Choosing A REALTOR®

1. DO NOT HAVE 3 REALTORS® IN TO GIVE YOU A PRICE!

Emphasizing price as the main criteria tends to encourage “bidding up” of the list price in order to get the listing, creating unreal expectations.
Do have 3 REALTORS® in to determine who you can work well with and who will do the best job for you!
By definition, the REALTOR® who will do the best job will know your area, be very experienced in your market, and a skilled negotiator. Determining the appropriate list price, expected selling price and appropriate target market will not be the challenge.

2. DO NOT FOCUS ON THE COSTS OF SELLING YOUR HOME.

Selling fees and other costs are important factors, however just not the only considerations in a real estate transaction.
Do focus on maximizing the amount you will “net” after all costs.
The best way to do that is to go back to point number one and pick the best person for the job. That individual will maximize your selling price, help you avoid unnecessary costs and negotiate a deal that is in your best interests.

3. DO NOT RELY SIMPLY ON MLS®.

The Canadian Multiple Listing System, MLS®, is the most effective real estate marketing system in the world and is relied upon by most Realtors as their source of what is happening in the market place.
While a real estate license is valid anywhere in BC, it is just not feasible for a Realtor to have an in depth knowledge of all areas. With 24 years experience in all facets of residential real estate, our expertise is head and shoulders above the competition.

DO RELY ON US TO HAVE A COMPLETE UNDERSTANDING OF YOUR COMMUNITY AND YOUR NEIGHBOURHOOD...

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Cost Of Selling ^ TOP

The cost of selling your home is an important consideration; it’s just not the only one!

The cost of selling your home in this area is generally less than 4% of the total selling price. Fee discounters would have you focus on saving 20, 30, 50% on fees, whereas our value added approach is all about maximizing the selling price and terms in any type of market. In other words by spending the time, effort and resources to negotiate a mere 3- 5% more in selling price, will more than pay for all the selling fees!

Greater exposure to qualified buyers in a hot market creates a better opportunity to bid up the selling price. In slower markets, greater exposure of the features and benefits helps differentiate your property from the many others on the market. Buyers who perceive your property as ideal will pay more for it than those who anticipate renovations or other changes.

The Multiple Listing System (MLS®) is one of the most successful marketing systems in the world. It affords sellers the opportunity to expose their properties to a vast marketplace of buyers through the buyers' agents they are working with. Our marketing approach builds on MLS® to further enhance the exposure of your property.

With extensive exposure, a property is often sold not by the listing agent, but by a cooperating agent. Some marketing schemes offer very little or no commissions to the buyer’s agent, giving the appearance that the total fees will be very low. A buyer’s agent has the following options:

1. Have the buyer pay the buyer’s agent fee – or agree to not view any properties not compensating the buyer’s agent for his work.
2. Negotiate with the seller at the time of offer presentation – this is the time when the focus should be on the buyer’s and seller’s transaction – not on what the agents are being paid.

Since our experience is that most buyers in this area prefer to have the fees include in the purchase price, his recommended strategy is to have the transaction pay the fees so as to not exclude any qualified buyers. Also so that the focus is on getting the best deal for the clients at the time of offer negotiation - not haggling over agents’ fees.

The bottom line is that it’s not about paying more or less to sell your home; it’s about getting more value for the dollars you do spend!

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For Sale By Owner ^ TOP

One of the attractions to going the For Sale by Owner route is the mistaken perception of what is actually involved in successfully marketing residential real estate. Many people think a sign out front, a few Open Houses, a couple of newspaper ads and maybe even an Internet FSBO service, especially in a hot market, is all it takes. And if they can get a FSBO sign on a telephone pole on a busy street - it is Do It Yourself nirvana!

The truth is closer to establishing market value and adjusting to what is happening in the market, exposing the features and benefits to the maximum number of qualified buyers and then negotiating a deal, of which price is only one factor. It's not the number of potential buyers but the quality of each one that is important.

As a Realtors®, we have the tools and expertise to net the seller more than they could on their own. MLS® is only the beginning, but as one of the most successful marketing systems in the world, it helps reach the vast majority of qualified buyers. A buyer who thinks your property is perfect as is will pay the most for it. A buyer going FSBO wants to save the same fees the seller does, plus he is generally a bargain hunter who is also looking for a deal. Seems a little incompatible with a seller who wants to maximize the dollars in his jeans!

For Sale by Owners focus on saving 4% or less of the selling price (most commissions amount to less than 4% of the total selling price) and not focusing on the more important 96% and the other terms of the deal. We can show you real life examples of how FSBO's have saved $10-15000 in fees and undersold their properties by $15-20000!

