Selling your home

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How will Cherry Pick Homes sell your home for top price?

Selling a home is much more complex than it was even a few years ago. Traditional industry standards can quickly fall behind the ever changing electronic and social media landscape.  Cherry Pick Homes leaves no stone unturned, from organic ‘word of mouth” to tweets around the world. Think of our approach as an eco-system of marketing. We do it ALL.

Key points:

  • Marketing strategy – we create a personalized plan to sell your home including print, electronic and social media with an international reach
  • Price – Value is more than a math equation and is critical to the positioning of your home in the market place
  • Timing – it’s not just the time of year, we look at what day to launch, when to look at offers and when showings should begin
  • Current market conditions – whether it is a buyer’s, seller’s or balanced market
  • Presentation, staging and repairs – we have the expertise and access to professionals to transform your house from “home” to “SHOW home”
  • Honesty – we will tell you what you need to hear, not what you want to hear

 

Cherry Pick Homes Boutique Service – hands on and personalized

  • The efforts of all of our team are focused on selling your home
  • We take the time to understand you, your home and your needs – it’s more than a math equation
  • We provide a free two hour consultation with a staging professional for maximum buyer appeal
  • We cover the costs of a professional photographer including a slideshow/video and your home’s personal website
  • Customized feature sheets/magazines are created specifically for your home in hard copy and electronically
  • Our digital media advertising includes cherrypickhomes.com, MLS, Royal LePage Canada, Kijiji, Twitter, Facebook, YouTube, Instagram and we re-fresh our posts weekly
  • Ottawa Citizen advertising
  • Homes and Land magazine and their on-line links to hotpads.com, condo.com, houselocator.com, OLX, propertyindex.com, trovit, mitula, Locanto + luxury listings linked to the RealEstateJournal.com, The New York Times, NYTimes.com Great Homes, International Herald Tribune, househunting.ca, The Globe & Mail, Craigslist
  • We explore all avenues for exposure including publicity outside of purchased advertising such as blogs and articles in publications
  • We have the ability to project manage renovations that may be required, including access to handymen, plumbers, electricians etc.
  • Links to information on mortgages, schools and local amenities are provided

+ Traditional industry services:

  • Review sales history of your home
  • Prepare a summary of all homes comparable to yours that have sold recently
  • Install a For Sale sign
  • Provide lock box service
  • Link to MLS (Multiple Listing Service) and thousands of buyers on automatic searches with your home’s criteria
  • Hold mutually convenient open houses
  • Hold agent open houses
  • Provide prompt feedback including comments from buyers and their agents who have viewed your home

 

Once your home is listed Cherry Pick Homes will ensure the following:

  • We will always be easily accessible to you
  • We will provide regular updates on the sales in your area
  • We will provide you with Ottawa area market updates
  • We will continue to invest money and time in the marketing and promotion of your property until it is sold
  • We will provide prompt feedback from buyers who have been shown the property

 

When you receive offers Cherry Pick Homes will help you:

  • Evaluate and counter – Ottawa’s real estate market can at times be very competitive and we are expert at handling multiple offer situations
  • During the conditional period we will manage the fulfillment of conditions process to bring about a firm sale
  • Accompany the Appraiser if required by financial lender
  • Coordinate closing details between you and the buyer
  • Maintain an ongoing relationship

 

Once your home is sold Cherry Pick Homes will form part of the team that sees you through closing

  • We can provide you with contact information for real estate lawyers
  • Ensure the Agreement of Purchase & Sale is sent to you and your lawyer
  • All Notice of Fulfillment of Conditions are sent to you and your lawyer
  • Your lawyer will ensure all closing terms are met, financial adjustments made and keys delivered to the new owner
  • Your lawyer is responsible for financial disbursements and will ensure money is received from the buyer and paid to you prior to keys being exchanged

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More about Pricing Your Property: It’s Complicated

If you price your property too low, it may sell quickly, but you’ll lose out on money.  If you price it too high, it may not sell at all. We will help you figure out the best asking price and positioning for your home within the current market conditions. We have strategies to protect you from underselling your property while at the same time generating the interest of buyers and their agents. The result… top dollar for you! Your home will sell faster because it is exposed to more qualified buyers.

