600 residential and commercial real estate offices with 113,800 sales associates globally to service your real estate needs the measurement that really matters is that we're first in customer satisfaction. And discerning home buyers and sellers choose quality over quantity, every time.

It's all about Results

You should judge your real estate professional's performance by what you net after the sale and also by how smoothly the desired outcome was delivered not by straight commission dollars. Remember, a discounted commission is no bargain, if it also means reduced service and possibly attaining a lower selling price than you might have otherwise realized.

Also keep in mind that real estate commissions are based on a successful outcome, not by the hours put in on the clock. If your real estate salesperson doesn't get you results, then it normally will cost you nothing. How many other professions can you think of that charge only on a satisfactory outcome? On the other hand, real estate salespeople often spend long hours and incur many expenses on various types of activities to help market your home. This can include preparing and placing advertising, holding open houses, prospecting for potential buyers, preparing presentations, exposing your home to prospects, qualifying buyers, and showing your home to other agents and potential buyers. You wouldn't want to pay an hourly rate for all these services especially if your home doesn't sell. The real estate salesperson assumes all the risk of not recovering these costs and the time they devoted to marketing your property.

If your house does sell quickly, it's often an indication of your salesperson's experience and expertise. Even in a strong market, houses won't sell if not enough people know about them. Nor will they sell if they aren't presented well or if they're not priced correctly for current market conditions. In fact, if you're fortunate enough to sell quickly, it will likely occur because your Coldwell Banker salesperson knows how to best take advantage of today's market. . They've already done the groundwork with their own ongoing prospecting, and have an established pool of potential buyers looking for homes in your area, and in your price range. Remember, just because your sale happened quickly doesn't mean there wasn't a great deal of work that went behind it before and after your listing was signed!

So remember, real estate performance should be measured by results in terms of how much you net, how little of your time was wasted, and how little stress the process created for you and your family. In other words, put the focus on how well you were serviced. If it was fast too, then just consider that an added bonus!

Setting the right Closing Period

As with most things in real estate, there isn't just one right answer as to what is the right closing period. This question will first come up when you prepare the listing agreement with your sales professional. As with all the other aspects of your listing, you want to choose a time frame that will have the most appeal for the greatest number of potential buyers. A ninety-day closing period is typical for resale homes, although sixty days is not uncommon. A ninety-day closing period provides ample time for your buyer to arrange financing, for the necessary legal searches and other requirements to be met, and for you to arrange for your next move as well.

Even if your situation will allow for it, you should be cautious of specifying a closing period for an unusually short period of time. Listings that offer a 30-day closing may have some extra appeal for a few buyers, but they also telegraph a message to all prospects that you are most likely anxious to be out of the home quickly. That could lead buyers to make the assumption that you've already bought another property, and have been unable to sell your present home for the price you were asking. Whether that's the case or not, when a buyer believes that they're in a stronger negotiating position, it may ultimately result in a less attractive offer than you might receive if they believed your home is in demand. If you're hopeful for a short closing period, it can often be more effective to have the listing specify that the closing period is negotiable . That way, a prospective buyer making an offer will typically add the closing date that's most convenient for them, and that makes your property all the more attractive. Leave it to your sales professional to try to steer the offer the way you want it behind the scenes.

A final word about the closing period specified on the offer make sure that before you sign your name to any offer that you've discussed the closing period with your lawyer first. Remember, it's not just a matter of how much time you'll need to pack up and move your lawyer needs time to complete tasks too!

For Sale By Owner

A real estate professional can market your home to a vast number of potential buyers in a variety of ways. There's a lot more to marketing a home than simply placing a sign on your lawn or an ad in the paper. Targeted direct mail, posting on board listings, internet promotion, referral networks, newsletters, community events, and open houses are just some of the elements your Coldwell Banker real estate salesperson may use in developing a customized marketing plan that's right for you. And by showcasing your property to a far greater number of prospective buyers, you stand a far greater chance of selling your property at a price and terms that are better for you. Cutting yourself off from these prospects simply cuts down your chances of getting the best possible price for your home.

Have you ever stopped to consider why a homebuyer might be motivated to purchase a home that isn't marketed through a professional real estate broker? After all, the property isn't being marketed by a company that's well versed in the process and is fully aware of the rights and obligations due to the buyer. Instead, it's being marketed directly by the homeowner, an individual who due to their own personal interests or their lack of experience may not represent the property accurately. So why then would a homebuyer want to deal with a FSBO? Simple! They are trying to save the commission too. So, if both the buyer and the seller of a FSBO are trying to save the same commission dollars, who really wins?

Remember, as a seller working with a real estate professional, you are in the driver's seat and you pay only for results. If your home does not sell at a price and terms that are agreeable to you, then you pay nothing. The real estate agent absorbs all the costs incurred while marketing your home, including advertising, signage, posting on the Internet, MLS® fees and more, regardless of the outcome. All things considered, it's not what you pay in commission that really matters, it's what you come away with as your net profit after the sale is complete.

Let's Get Impersonal

When setting the stage, you'll want to appeal to broadest possible audience, and that means making the choices that virtually everyone can live with. A fresh coat of paint may be in order. Consider light, neutral colours such as cream, taupe, sand or sage - to create an open airy feeling and help buyers visualize their own furnishings fitting in perfectly. Don't be insulted if they don't like your burnt orange carpet. It may look great with your brown leather chair, but they're probably picturing how it will look with their purple and pink couch. It's all a matter of taste, after all.

One of the simplest and easiest things to do to set the stage for selling is to reduce the clutter, particularly with very personal items. Pack up most of the family pictures, and such things as plaques, trophies, photo albums, the kid's artwork, treasures , etc. You've heard of turning a house into a home. Well, now it's time to reverse the process and turn the home back into a house. Take a look at furnished model homes for inspiration. You'll see the look is sleek, open, airy, uncluttered, and above all, impersonal. This look is your goal.

If the task of de-personalizing seems overwhelming, just think of it as the first step in the moving process. Start your packing now, and begin with those treasured family mementos that are most personal to you. Before you know it, you find that you've cleared out a lot of confusion, leaving just a few quality pieces, which will now be showcased to better advantage. Less is definitely more when it comes to home showings. If the task still seems too large, remember that there are many types of professional help you can call on now, including packers and home staging experts. You don't have to wait until moving day to call in reinforcements.

Your Coldwell Banker Sales Representative can also be a great source of information - with many successful sales to their credit, they know what buyers are looking for, and what sells.