1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.

2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long…there must be something wrong with the home.

3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor… and the offer automatically will follow.  Remember that the buying process begins after they leave your home. If a real estate agent does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. If the buyer is represented by a real estate professional Realtors© are trained on how to overcome buyers remorse--a very common occurrence.

4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home… selling means exposure. You need the maximum exposure possible, to generate the highest price possible.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.

6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.

7. The majority of qualified buyers are working with experienced real estate professionals.

8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.

9. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional.

10. Expected savings in broker's fees will also be greatly reduced if you offer a selling commission to entice real estate agents to bring potential buyers.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer’s fees will be considerably higher.

12. Only real estate agents have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to agents. Further, real estate agents are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.

13. You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with.

14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer’s to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Realtor© can act as a great mediator. Lawyers MUST act only on their client’s instructions and are not paid to negotiate.  

SELLING YOUR HOME? IT MAY BE TIME FOR A MAKEOVER!  

You only have one chance to make a good first impression, and the same goes for your home! Making sure your home makes a GREAT first impression on a potential buyer will speed up the sale and ensure that you get the best price possible. Invest the necessary time, effort and money in a “makeover” for your home before you put it on the market. Preparing your home for sale does not have to entail major remodelling. The aim of a home makeover is to bring out the appealing features of your home and to make minor repairs and cosmetic improvements that draw the buyer’s attention to the value of your home. Not only will you increase the value and marketability of your home; a makeover gives you the chance to make a pre-emptive strike on repairs that the buyer or the buyer’s home inspector could request. Leading the way looks a whole lot better than just following along. Take a look at your home through a buyer’s eyes.
Grab a friend and take a tour of your home. Have a long, hard, critical look inside and out, as if you were seeing it for the first time (that’s where an objective friend comes in handy). Make a list of all the things that need fixing. Keep track of everything from the
cobwebs in the corners of the garage to the doorframe that the dog scratched up trying to get out to chase the raccoon in the back yard.
If necessary, have an electrician and a plumber come in and do a checkup and suggest improvements. Some of the items on your list will be simple and cosmetic, some more substantial.

Some guidelines

Every home is different but here are some repairs and improvements you may want to consider:

Outside

1. Does the driveway and/or walkway need resurfacing?
2. Could the front door, garage door or others use a coat of paint, or replacement? Are screen doors in good shape?
3. Green up the lawn (a small investment in sod is a quick solution to bald spots), get rid of weeds, spruce up flowerbeds and prune overgrown bushes. Depending on the season you can brighten up the yard by planting beds of colorful flowers, annuals are cheapest.
4. Power wash the siding and deck.
5. Paint, paint and more paint. Did I mention paint? Repaint doorframes, trim, or the whole house if necessary. This is the cheapest makeover trick that gives you the biggest return on your investment.
6. Check all the window frames and consider upgrading to double or triple-pane or storm windows if applicable.
7. Let there be light - install porch and entrance lights or just make sure the bulbs in existing fixtures are working. Consider installing motion detector lights for dark areas of the yard. (This suggests that you are security conscious, that’s a good thing)
8. Make sure gutters and drain spouts are clear of debris.
9. Repair or replace the roof if required – get it inspected professionally before making such an important decision. You may also want to discuss it with your realtor as it may be difficult to recoup the costs of this major repair.
10. Seal cracks in outside walls and foundation and keep the area near the foundation clear of heavy ground cover plants, stones and landscape timbers. Keep mulch at least 12 inches from the foundation as defence against insects and moisture.

