Information for Sellers

Why use a real estate broker?

Selling a home takes more than just putting a "for sale" sign out front. You need an agent with experience and training to help you determine the right price, come up with an effective marketing strategy, and anticipate and solve any problems that come up during the selling process. A real estate professional can help you with every part of selling your home, and offer you a smoother, hassle-free experience.

When you’re selling your home, there are a number of advantages to working with a broker:

  • He/she knows real estate values in your neighbourhood and will help price your home competitively by preparing a market analysis of homes that have sold, competing homes that are still on the market and homes that were on the market but didn’t sell.
  • He/she will establish a marketing strategy for your home, ensuring that it’s exposed to as many potential buyers as possible.
  • He/she takes care of the tasks involved in selling a house, ensuring that the transaction is simple and low-stress for you.
  • He/she is an expert in the home selling process and will advise you of your rights, options and obligations.
  • He/she is an experienced negotiator and will work for you to get you the best possible price.

Effective marketing for your home

A broker can help you market your home by exposing it to as many potential buyers as possible. The first step is putting it on the MLS. But listing your property is only the beginning; your broker will prepare a personalized plan that includes everything he/she plans to do to sell your property. Your real estate broker will ensure your property will be aggressively promoted through:
  • A posting on the Multiple Listing Service (MLS)
  • Appropriate property advertising publications
  • The Royal Montréal website
  • Your real estate broker's website
  • Mailings to potential buyers in your area


 

Renovating for resale
Renovations don’t have to be expensive or extensive to offer you a good rate of return. In fact, a quick coat of paint can go a long way to boosting your selling price. Just make sure your new décor is tasteful, with shades of white and tame versions of popular colours.

The kitchen and bathroom are your best bets for renovation with the highest payback. Take a look at these average rates of return for home upgrades:

  • Interior painting and décor - 73%
  • Kitchen renovation - 72%
  • Bathroom renovation - 68%
  • Exterior paint - 65%
  • Flooring upgrades - 62%
  • Window/door replacement - 57%
  • Main floor family room addition - 51%
  • Fireplace addition - 50%
  • Basement renovation - 49%
  • Furnace/heating system replacement - 48%
  • New lighting - 84%

As an expert on home sales trends in your neighbourhood, your Royal LePage Sales Professional can suggest which areas of your home could benefit from renovation and increase its value.

 

Getting your home ready to show
If you’re planning an open house, or are expecting buyers to be looking at your home, make sure their first impression is a good one. Here are few hints for making your house look great to potential buyers:

Exterior

  • House in good repair
  • House number easy to read
  • Eavestroughs, down spouts and soffits in good repair
  • Garage/car port clean and tidy
  • Litter picked up
  • Cracked or broken window panes replaced
  • Lawns and hedges cut and trimmed, garden weeded and edged
  • Walks shovelled and salted
  • Boot tray inside front door
  • Doorbell and door hardware in good repair
  • Porch and foyer clean and tidy

Interior
  • Chipped plaster and paint touched up or replaced
  • Doors and cupboards properly closed
  • Leaky taps and toilets repaired
  • Burned out light bulbs replaced
  • Squeaky doors oiled
  • Mirrors, fixtures and taps cleaned and polished
  • Seals around tubs and basins in good repair
  • Floors cleaned, garbage containers empty
  • Inside of closets and cupboards neat and tidy
  • Appliances cleaned
  • Countertops neat and polished
  • All lights turned on
  • Air conditioner turned on in warm weather
  • Fresh air in house
  • Fireplace lit in cooler weather
  • Halls and stairs cleaned
  • Drapes opened during daylight
  • Carpets freshly vacuumed
  • Fresh flowers in various rooms
  • Jewelry and valuables locked safely away or taken with you
  • Valuable property, such as art, vases and figurines out of reach, out of sight or locked away
  • Pets absent, where possible, or contained during the showing, and litter boxes clean


 

Understanding market conditions

The real estate market is always changing, and it helps to understand how market conditions can affect your position as a seller. Your agent can provide you with info on current conditions and explain their impact on you.

Buyers’ market

The supply of homes on the market exceeds demand.

Characteristics

  • High inventory of homes
  • Few buyers compared to availability
  • Homes on the market longer
  • Prices tend to drop

Implications
  • More time to look for a home
  • More negotiating leverage for buyers

Sellers’ market

The number of buyers wanting homes exceeds the supply of homes on the market.

Characteristics
  • Smaller inventory of homes
  • Many buyers
  • Homes sell quickly
  • Prices usually increase

Implications
  • Buyers may have to pay more
  • Buyers must make decisions quickly
  • Conditional offers may be rejected

Balanced market

The number of homes on the market is equal to the number of buyers.

Characteristics
  • Sellers accept reasonable offers
  • Homes sell within an acceptable time period
  • Prices generally stable

Implications
  • More relaxed atmosphere
  • Reasonable number of homes to choose from