Hi Everyone, Stephan Gauthier here Ottawa Realtor and I'm here today to talk to
you about a very important topic many of you you're gonna think about doing when
you're selling your home and that is selling it on your own so actually
taking care of your own home sale rather than hiring a realtor and today with
that in mind I'm gonna go through some steps in terms of tips for you should
you decide to sell on your own to make that process very smooth for you and for
other Realtors. Now you might be asking why would a Realtor take the time to put
together a video and provide tips on how I should sell my own home well it's
pretty simple. I'm a big fan of educating my clients and educating the public at
large. I'm also a huge fan of efficiency so if you know how to do this if you
want to do it and these tips will help you, great! You're not not only going to
do it better, you're gonna have a far greater respect for Realtors in terms of
the difficulty and the amount of work required to sell your h ome plus
ultimately if you can save some money fantastic. If you're gonna sell on your
own chances are you're gonna do it anyway regardless of this video but if
you end up going through these steps and you decide you know what there's a
little bit too much or maybe I should leave it up to a realtor, a professional,
an expert to take care of this then by all means if you do give me a call, shoot
me a text, an email. I would be happy to talk to you about it go through those
details with you to tell you what that really looks like so let's jump right
into it step 1 get yourself a lockbox.
Drive order home depot drive over to Lowe's, whichever one's closer even Home
Hardware may have them get yourself a lockbox combination lockbox that hooks
onto your door get a spare key put that spare key in there you're good
to go. Kind of looks like something like this pretty straightforward you open
that up you got a code slap that in, you're good to go the reason why you
want this is that you want to make your home easily accessible you don't want to
be there when you're what actually having a showing against
popular belief to companies that are responsible for for sale by owner
transactions, you really should step out of the home you should leave the realtor
with their client alone go through their home provide their own kind of feedback
and chat with each other without you being at home. If you are in the home
that will be really to your detriment you're not going to be providing the
realtor or client with any more information than you should have already
put into your listing so there's no purpose in you being there. Really
it's just going to add to the level of anxiety or uncomfort for that buyer
rather than actually help you with the sale of your home so leave your house
put a lockbox on there make it easy for agents to access it and just trust that
they are professionals, they are trustworthy they're not going in your
home to fiddle around or steal anything. They're there to sell a home
and they are bound by a strict code of ethics obviously by law as well so you
could trust that if a Realtor enters your home they're going to treat it with
respect they should leave card you know depending on your instructions
as well on what they should be doing but don't be afraid to let them have the
roam of the home on their time.
Step two, answer your phone
you have now taken on an entirely new task which is pretty close to 24/7 so
answering your phone, answering your text messages and answering emails is going
to be vital and how fast you respond to these things is going to be extremely
important to making sure you capitalize on showing requests so I'll give you an
example if an agent looking at booking seven homes which is pretty common on a
very busy day with an eager buyer. If your home is is one of seven that is
unavailable so you can't be reached or you don't reach that agent back within a
reasonable amount of time guess what you just lost out
they've proceeded with the other six homes likely one of those homes ended up
being that buyers dream home and unfortunately you missed out. Your home
is now remaining on the market longer than it should because it hadn't had the
chance to to have a buyer walk through because you were unable to answer your
phone either because you're in meetings you have another
you're likely if you're retired fantastic probably not an issue but for
most of us who still work regular hours or extended hours depending if you're a
business owner. Having the second career to manage is going to be a lot so I warn
you ahead of time be prepared for your phone and your emails to be having to be dealt with quite quickly.
Step 3, if you're going to do this do it right take
advantage of a website a landing page a designated location basically online
where all of the information about your home is located so whether that be a
full engaging description along with 30 40 50 photos I mean certainly you can
depend on the MLS to give you that exposure and a lot of these companies
that provide you with these for sale by owner opportunities will limit that
ability will limit how much material you can provide so don't despair you know
take a look online there are countless options in terms of landing pages
websites many of them are free just involves your time and effort and
learning in terms of what that looks like you could post all the photos you
can even get yourself a custom domain or URL so you know 123johnstreet.com
and that will be vital. Not only will that be important to showcase your home
and all of its glory but it will be important to drive traffic and people
buyers to your home to see it so you're really stepping up your game and
engaging buyers on a far greater level than most people selling their own home would.
