1. No category

ALL NEW!
and
Plus
Rob Boyle
Canadian Real Estate Professional
presents...
Guide to Selling your Home
For ______________________________
Coast Realty Group 4200 Island Highway North Nanaimo, BC V9T 1W6
Office 250-758-7653; Toll Free 1-800-779-4966; Cell 250-802-3650
Website: www.HomeAndLife.ca
Email: [email protected]
This page is intentionally left blank
Copyright 2015 by Rob Boyle – all rights reserved
Not intended to solicit active listings
2
Table of
Contents
Greetings …………….………………………….……..…………….….
4
Who is Rob Boyle? Who is Coast Realty Group? ……………...
4
Benefits of using a REALTOR®; Sell to List ratio ....................
5
What is Agency? .......……………………………………………..……
6
Marketing Your Home .……........................................................….
7-8
Setting Your Home Price ………………….…………….…….….….
9-10
Communication/ Preparing Your Home for Sale …………..…....
11-12
How Do You List Your Home? …...................................................
13
Accepting Offers ............................................................................
13
Costs to Sell Your Home …............................................................
14-15
Note: Clicking on the hyperlinks in this booklet should take you right to the
indicated website or email address. Sometimes, though, you have to copy
and paste the link into your browser. If you have any questions on any
aspect of this booklet, feel free to contact me at any time. Contact info is on
the front cover. I look forward to your comments. Thank you. Rob Boyle
3
Hi there. Are you interested in selling your home? Whatever your plans, Coast Realty
Group and I will endeavor to help sell your home in a timely manner and at market
price. This booklet will delve into what is involved in listing your home along with
marketing strategies to help you get the best price. Feel free to contact me to obtain a
comparative market analysis. It’s free and you will find it informative and educational.
Rob Boyle
Who is Rob Boyle?
I am a member of the Canadian Real Estate Association
(CREA.) I am fully licensed and trained to help you with buying
and/or selling your home or other real estate holdings.
I grew up in southern Saskatchewan and my parents were both
REALTORS®. In the 1970's and early 80's, I used to help my
dad with commercial real estate sales and acquisitions
I also gained expertise in residential sales as I helped my mother who was an
associate at Century 21. Over the years, I have helped numerous clients buy, sell or
manage their real estate holdings. I always go the extra mile to help you move
forward in your life and make your real estate transaction uncomplicated.
Areas of Expertise… Single family homes, strata titled properties and golf course
developments. I help seniors make their downsizing move less confusing and stress free.
I also help anyone through the process of buying an investment property.
Sports and Interests… I golf and I’m a member at Nanaimo Golf Club; I love road biking
and physical fitness; Toastmasters is a great organization and I am a member of the
Woodgrove Toastmasters club. I enjoy family life, vacations and outings.
Who is Coast Realty Group?
The Coast Realty Group was founded in 1984. Its mission
was to establish an independent real estate firm
committed to fully service the needs of its clientele.
Buying and selling real estate is the main business of
Coast Realty. Property management, rentals, mortgage
and insurance are also included in Coast Realty’s array of
services.
Coast Realty Group has grown and expanded over the years. There are currently 13
offices from Ladysmith to Campbell River and from Port Alberni to Powell River. Each
office is independently managed and all the offices work seamlessly together to focus
on you, the customer, and your goals and needs. Coast Realty Group has also
developed a wonderful network of strategic alliances with other respected
independent Realty offices and we work well with all real estate companies. Visit the
Coast Realty website at www.coastrealty.com to view properties and to get the latest
information on real estate news.
4
Let a professional REALTOR® help you sell your home!
Here are three main benefits of using a professional REALTOR® to sell your home...
1. You will save time: When you decide to sell, your goal is to move
on with life, not to be in limbo. With Rob’s marketing techniques, you
will sell your home for market price in a timely manner. We will give
you an estimate of how long it will typically take to sell your home.
2. You will save money: Marketing your home to a wide
audience increases your exposure and the numbers of
people who are buyers. The result? More potential offers
that will increase your chances of success.