Inside

1. Wash walls, ceilings and windows. Decide whether a new coat of paint in a neutral color will improve the appearance of any or all rooms. Make sure the painting is done by professionals or, if you do it yourself, that you follow the manufacturer’s instructions to the letter, paying particular attention to proper cleaning and priming of surfaces to be painted.
2. If necessary, consider replacing dated floor coverings with modern carpeting or vinyl or ceramic tile and re-finishing wood floors so they look like new. You may want to discuss this with your realtor first.
3. Lighting is important. Would ceiling fans, new light fixtures and recessed or track lighting improve the appearance of your rooms? Don’t forget to replace shabby or outdated switch and outlet plates and register vents.
4. Clean the curtains and invest in relatively inexpensive blinds if yours have seen their best days.
5. Spruce up the kitchen. Invest in modern cupboard and drawer handles and decide whether to paint or replace cupboard doors. Clean every nook and cranny, including the inside of the stove and the microwave!
6. Update bathroom lighting and replace toilet seats and bathroom hardware if necessary.
7. Clean furnace filters and make sure weather-stripping is in place to provide maximum energy efficiency. A conscientious buyer will notice these details.
8. Tidy up! Remove clutter from all rooms. Put extra furniture, knickknacks and other extraneous material into storage. Be ruthless, even if a home is clean clutter suggests dirty nooks and crannies.
9. New furniture? If the living room or family room furniture that you are planning to buy for your new home would improve the appearance of your current home, buy it now.
10. Don’t forget the garage. Get rid of trash. Have a garage sale to get rid of the stuff you don’t plan to take with you. Do a thorough cleaning and organize what’s left.
Clean the floor, repair cracks and remove stains and re-finish the floor with a stain resistant concrete finish.

What about major improvements?

Most major home improvements do not necessarily raise the property value dollar for dollar. Concentrate on the basics – wiring, plumbing, a high efficiency furnace and repairs to the foundation. These are what the buyers and a home inspector will be looking for.
Consider adding practical square footage to the living area of your home. If you don’t plan on making major improvements to your home before you sell then studies show that the best investments (i.e.: you can recoup the costs from the sale of the home) are projects
like finishing the basement, remodelling the kitchen or the bathroom and adding a family room or deck. These projects were the types that most substantially increased the value of homes.
It’s the little things that count.
Sometime it’s the simple things that make the most difference. You should strongly consider making those improvements that include lightening and brightening, both inside the home and out. New lighting fixtures and new paint with lighter colors all improve the
appearance of a home for a moderate outlay.
Don’t forget “curb appeal” and that first impression. You want the buyer to like what they see and to want to own the home along with the lifestyle and status it represents. A well-manicured lawn, attractive landscaping and a clean and bright exterior all contribute
to curb appeal. Those qualities of your home that can’t be seen are equally important. Don’t underestimate the value of updating your home’s energy efficiency with new windows, added insulation, fresh weather-stripping, modern air conditioning and heating systems.
Ask your realtor for their opinion, they know what buyers are looking for and can be the source of valuable advice.

Last minute touches

The job isn’t over when you’ve done all the major work and have listed your home.
Attention to detail will pay off when you are expecting potential buyers for an open house or individual appointments.
Make sure you’ve vacuumed and removed pet and cigarette odours. Everything should be clean and sparkling. Don’t forget that your buyers will be looking in closets and corners so have everything organized and neat. Send the kids and pets to visit grandma for the
day if you’re having an open house.
A bouquet of fresh flowers on the dining room table is a welcoming touch. And don’t be afraid to fire up the bread machine, it’s cliché but the smell of fresh baked bread still
works.

The Perils of Overpricing

1. Many potential buyers won't even look, thinking the home is out of their range.
2. Buyers educate themselves with market comparables. If your home does not compare, they will make an offer on a more accurately priced home.
3. Properties left on the market for an extended time become shop-worn. Buyers, aware of lengthy market exposure, attribute this to overpricing or believe there is something wrong with the property.
4. Realtors tend not to show overpriced listings as this undermines their credibility as knowledgeable real estate professionals.
5. Overpricing lengthens marketing time, and invariably results in a lower selling price than would have been otherwise obtained.
6. Since an appraisal is often required in financing a property, it is futile to price a property for more than the market value.

In Conclusion

Consider the work you do in preparing your home for sale as an investment and an opportunity to prepare for your own move. Get rid of everything that is just taking up space. Have a garage sale, give the extras to friends or to a local charity and get the kids
to do the same.
Get professional advice from both your realtor and a home inspector to determine what repairs and upgrades are in order and get the work done professionally. If you do it yourself make sure you do it like a professional! The effort you put into preparation will pay off. Not only will you get the best price for your property, but you will have taken
major steps in your move to a new home as well.
Additional Information:
The Internet is a valuable source of information on makeovers and remodelling:
1. Home & Garden Television – www.HGTV.com2. Homestore.com – Home & garden improvement advice - www.remodel.com
3. Home Builder Online – the information source for the home building industry
www.builderonline.com
4. HomeTime.com – lots of “how to” information for your remodelling project plans
www.homemprovement.com.