Step 4, with what I just mentioned in regards to
landing pages and a website you should absolutely be ready to spend
marketing dollars. What does that look like well you're going to want to spend
some money on professional photos. Do not go in there with your iPhone or your
samsung or whatever you have or somebody you know that is passionate about
Photography really just spend $100 to $150 a dedicated real estate photography
company will come in they will dedicate the time to your home take the best
shots the best angles the best lighting exposure everything about your home will
be well taken care of super high quality photos you might even
offer videography so videography can be anywhere from two to four hundred
dollars maybe not necessary depending on the market you're in I mean if you're
looking at luxury listing yes absolutely spend the money necessary for
videography. With that you're gonna want to then spend money on advertising and
marketing online so you have a landing page you have a website you have
professional photos you might even have a video. Nobody's going to go to any of
these places if you don't spend money on advertising on Facebook, on Google
perhaps even on Kijiji you can post this information on your Facebook page your
personal page I mean most people on your personal page are probably not buying
but they can share this amongst themselves that's free. You could post
this to Facebook Buy/Sell groups also free you're really gonna get the most
value if you put together a business page pretty straightforward it's free
but ultimately it will allow you to spend money on sponsored ads targeted
detailed ads targeting certain demographics of the area and for
potential buyers for your home so don't be afraid to spend some money in fact
most agents when listing a property probably are spending anywhere from 50
to even 500 plus dollars on ads alone that's not even counting print material
I'm talking straight online marketing.On top of that you have your photos you
also have your videography so really consider this in terms of savings on
doing on your own really you're gonna be allocating a good portion of money
toward that in order to drum up business in order to bring buyers to your home and in order to sell it quickly
Step 5. Step 5 is very important for a number of
reasons and it's about Commission so you've jumped into this with an
attempt to you know save thousands of dollars which is good on you
Congrats, the important part here is to make what you're paying in terms of a
commission to a buyer's agent one hundred percent clear you don't want to
leave that out in the open as you know to be discussed or to be negotiated or call
the seller to confirm again a lot of the companies out there that allow you to
sell your home on MLS for a flat fee don't make it clear in terms of the
commission that you're offering so you're gonna get calls you're gonna get
messages and emails asking for this and again a lot of these companies I've
heard from countless people where they believe that it's negotiable based on
the offer. Don't make this mistake absolutely do not do it. Decide what
you're willing to pay an agent from a buyer's perspective whether it be 2%, 2.5%
maybe even 3% if you want to stand a part but do it regardless of the offer
so if you're offering your home for $500,000 and somebody comes to you and
offers you for $480k, you're still offering 2%. If they offer you $510k, it's 2% if they
offer you for $450k, doesn't matter they can offer you a dollar you don't have to
sell your home to them keep this in mind but what's most important is that the
Commission is that no point negotiable. It's clear going into it what that
buyer's agents gonna get paid for their work and it's no longer a point of
contention during negotiations so absolutely important make sure if you're
on MLS with a company that specializes in for sale by owners that you
direct them to clearly indicate the payment that you are offering and I
strongly encourage you to offer at least 2% because anything less is really gonna
you know it's gonna be to your detriment in terms of what other listings are
offering so in that scenario not that buyers will be prevented from seeing
your house but there may be a reluctance there in terms of that agent you know
standard Commission is 2.5% and if a buyer is working with that agent the
expectations is that agent get paid 2.5 if you're only offering 1.5 that
probably won't you know ruin your deal but it's it's a consideration that
the difference between what you're paying and what the agent is expecting
will then have to come out of the buyer so most buyers will not want to do that
they will not want to take care of that gap in terms of commission and I
would expect most agents would not fight them on that but you know be as fair as
you feel you can be knowing that you are already saving thousands and thousands
and thousands of dollars so I strongly encourage you to do it offer 2%
at least just so you're amongst everyone else 2% is pretty common 2.5% is
is even more common but again no expectation that you do that just offer something.