3. You will be more relaxed: You can get on with your normal
work and family life as Coast Realty Group and Rob are hard at
work selling your home. We will handle many if not all details of
the sale of your home. The “to do” list is large and we will keep
you as informed as much as you want to be.
Sell to List Ratio
An important statistic is the ‘Sell to List’ ratio as opposed to overall sales. Coast
Realty and I excel in this department. We are trained to sell your home!
5
What is Agency?
Designated Agency: Designated agency is where you the buyer (or seller) have a direct one
on one relationship with your REALTOR® and the Realty Brokerage. Your REALTOR® will give
you undivided loyalty and exercise competent care and skill in performing all assigned duties.
Coast Realty Group (The Broker)
ABC Real Estate Co. (The Broker)
You
The Seller
Your Coast
Agent, Rob
The
Buyer
ABC Buyer’s
Agent, Jane
* Important note: Rob will be your listing agent but each and every REALTOR® has the same opportunity to sell your home!
Dual Agency: Dual agency occurs when a Realty Brokerage and/or a REALTOR®
represents both the buyer and the seller simultaneously. Confidentiality, loyalty and full
disclosure are important and necessary in this relationship.
Coast Realty (The Broker)
Coast Agent
Rob
Coast Agent
Rob
The
Buyer
The
Seller
Customer relationship: This type of agency occurs when you choose to use the
services of a REALTOR® without having any type of agency relationship. An example
of this is when you meet a REALTOR® at an open house or you call a REALTOR® who
is on office floor duty.
Coast Realty Group
(The Broker)
- Floor duty
- FSBO’s
- Mall kiosks
- Casual meet
- New development
projects that Coast
represents
Rob
6
Marketing Your Home
Marketing your home is an important thing. We want to get the word out
in a big way that your home is for sale. If we have a large amount of
potential buyers, that will increase the odds of not only making a sale
but at a price that is desirable to you. So how are we going to do it?
Internet: 80% of real estate sales
occur as a result of an on-line search
and this number keeps growing. The
Multiple Listing Service (MLS®) is one
of the best ways to get the word out.
The MLS® system attracts over
600,000 unique visitors each month.
You can’t beat that advertising.
Check out the MLS website yourself
at www.mls.ca.
The Coast Realty Group website
www.HomeAndLife.ca
www.CoastRealty.com has a strong
local search engine that gets tens of
thousands of hits each month. The Coast site also links to many more home sale sites
as shown in the diagram above. Your home will be listed on my website as well. You
will get maximum exposure which will translate to a potentially faster sale for your
home.
Photography and video: Professionally done photographs, a
YouTube video and/or a 360º panorama shots will highlight your
home in the best possible light. A picture really is worth a thousand
words and it can translate into thousands of extra dollars if done
right! Pictures and/or video is uploaded immediately to the MLS®
system, the Coast Realty website and my YouTube Channel.
.
Feature sheets: I produce top end feature sheets.
These highlight the positive details of your property
such as square footage, neighbourhood information,
number of bedrooms, bathrooms and special features
of your home. Property disclosure statements, floor
plans and other information may be inserted. Mortgage
information should also be included to attract Buyers to
your home. A new plan called the Canadian Home
Customization Plan has spurred the sale of many
homes in the past few years.
REALTOR® tours/Specialty tours: At Coast Realty Group, we conduct house
tours for our in-office REALTORS®. We also attend tours of other real estate
companies and conduct some of our own. The more people that have exposure to
your property, the better chance we have of selling it for market price.
7
Signage: A professionally designed sign on your property will
highlight that your home is for sale to the general public. The sign
will always have the salesperson’s name along with the company,
phone number and any other pertinent details.
Lawn signs, lawn posts, hanging signs and window only signs may
be used. A rain protected feature sheet container is often added to
the sign post so the interested party can easily retrieve information.
There are other options if you choose not to have a sign present.