Listen to the market
As part of your pricing strategy, we will put together a Comparative Market Analysis, which is a good indicator of what today’s buyers are willing to pay.  It compares the market activity of homes similar to yours in your neighbourhood:

  • Homes that have recently sold represent what buyers are willing to pay
  • Homes currently listed for sale represent the price sellers hope to obtain
  • Listings that have expired are generally overpriced or have been poorly marketed

Don’t overprice your home
Some sellers believe that if they price their home high initially, they can lower it later so they have room to negotiate. Instead of making you more money, this strategy could end up hurting you.

  • Early activity is key. As soon as a home comes on the market, agents and potential buyers sit up and take notice. If it’s overpriced, buyers will quickly lose interest. By the time the price drops, the majority of buyers will have purchased a different home. When a home has been for sale too long, buyers will be wary and may reject the property.
  • You’ll miss the right buyer. You may think that interested buyers can always make an offer, but if your home is overpriced, potential buyers looking in a lower price range will never see it. And those who can afford a home at your asking price will soon recognize that they can get a better value elsewhere.
  • You could run out of time. You may end up having to drop your price below market value if your home doesn’t sell initially. Price it right the first time, and you won’t end up having to sell it for less than it’s worth.

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The Elements of an Offer

Here’s a quick reference to everything you need to know when a buyer makes an offer on your property.

  • Price – Depends on the market and the buyers, but generally, the price offered is different from the asking price.
  • Deposit – Shows the buyer’s good faith and will be applied against the purchase price of the home when the sale closes. In Ottawa, this is generally 1% of the purchase price.
  • Conditions – These might include “subject to home inspection,” and/or “subject to the buyer obtaining financing,”. We’ll be sure to determine the conditions required to best protect your interests. During the conditional phase the buyer will need access to your property for various inspections related to their conditions.  Make sure your home stays “camera ready” until the buyer removes their conditions and your home is sold ‘firm’.
  • Inclusions and exclusions – These may include appliances and certain fixtures or decorative items, such as window coverings or light fixtures.
  • Closing date – The day the title of the property is transferred to the buyer and funds are received by the seller, unless otherwise specified.

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Renovating for resale

Every year, the Appraisal Institute of Canada compiles a list of renovations that yield the best return on investment for home sales. Year after year, refurbished kitchens and bathrooms head the payback list: 75 – 100 % of the investment for these projects can be recovered upon resale! Positive increases like this don’t always hold true, though. If renovating in order to sell, you need to consider the needs/likes of the majority of potential buyers and ensure that the changes you make will appeal to the maximum number of people. Something to consider, and a warning on the Appraisal Institutes’ website, is if “the value of your house exceeds the average market value in your neighbourhood, your renovations will not yield much return. But if your house value is below the average, you can recover a larger part of the renovation costs.” Also recognize that the amount spent on renovation projects should be relative to the value of your home… a $30,000 renovated bathroom doesn’t belong in a $250,000 house.

Having said all that, renovations don’t have to be expensive or extensive to offer you a good rate of return. In fact, a quick coat of paint and some staging can go a long way to boosting your selling price. We will meet with you to discuss which areas of your home could benefit from renovation or staging to increase its value.

Here is a sampling of the rate of investment on some typical home improvement projects:

      • Kitchen upgrade:   75 – 100%
      • Bathroom upgrade:   75 – 100%
      • Interior and exterior painting:   50 – 100%
      • Roof replacement:   50 – 80%
      • Replacement of furnace or heating system:   50 – 80%
      • Expansion (addition of family room):   50 – 75%
      • Doors and windows:   50 – 75%
      • Deck:   50 – 75%
      • Installation of hardwood floor:   50 – 75%
      • Construction of a garage:   50 – 75%
      • Fireplace (wood or gas):   50 – 75%
      • Central air conditioning:   50 – 75%
      • Finished basement:   50 – 75%
      • Wood fence:   25 – 50%
      • Landscaping:   25 – 50%
      • Pool:   10 – 40%
      • Skylights:   0 – 25%

Click here for a guide on remodeling pricing guide.

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