|
|
 |
Free Email Registration
Be the first to know |
 |
|
|
|
 |
|
| |
|
|
 |
Research |
 |
|
| |
| Alberta Condos Research |
|
The following research will arm sellers of condos with the right information to help increase the speed and likelihood of a sale. If you’re looking for research on the Alberta Condo market please visit our Invest link for free Reports and articles.
|
|
|
|
| Three Keys to Selling an Alberta Condo |
|
| Three Keys to Selling a Condo First, your condo must be properly prepared for sale. Second, you have to ask the right price for your market, and third, your condo must be professionally exposed to as many potential buyers as possible. It is important to note that part of Alberta Condos' service includes the professional exposure and instructions on where to obtain legal documents (i.e. offer to purchase) so you're ready to accept an offer with confidence. |
|
| Pricing Your Condo |
|
There is nothing more important than setting your condo's listing price so that it's in line with the rest of the properties in your market. By doing the right research and having a complete market analysis, you can set a price that will catch the attention of potential buyers. AlbertaCondos.com provides instructions on how to perform a market analysis as part of our service and because we save you up to $10,000 or more you can sell at a competitive price and keep your hard earned equity instead of giving it away to real estate agents.
If you're trying to get a general idea of what your condo is worth, start with a simple check in your neighbourhood and/or in your condo complex for similar properties for sale. Also look at similar properties listed on the real estate listing website mls.ca.. When the time comes to set the price, AlbertaCondos.com provides a detailed analysis as part of our service. It is then up to you what price to charge, taking into account how quickly you want to sell and what you are including with your condo (two parking stalls, washer dryer etc).
Another option is to hire a professional appraisal company. Expect to pay $200-$300 for this service.
t is important to note that real estate agents use the same market comparisons (now that mls.ca exists, consumers have access to same market information) and they provide MLS historical sales as well. We don't think this is worth $10,000 or more when it's available free on the Internet.
When you're ready to accept or make an offer on a property, AlbertaCondos.com provides instructions on where to obtain the necessary agreements as part of our service and we always recommend putting the following condition in the contract: "subject to a review and approval by a lawyer by no later than (insert date) " for both the seller and buyer. This allows lawyers to ensure the offer is fair, contains all the items necessary, and is accurate. |
|
| Preparing Your Condo for a Sale |
|
Your goal is to get your condo as close to showroom condition as possible increasing the likelihood that buyers will make an offer. Here are some suggestions:
Remove the clutter. If you can, ask a family member or friend if you can store a few boxes at their home until you move. Then, clean up and pack away the clutter. Make sure your closets are only half full. You want it to look as spacious as possible. This includes cleaning out the closets and making sure they are only half full
Give it smell appeal. Make sure your condo smells great using light fragrances such as baked cookies or real flowers, but nothing too strong. The smell of a condo is often cited as one of the top reasons a purchase was not made (people know they can clean messes but they are afraid they won't be able to get rid of a bad smell).
Clean it completely. Enhance your condo and make it more appealing or attractive to buyers. This means cleaning from top to bottom. We recommend hiring a professional.
De-personalize it. Eliminate your personal decorating tastes as much as possible. You want the buyer to focus on the condo not what's in it. When removing clutter, also consider removing paintings, family portraits/photos, etc.
Give it curb appeal. If you own a town house don't forget to fix up the exterior like the lawn, flower beds, shrubs and driveway. Curb appeal (how your condo looks from the outside) is often cited as the most important reason for buying. |
|
| 9 Things You Can Do with an Extra $10,000 or More |
|
1. Invest it wisely. Turn your money into more money. We suggest real estate (particularly condos in Alberta).
2. Donate it. Give it to your favourite charity or charities and make the world a better place. And don't forget, charitable donations are tax deductable.
3. Take a vacation. Be sure to book it online to save money.
4. Increase your down payment. This will save you on interest in the long run.
5. Renovate. Make your new condo more comfortable and increase its value. Give it hardwood floors, a nice paint job... the sky's the limit!
6. Buy a new kitchen. Get new Energy Star appliances which pollute less and look great.
7. Get a new entertainment centre. How about a new big screen television with a high end sound system?
8. Upgrade your vehicle. Trade in your car and get the vehicle you really want.
9. Go RV-ing. Put a down payment on a motor home and get two homes for the price of one. |
|
| Top 6 Reasons To Sell Privately |
|
1. It's not hard. Thousands of people sell their condos privately. You can too, faster and for the right price.
2. Save up to $10,000 or more. Take a vacation or splurge on something you always wanted! Enough said.
3. Your peace of mind and convenience. Don't lose control of when you can show your condo. Real estate agents will call and ask you to leave your home for a showing at times that aren't convenient. And because you're not dealing directly with the client you can't suggest times that are convenient for both of you.
4. Greater chance of making the sale. You know your condo best. Real estate agents are often not fully familiar with your condo, the items that are included (or could be included) or your neighbourhood. If you're showing your condo you can outline the many benefits and features your condo and the area offers. No one knows your condo and neighbourhood better than you! It's important to note that even if the real estate agent you sign with knows the area he or she will most likely not be the one presenting it to buyers.
5. Times have changed for the better. Most people don't need an real estate agent. The only exception we thought of is someone who isn't able to show their condo because they're out of town. Before the Internet, the real estate agents controlled all the information regarding what homes were for sale. The Internet has changed this forever as you can now obtain the information without an agent. If you're looking to sell you can go on-line and see what condos are for sale and the prices they are asking. If you're looking to buy you can do the same without having to contact a real estate agent (or pay their fees).