Open Houses: Open houses highlight your property to the general
public and to neighbours who may have friends and/or family who are
looking to move. I conduct many of the open houses myself. They
are well advertised on the day of and several days before to help get
maximum exposure. I always arrive early at an open house to make
sure the home is well prepared and looking good.
Lock Box: A lock box is often used at your home. This allows your home to be
opened up by a licensed REALTOR®. The lock box will allow your home to be
accessed by all REALTORS® from all brokerages. The lockbox tool greatly improves
the exposure your home will have and this will ultimately lead to a faster sale.
Print Media: There are several forms of print media we can use to promote and
advertise your property. Some of the newspapers or magazines I use locally are
Real Estate Review by the Nanaimo News Bulletin, Homes Weekly by the Nanaimo
Daily News and the Real Estate Book. Most print media have integrated marketing
with other websites and social media.
REALTOR® referral and commissions: A buyer’s agent
is paid when he promotes and ultimately sells your home.
Agents can come from any real estate company from any
province or any country. At Coast Realty Group, we
make sure the buyer’s agent is paid his or her full
commission. We also offer referral commissions to any
REALTORS® who recommend your property. Bonus
fees are sometimes given to generate even more interest
in your property. The bottom line is we want your home
to get as much exposure as possible.
Reports: I will keep a detailed record of any and all interest in
your property. My report includes the date of interest, what
REALTOR® showed your home, the time your home was shown
and any feedback that was received. I will also keep track of
any open house details and the comments that were left by
prospective buyers. The reports and feedback are valuable
tools for you as a seller. You will be informed as much as you
want to be informed whether it is daily or weekly.
8
Setting Your Home Price
One of the most important things to do in order to sell your home is to price it right. Here
are the benefits of a properly priced home…
* It will sell faster because it will be exposed to more buyers.
* You will see not only more offers but they will tend to be at a higher price.
* You will increase the odds of a multiple offer situation.
* You will get tend to get a higher number of REALTORS® eager to show your home.
How is your home price determined?
Your home will have three prices or values
attached to it. One is the potential selling price,
second is the list price and third is the final
selling price. A historical price analysis is one
way of determining your home’s value. A direct
price comparison to homes that have recently sold
Subject home – your house!
in your neighbourhood is a better way to
Value to be determined
determine value though. This process is known
as a Comparative Market Analysis or CMA for
short. It’s important to make sure that the subject
house (your home) and the comparative homes
are reasonably similar. Since no homes are
exactly alike, adjustments have to be made in
order to determine the value of your home.
Comparable 2
Comparable 1
Adjustments may include number of bedrooms,
Sold
for $315,000
Sold for $345,000
number of bathrooms, square footage, interior
decorating and renovations, location, etc. The price of the comparable home is always
adjusted towards the subject property. For example, we would reduce the value of the
comparable if it had superior features to your home. We would increase the value of the
comparable if it had inferior features to your home.
Over-pricing, under-pricing and getting the right price!
Over-pricing: Sometimes sellers want to pad their list price by adding in REALTOR®
fees, lawyer’s fees, renovation costs or just plain profit. Sellers may feel they need a bit
of “wriggle space” in order have room to lower the price when an offer comes in. The
problem with that is buyers generally just bypass an overpriced listing and focus on
another home. The other home (competition) will win out, so to speak.
An overpriced home often goes through several price
reductions as the listing contract expires, is cancelled or
is adjusted.
The biggest problem with overpricing,
however, is the seller loses time to close the sale. The
seller will often net less money too because an
overpriced home loses its initial market freshness and
rate of activity. A home that is too overpriced may not get
any offers. It’s always best to get an offer you can refuse
than no offers at all!
9
Under-pricing:
The marketplace can sometimes
make corrections to an underpriced listing. Homes that
are priced lower than market demand may get multiple
offers which would tend to drive the price upward to
market value. The challenge with underpricing is you
still may only get one offer with which to deal. You
may be leaving potential profits on the table.
The real key in pricing your home is not to underprice it
or to overprice it but value it correctly the first time.