At the end of the day the FSBO always has the nagging doubt that they could have sold for more, because they just did not "test" the market as a whole and in most cases, they are right!

Learn "How REALTOR® Help"

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Hot Market Strategy ^ TOP

If your home will sell for a good price in 3-4 days, imagine what it would sell for in 30-45 days with superior market exposure!

A hot market (sellers' market) or soft market (buyers' market) should make no difference to the seller - the name of the game is exposure to qualified buyers. In any type of market, presenting the features and benefits of a property in a superior manner to as many qualified buyers as possible simply increases the likelihood of the seller achieving not only top dollar, but also the best overall deal.

Why? Because somewhere in the marketplace there is a buyer who will perceive your property as ideal, no modifications necessary, and will pay you top dollar. Buyers who "like" your property but need to do renovations will discount the expected costs from perceived market value.

So how do you get 30-45 days of exposure when multiple offers are coming in within hours or days of listing? Use what I call the PAM© technique – Pricing Ahead of the Market. In a “hot market” some buyers are willing to pay in excess of what many sellers would perceive as top market value. Again, why? This is because most buyers in our market do not look at the price of the home but at the monthly payments. So it makes sense that your pricing strategy reflects that mindset of today's buyers.

At today’s record low interest rates, an extra $10,000 of mortgage costs only approximately $50.00 per month – less than 2 cappuccinos per week! Buyers will pay an increased price for the certainty of securing a home because the monthly cost is minimal.

CONTACT US TODAY ABOUT YOUR PROPERTY!!!

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Value Added Marketing ^ TOP

Here is a lesson in Residential Real Estate Marketing 101. First of all, throw away all the hype and the perceptions and focus on this one concept:

"You will get the best price and terms on the sale of your property by exposing its' features and benefits to the maximum number of "qualified" buyers in the time frame in which you want to sell. PERIOD

Hot air balloons, gnomes, air miles, logos, etc will help real estate companies build a recognizable brand but they will not put an extra dollar in your pocket at the end of the transaction.

Here's the second lesson:
"The only way to maximize the amount of money you put in your jeans at the end of the transaction is by maximizing the price and the terms on which it sells." PERIOD

With some agents today apparently wanting to under bid each other to see who can work the cheapest, it is conceivable that you could find someone to sell your house for free! If they failed to maximize the selling price, which is likely as they really have nothing to gain by doing so, you could end up with less money.

So, how do we find that perfect buyer? By being where they are today…and that is where you are now - online! Check out our virtual tours and other marketing tools.

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Perceptions ^ TOP

The advertising executive who said "Perception is everything, reality is nothing" touched on a very important aspect of marketing.

Here are some perceptions with respect to residential real estate:

"Deal with me because I'm #1"

Perception: More is better.

Reality: Sales volume bears no relationship to the quality of each individual transaction. Would you think of a high volume fast food restaurant as the place for the best meal in town?

Besides - what does #1 mean - number of sales, dollar volume of sales, volume of commissions earned, Medallion statistics, area statistics, company statistics?

You should choose a REALTOR® on the basis of market knowledge, expertise, negotiating ability plus the ability to recognize and help you achieve your goals. Most people only buy or sell one property at a time - your goal should be to have it done properly.

"Advertising - Open houses - Signs sell real estate"

Perception: The most visible marketing methods are the most effective.

Reality: The Fraser Valley RE Board independent survey of 1000 buyers in 1996 showed that Open Houses, signs and newspaper advertising attracted less than 10% of buyers to the property they bought. With the exponential growth of the Internet that figure is substantially less today. Studies now show that most buyers check out properties and communities on the Internet first. Over 75% of Canadians have Internet access and most are using high speed.

Realtors use hard copy advertising, signs and Opens to "sell" themselves - these are very effective personal marketing vehicles and great opportunities to meet clients who want to buy or sell.

"Paying less commission puts more dollars in your jeans"

Perception: Low price equates to high value.

Reality: While selling fees vary, in this area the total real estate fee to sell your property will likely be less that 4% of selling price. A marketing strategy that focuses on a discounted commission approach ignores the more important aspect of your transaction - maximizing the other 96% - the selling prices and terms of the deal.

The bottom line is that maximum exposure of your property's features and benefits to qualified buyers will find the one who perceives it as perfect for their needs. This is the buyer who will pay you top dollar and net you the most!

In a hot market you can get a good price in 3 to 4 days, imagine what a great price you would get with 30-45 days of maximum market exposure!

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