Step six. You decided to list your home January 1st. At that time you
spoke with the company that you hired to help you with this process and they gave
you some comparables they gave you some stats
you know what's active on the market what's sold that's comparable to your
home perhaps they've decided that your home is anywhere from $480,000 to $520,000. You
being very reasonable decide you know what let's go $500,000 it's perfect it's
right on the the threshold of that value and you don't sell so two weeks, 30 days,
45 days maybe even 60 days goes by you have still not sold your home now what's
very important during this entire process is that you keep yourself up to
date what's been happening likely other homes have sold why did they sell why
have you not sold. Have there have been new homes on the market? What's the average
sell time? What's the average price for that comparable home? What this will do
is help you stay up to date with what's going on in the market because the
market changes and shifts quite rapidly it doesn't take six months or a year for
that market to change and if other comparable or even superior homes are
selling for ten twenty thirty thousand dollars less than what you're asking
well then you will stagnate your home will remain on the market longer than it
should and ultimately when you do sell you will sell it for far less than you
could have achieved how you stayed on the pulse and lowered your price
accordingly so be aware of that I mean price is not the only thing to
consider here I mean you're gonna you're going to be doing some extensive
marketing likely your location is of
consideration as well if your location is great your show-ability of the home
is fantastic and it's still not selling then it is price and you should be aware
of that you should be asking you know that company that's provided you with
that information to provide you with more up-to-date informatio. What's been
happening now in the last 30 days? My home hasn't sold. So keep yourself up to
date research regularly in order to get what you want out of this.
Step 7. I left this last because of all the things that I discussed today the main
reason you're doing this is to save money. You want to save money. You
consider yourself capable and more likely you are capable of selling your
own home. Really evaluate the savings here now let's go back to the
$500,000 example you're selling your home for $500,000.
%5 of that is $25000 plus tax so in this
scenario you're really immediately looking to save half that do not
consider that $25000 savings because the likelihood of
attracting a buyer that does not have an agent representing them is extremely low
and that agent being in business to help their clients and ultimately to make a
living will expect to get paid as well so the expectations there that 5% is
your standard commission is it gonna do it yourself
remove the listing portion which is 2.5% typically because that's the
role that you've taken on now. That leaves you with the remaining portion
which is to be distributed to the buyer's agent so on 25k you're looking
to save $12,500 is what you're looking to save, minus all of
your fees associated with your Lockbox you might have a different sign in the
yard potentially if you're going with a special company that specializes in it
great they'll have their own you're looking at your hundreds of dollars
towards photography/videography depending on the extent that you push
forward on that as well as marketing so that could range it can be fifty dollars
and you're successful or it could be a thousand over the
a course of perhaps three months your landing page, your website, maybe your
domain again don't forget the time that you're putting into this so what is time
worth to you? Are you a busy individual with a busy
family and it's difficult to answer your phone 24/7?
and I don't say literally 24/7 but you know somebody might call you at nine
o'clock at night to book a showing be prepared for that and did the savings
that I'm talking about here the $10k-$11k after you minus your fees is it worth it? and
is it worth it considering you may depending on the process here with these
tips you may not get the true full value of what you could have achieved if
you've allowed an expert to do it. If you're gonna do it yourself know what
that looks like know the pros, know the cons decide for
yourself if that 10-11 thousand dollars is worth saving because you're
going to turn your life slightly upside down for that period of time until you
sell your home so this has been a great conversation I hope you have you've
taken some value out of this if you have liked my page follow me on Facebook.
@gauthierhomes. Look me up on instagram @noBSrealestate. Would love to have you
comment and engage with this post engage with this video. You want to see other
information you want to see me put together other videos that
are of interest to you, please comment, message me, call or text.
My information is up on your screen so by all means look me up find me and I would love to
have a conversation with you. Thank you
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