Pricing a home is part art and part science. If done
correctly from the outset, you will have the best chance
of obtaining market price in a timely manner.
Pricing Pyramid: Properties prices too high
attract fewer buyers. Properties priced at
market value generate more buyer interest.
Buyer’s market, Seller’s market? When is the right time to buy or sell?
Are you concerned over higher prices in a Seller’s
market or lower prices in a Buyer’s market? Don’t be.
Getting $30,000 over your asking price in a Seller’s
market sounds good but you will most likely have to
pay more than the asking price when you buy your
next home. The same is true in a Buyer’s market. If
you get $30,000 less than you wanted for your home,
that’s not a problem because you will most likely get a
“Buyer’s market deal” when you purchase again. If
you own a rental property in a Buyer’s market, you
may want to hold onto that property and rent it out until market conditions improve. The
exception to this rule is that you may simply want to get out of the rental business or
you need the money for other ventures.
The advice that I often give people is not to attempt “pin-pointing” the market and
speculate on prices. If you feel you want or need to move, then do so. As your
REALTOR®, I will help you buy and/or sell in a timely manner. The main key is to move
forward with your life goals.
SOLD – Your goal; My goal
My aim, along with Coast Realty Group is to sell your
home for the most amount of money in the least
amount of time. We will keep in touch with you during
the entire process whether your home sells in a few
days or whether it takes longer. Getting an offer
within a short time does not mean you have to move
right away of course. You and I will look at closing
dates which could be 30, 60, 90 days or more in the
future. Price plays a role in the timeline and this will
form part of the discussion on whether or not to
accept the offer.
10
SOLD WITHIN 21 DAYS!
542 Rosehill Street
Communication
Communication is very important between you, me, the
potential buyer and related parties. I can update you
two times per week, once per month, whatever you
want. Whether it is face to face, telephone, email, text,
fax, Skype, Facebook, snail mail or other, I will make
sure each party is always kept fully informed of any
and all details.
Please visit my website to read a fun article on
communication on “Rob’s Blog.” That’s
http://homeandlife.ca/improve-your-communication-skills/.
Preparing Your Home for Sale
Is your home attractive? Does it have adequate
curb appeal? Buyers that walk into your home will
notice every detail and evaluate it based on
homes that they have already seen. A well
maintained home will outshine the competition
and your home will even sell in a slow market. I
will give you a frank and honest opinion on what
you need to do to put your best face forward to
reap the rewards of more offers that are at a
higher price. I can arrange contractors such as painters, home stagers, and repair
people to come in to enhance or fix items in need of repair. You can view a list of
resource people at http://homeandlife.ca/renovations-resources/.
De-personalize your home: Buyers don’t necessarily want to see your family
pictures on the wall so you may want to take them down or simply reduce their
number. If you have converted a bedroom into a kid’s play area, it would be prudent
to convert it back for the time being. If you have altered your double car garage into
a 5 room office studio, you may want to change it back to what it once was. I’m sure
you love your family pet and your pet loves you. Your friendly pooch may turn into a
jumping growly dog when new people come a-calling so consider removing your pet
during showings. The main purpose in doing all of this is to attract a higher
percentage of buyers. Please don’t do any major reconversion though without
talking to your REALTOR® first.
Getting rid of clutter: A prospective buyer is purchasing a house – not your
furniture, your clothes and your knick knacks. A good tip is also to reducing the
amount of clothes you have in your closet. Fewer clothes will make them seem
more spacious. Also, a simple re-arrangement of furniture will open up areas and
make your home seem bigger. Consider renting a storage locker to temporarily
store extra furniture or other belongings. The other thing you may want to do is to
have a garage sale to move out unwanted items. There are services to help you.
11
Replacing old appliances: Are your appliances old and in
“partial” working condition? Upgrading your fridge, stove, etc.
will definitely help the sale of your home. You don’t have to
buy the fanciest appliances on the market but think about
getting decent ones if yours are outdated.
Vacuum and Windex: Get out that vacuum cleaner and run it on the carpet a few
times.
