Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional.  Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyer’s recommend selling your own home yourself in today’s market. Here are a few of the reasons why:

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. Real estate professionals 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 Real Estate professional can act as a great mediator. Lawyers MUST act only on their client’s instructions and are not paid to negotiate.


To buy or sell a home in the Toronto Beaches area,
call Team Kassen today at 416-690-5100!

How is the market value of my property determined?
The market sets the price. Team Kassen will help you set a realistic price to match market conditions.
Team Kassen can give you a comparative market analysis based on similar homes in your area. It will show current listings, recent sales, and expired listings (a good thing to check because these houses are usually either overpriced or poorly marketed).
We will help you develop a competitive price based on:
•Location
•Size
•Style
•Condition
•Community amenities
•Financing options
•Market conditions (Is it a buyer's or a seller's market?)
Remember: The market determines price. Avoid the urge to price your home based on considerations that do not affect its market value. For example, the following do not affect the market value for your property:
•How much you need to purchase your next home
•How much you paid
•How much you spent on improvements
•The value of a similar home in a different community
•The cost to build the same home today
•Your personal attachment to your home (Yes, it's your house and you're proud of it, but this makes no difference to potential buyers.)

What should I do to the interior of my property, before I list it for sale?
Every room should look as spacious, bright, and warm as possible.
•Wash walls, ceilings, and trim. Consider painting with light, neutral colours. Repair cracks.
•Tighten loose knobs, towel racks, switch plates, and outlet covers.
•Fix tight doors and windows, squeaky floorboards, and loose stair banisters.
•Clean and repair caulking around tubs and sinks. Fix leaky faucets; remove water stains.
•Clean and organize the basement and attic. (This is a good opportunity to throw out all the bits and pieces you don't want to move.)
•Organize closets. Get rid of the clutter. Limit the number of items stored overhead or on the floor.
•Clean out kitchen cabinets, and remove clutter from countertops.
•Clean drapes, blinds, and curtains. Shampoo carpets, and wax floors.
•Now's a good time to spray for bugs.
•Arrange furniture to make rooms appear as spacious as possible.
•Remove any items you're taking with you, such as chandeliers and mirrors.

What renovations will give me the greatest return when selling my property?
The top three renovations that get you the most money* are:
1.Bathrooms (75 to 100% return)
2.Kitchens (75 to 100% return)
3.Interior and exterior painting (50 to 100% return)
*Appraisal Institute of Canada's 2004 Home Renovation Survey
Other renovations and their average rate of return (the value they add compared to what they cost) include:
•Replacing roof shingles (50 to 80%)
•Replacing the furnace and heating system (50 to 80%)
•Renovating the basement (50 to 75%)
•Adding a recreation room (50 to 75%)
•Installing a fire place (50 to 75%)
•Up-grading floors (50 to 75%)
•Building a garage (50 to 75%)
•Replacing windows and doors (50 to 75%)
•Building a deck (50 to 75%)
•Installing central air conditioning (25 to 75%)

How should I prepare for showings and open houses?
Your house should be ready to show at all times. Make sure it is kept clean and clutter-free. And, those last minute touches before someone comes to look at your home can make all the difference:
•Turn on all the lights, even during the daytime, including outside entrance, closet, basement, and attic lights. Open all the drapes and blinds.
•Turn off the television, stereo, and radio (easy listening music is OK).
•On cold days, light a fire. If not in season, make sure the fireplace is clean.
•Put pets in a fenced yard. Better still, ask friends to look after them. Some people may be allergic, others may be afraid of animals. Clear any pet odours.
•Clean the kitchen and bathrooms. Leave windows and mirrors sparkling.
•Set out fresh flowers, hang decorative hand towels in the bathroom, and place an attractive tablecloth on the dining room table.
•If possible, leave! Some buyers are uncomfortable when the owner is in the house. In their hurry to get away, they may miss important features, or fail to ask important questions. If you must remain, be courteous, but try not to make conversation. The buyer's Realtor knows what the buyer is looking for. He or she can discuss features and answer questions.