6. They won't get you more money for your condo. Your local real estate market determines what your condo will sell for and how quickly. Similar condos sell for similar prices, regardless of whether an agent is involved or not. Therefore the cost of the real estate agent's commission is an unnecessary expense to the seller and buyer as their commissions could have been saved and shared equally. With the right marketing approach, a properly priced condo will get attention from potential buyers whether or not a real estate agent is involved. |
|
| What real estate agents say and the facts you need to know |
|
Listings are worth an average of $10,000-15,000 split between the listing agent and selling agent (and their brokers). Because of this massive financial opportunity some agents will employ scare tactics in an attempt to secure your property. We strongly believe that people should arm themselves with the following knowledge as there exists the potential for a conflict of interest given that agents recommend the sale price of a property, which also determines the speed at which it might sell and in turn the speed they receive their commissions.
1. "I already have buyers already lined up for your house." If you're prepared to pay a 2-2.5% commission then let the agent know you're open to paying only the buyer's agent commission (usually there would be a seller's commission also) and on a one-time showing only. Be very clear that you're not signing anything that requires you to pay more, gives them any kind of exclusive rights, or gives them the right to be the listing agent. Make sure you read their agreement and we suggest writing on the agreement the conditions listed above.
2. "If your condo doesn't sell in so many days, I'll buy it from you." Ask for a copy of the agreement which in most cases indicates they will purchase it at tens of thousands of dollars under market value. Your condo is then typically sold to investors they know will then buy and sell it making thousands.
3. "You can't sell it on your own." Legally you can sell your own condo and with AlbertaCondos.com we make it a simple process for both the buyer and the seller.
4. "I'll provide you with legal services." Regardless of how you sell your condo (privately or with a real estate agent), you need a real estate lawyer. But with an agent, you'd have to pay for legal services on top of the agent's commissions. AlbertaCondos.com would be happy to provide the name of a real estate lawyer as part of our service in the same way an agent would.
5. "You must not be very interested in selling your home." A report called "Home Seller Consumer Insights; 2002-2003" by Realty ViewPoint shows the reverse is true. The report concludes that people that sell their home on their own typically see 6% more in gross profits on the sale of a home. This number increases to 29% when commissions are included in the calculations. Also, people that sell their home on their own typically sell in 8.1 weeks, while real estate agents take an average of 11.5 weeks. This is statistical evidence that people selling their home privately are more interested in selling as they're making the effort to save both time and money. Besides, doesn't it just make sense that you know your condo and neighbourhood best and can therefore more easily explain why someone should purchase it.
6. "I can get you more money for your home." (See above for report.) Recognize that the market determines the price not the real estate agent. Buyers will compare your condo against what is currently available before making an offer whether you have a real estate agent or you're selling privately. Even if there was any truth to the statement, you would still have to pay more for their service, which would eliminate any gains.
7. "You won't have to pay anything that the buyer pays.""Take advantage of our free real estate services". Another variation of this is they say it doesn't cost you anything as it comes out of the sale of the property or they don't get paid until it sells so there is no cost to you. The reality is that you, as the seller of the property, pay an average of 5-6% commission to your agent, your buyer's agent, and their brokers upon its sale. This amount comes out of your profits and is also subject to tax. In other words, if you hadn't hired the agent you would have made up to $10,000 or more on the sale of your property!
8. "Home showings are a hassle requiring a lot of time and effort." With AlbertaCondos.com's on-line open house and our professional feature sheets you'll find that the majority of questions have already been answered, eliminating most calls from people who are "just looking". As the condo owner you are the best person to show the condo because you know it better than anyone else. You have a better idea of the monthly costs, where the nearest gym is, condo fees etc.
The process is quite simple. When a potential buyer calls, ask them if they have seen your on-line open house then set up a time with them that they can stop by and visit. We recommend that when doing a showing, you provide a feature sheet and bit of a description to the person and then invite them to view the condo on their own so they can discuss it privately amongst themselves. This typically takes 20 minutes. Once they have viewed the condo ask them if they have any questions. How hard is that? We believe it is more of a hassle to have to leave the home every time a showing is done by a real estate agent.
By booking your own showings, you can pick times that fit within your schedule and most importantly if you're showing your condo you can outline the many benefits and features your condo and the area offers. As part of our service AlbertaCondos.com provides further instructions on showing your condo.
9. "Only a Real Estate Agent can put your condo on the MLS." This is true, however, the MLS is no longer the only place buyers look for properties. The reality is that the Internet now offers a way to buy and sell properties without real estate agents, which makes it hard to justify their commission costs, averaging $10,000-$15,000. This is especially true when you consider that AlbertaCondos.com offers so much more, including the following services: |
|
- Photos of every room
- Professional descriptions
- Google map of location
- Downloadable and printable feature sheet
- Marketing program including high rankings in search engines, and instructions on how to place classified ads with your property ID.
|
| 10. "Only a Real Estate Agent knows how to negotiate a deal." Thousands of people just like you have negotiated the sale of their own property without a real estate agent. Negotiating can be done in person, in writing, or on the phone and is nothing more than the exchange of offers on three items 1) what is included in the price, 2) conditions of the sale, and 3) the possession date. If a buyer starts asking questions regarding these items you know they are interested. Once you have negotiated these items, a written offer is made* and typically a deposit is taken. Then the lawyers for both the seller and buyer are provided copies. *AlbertaCondos.com provides the necessary agreements as part of our service and we always recommend putting the following in as a condition to the contract: "subject to a review and approval by a lawyer by no later than (insert date) " for both the seller and buyer. This allows for lawyers to ensure the offer is fair, contains all the items necessary and is accurate. |
|
| Order Now |
|
|
|
Green Apple Marketing