Break out the Windex and get rid of those streaks on the windows. Sweep
up any debris from under the tables and chairs. Ask your REALTOR® to come in to
“smell” your home. You may be immune to the smells because you have become
accustomed to them or there may be a mold issue. A fresh nose will give you direct
feedback as to how your house smells to newcomers.
Reno’s: Major renovations made just to sell your home should be avoided because
you will not recoup the costs. The only exception to this is a leaky roof as this has to
be repaired for risk of future problems. Other renovations such as changing flooring
should not be done. If you did replace it, you will tend to limit the buyer’s desire to
have carpet, have hardwood floors, tile, etc. By not replacing it, you can actually
increase your negotiating power by agreeing to pay for part of the reno's or reducing
your price so the buyers can choose for themselves.
Minor renovations are another matter. Fix that leaky faucet,
repair that torn screen and tighten up loose door knobs. If you
have a water stain on your ceiling, don’t just cosmetically hide it.
Fix the problem that caused the stain in the first place and
disclose it to the buyers. On the outside of your home, touch up
your fence with paint and repair any related items. Do a good job
during your repair work. Buyers will appreciate your efforts. I work with several top
professionals to help you declutter and shine up your home. Call me for contact info.
Landscaping: Your lawn should be cut and looking as good as it can be. If you
cannot do this yourself, consider hiring a landscaping professional. Choose the right
hedge trees for your property (see below.) Bark mulch really makes your garden
area look superb plus it cuts back on the number of weeds that appear. If you are
selling in the winter, make sure your driveway is clean of snow and de-iced. A wellmanicured property will help you sell your home for a higher price. It’s literal curb
appeal! Visit http://homeandlife.ca/renovations-resources/ for more information.
Western Reds are more or less deer resistant
The deer ate the bottoms of these ‘soldier’ trees
12
How do You List Your Home?
To begin, Coast Realty Group and I would like to thank you
for the opportunity to list with us. You will receive the very
best in professional assistance in selling your home for
market price. There are many details that are involved in
the selling process. You can rest assured that your home
and/or property will be well looked after during the process.
Listing Agreement: A listing agreement is a three to five page legal contract which
allows us to actively market your home for a specific amount of time. We will outline
the details of the agreement which includes the list price, a legal description of the
property, chattels included or excluded and our schedule ‘A’ which lists our services.
Other details will be discussed such as liens, rights of way, building schemes, charges
against the property, etc. You will be committed to a pre-established marketing
service fee which is paid upon completion of your sale.
Property Disclosure Statement: This five page document is required when you
have lived in the home. You will be asked to check off particular items that a buyer
would want to know before making an offer on your home.
Data Input Sheet: All data must be correct before your home goes on the MLS®
system and before marketing begins. I will ensure all details such as square footage,
mortgage information, style of home, etc. are correct.
Working with a REALTOR® brochure: This pamphlet must be signed by you so
you are fully aware of your agency relationship and the commitment that I will give
you.
Fintrac and other documents: Fintrac is an acronym for Financial Transactions and
Reports Analysis Centre of Canada. It is a Canadian Government body which
analyzes financial transactions in Canada.
Other: There may be other documents you need to produce or sign. It’s not a
problem if you don’t have them because we can locate them. These documents may
include a property land title certificate, property tax receipts, mortgage verification,
warranty items on appliances included in the sale, receipts for heating or any home
improvements, etc.
ACCEPTING OFFERS
Upon receipt of an offer, I will help you understand the nuances of
the contract before you accept, reject or make adjustments to it.
There may be items to be clarified, inclusions, exclusions, closing
and possessions dates and other conditions that may apply. I will
help you develop an appropriate response (negotiation) within the
timeframe required. The goal of course is to make sure your
contract solidifies all the way to closing and possession dates.
13
What will it cost to sell your home?
The following list of fees is generally associated with selling
your home. There may be more or less depending on the
transaction. Check with me for more details…
Your mortgage: You are obligated to continue paying your
mortgage until the new buyer takes over. You may be living
elsewhere but your fees will continue until the day the buyer
officially takes possession.
Financial fees: Your lender may charge you a mortgage discharge fee, penalty for
early payment of your mortgage, any interest owing, mortgage assumption fees, etc.
Talk to your lender about porting your mortgage to your future home if you
have a mortgage. It may reduce or eliminate penalties and fees.
Legal fees & adjustments: Legal fees related to your sale are usually lower than a
purchase. The cost may be approximately $400 for a simple cash deal to $1400 for a
transaction that involves clearing a complicated title. Additional fees are land title
registration fees, courier and office expenses, etc. The taxes of GST and PST are
added to the cost of a lawyer’s conveyance fees.
Adjustment fees include amounts owning on unpaid property taxes, possible tax
penalties, unpaid strata fees, special assessments owing and any hold-back
concerning future work to be done. There seller may be responsible for smaller utility
costs such as power, garbage, water, gas and so on up to the date of possession.
Any credit given to the seller may be adjusted at the lawyer’s office or by the
utility companies themselves.
A professional full service REALTOR®: Some REALTORS® charge a flat fee
while others charge a percentage of the sale price of your home. Sometimes the
buyer will pay ½ of the REALTOR® fees but not often. Talk to your individual
REALTOR® to see what package can be worked out between you, the seller and the
REALTOR®. GST is added onto the cost of a REALTOR’S® fees.
Insurance: You are obligated to pay for insurance of the home
you are selling until possession. We always recommend extending
your insurance coverage one full day past the possession date.
Tenant: You may have a tenant on your property. If so, you are legally obligated to
take care of that tenant according to his or her rental agreement. If a tenant has 6
months left on his or her lease, you will be obligated to give that tenant the full 6
months unless he or she agrees to vacant the premises early. That may cost you an
extra one, two or three months extra rent -- whatever you and your tenant agree to. If
your tenant is on a month to month tenancy agreement, you are obligated to give him
or her a full two months’ notice to vacate and that is only if you or an immediate family
member is planning to move into the property or if there are substantial renovations
over a long time frame. More information may on BC’s residential tenancy act at
http://www.rto.gov.bc.ca.
14
Moving: Do it yourself moving is cheap but you may
experience many unforeseen problems if you’re not
good at it. A full service moving company can make
your life a lot easier. Make sure you get at least 3
quotes from reputable companies. You may have
storage costs and/or box packaging assistance fees.
Tax on Capital Gains: Is the home you will sell an investment property?
Revenue Canada says that 50% of the profit is taxable as a capital gain. Let’s look
at an example of a home purchased several years ago for $275,000 and was just
sold at $425,000. The profit is $150,000. 50% x $150,000 = $75,000. You would
have to add $75,000 to your taxable income for that year. Your immediate thought
may be that you will owe ample extra income tax for the year. This is partially true -please read on.
There are several ways to reduce your taxes owing such as spousal income
splitting or repurchasing another investment property. Buying RRSP’s is also
a great way to divert your income on a particular sale.
Other investment tips are as follows…
• Keep your rental income & expenses separate from the capital gain on
the property in the year of the sale. They are taxed differently in
different parts of your tax return.
• You may not want to depreciate your investment property over the years
because any depreciation will be realized as income in the year that it is
sold.
• Buying a larger home on the basis you will rent out a portion of it will
help pay for the home by offsetting a portion of the cost with rental
income.
Please talk with your accountant for detailed investment advice and to fully
realize any benefits you can derive.
Capital Gains Free: Is your home your principal residence? If
so, here is some good news for you. You will not have to pay
a dime of capital gains tax on any profits from the sale of a
home that is your personal residence. How does that sound?
Rob’s Core Values: To always live by the “get by giving” philosophy; To
always make my client’s #1 goal, my #1 goal; To always live up to my
standards, despite temptations to lower them; To always be willing to work
toward a common good; To always do what I say I’ll do, sometimes more, just
never less.
From the Floyd Wickman Program – Rob Boyle, Graduate
15