SELLING A HOME

MY LISTINGS & SALES

#321 3835 Hampton Vancouver West	#1204 819 Hamilton Vancouver West	#201 1900 Dunbar Vancouver West
#3 3130 W4th Avenue Vancouver West	#2415 W6th Avenue Vancouver West	#4-1 550 Beatty Vancouver West
1475 West 47th Avenue Vancouver West	2475 West 20th Avenue Vancouver West	4725 Clarendon Vancouver East
#210 2250 SE Marine Vancouver East	#41 7488 Mulberry Burnaby North	#102 3125 Capilano North Vancouver
#105 6931 Cooney Richmond	#13 6833 Livingstone Richmond	#Lot 59 & 60 Dolphin Drive Nanoose, Vancouver Island

Click to view this recent Featured Home sale.

Call or email me to help sell or buy your next home or property & I shall be pleased to share my varied sales experience with you!

Click on one of the articles below to view the tips and articles

My Personal Pledge to You

Getting Your Home Ready For Sale

Listing Your Home Means More Than Placing An Ad

The Listing Agreement

Before You Sign On The Dotted Line

My Personal Pledge To You

This is my personal pledge to you and you can expect the following:

• Listing your property promptly on Multiple Listing System to get you the maximum exposure
• Showcasing your listing to millions of potential prospects all around the world constantly on four individual websites: www.mls.ca, www.CityVancouverHomes.com, www.hazeltan.com and www.royallepage-vancouver.com
• Superb photography, the latest in virtual reality and captivating descriptions of your property
• Listing fact sheet personally delivered to every realtor in Vancouver Realtors’ “Tour”
• Well designed feature brochure for every potential buyer
• Constant advertising in various media
• Open Houses managed with utmost care
• Verbal feedback on every showing
• Regular market update reports
• Expert negotiating at the time of an offer assures price and terms favourable to you
• Due diligence during the subject removal period up to completion to seal the deal
• Professional and respectful service, guaranteed by Hazel Tan and Royal LePage Westside Ltd.

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Getting Your Home Ready For Sale

It's almost time for the For Sale sign to go up, and time to make sure your home will be looking its best when the first prospective purchasers walk through the door.

A clean, uncluttered house looks bigger and more inviting, so begin by packing away bulky or unused furniture and making the best use of your space. Be ruthless when you go through closets, spare rooms and cupboards.

If you haven't used that bread-making machine for a while, and if you're not likely to need that extra set of china or cutlery in the next few weeks, pack it away. Those knick-knacks on the mantlepiece may have sentimental value to you, but they'll just look like knick-knacks to the people who come through your home. Take a deep breath and move them out of sight. You can make a head start on packing by cleaning off bookshelves, clearing clothes, shoes, extra towels and bedding out of closets, and boxing the kids' toys, out-of-season sports equipment and garden tools.

Take a tour of your home and make a note of all those easy-to-miss spots that need a good cleaning. Wash down the walls, windows and woodwork. Scrub sinks, toilets, bathtubs and kitchen appliances until they sparkle. Clean out the cupboards under the sink, dust the tops of baseboards and wash all window coverings.

The more thorough the clean-up, the easier it will be to keep your home looking its best for visits from your REALTOR and prospective buyers.

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Fix-ups

Now is also the time to fix the cracked light-switch plates, broken door handles, leaky faucets and squeaky doors you've learned to live with for years.

Shabby kitchen cupboards and a dingy hallway will benefit from a fresh coat of paint in a neutral colour -- this is not the time to start experimenting with dramatic paint schemes.

Similarly, heavily-patterned wallpaper or brightly-coloured accent walls may tend to distract buyers from other features, or make it hard for them to imagine how their belongings will look in the room. If you can, repaint or paper the walls in a subtle colour.

It's often worth replacing carpet or floor coverings that are in really rough shape. If the state of your kitchen floor is diminishing the impact of the whole room, perhaps inexpensive peel-and-stick tiles can improve the situation.

Ask yourself if improvements like this will make your home more saleable, and do they justify the cost. Below is a Table of Renovation Average Cost Resale Recovery to help you decide.

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Get expert advice

REALTORS are very familiar with the housing market and consumer preferences and can help you decide which improvements will be appealing to buyers. A major investment -- adding a garage or deck, for example, may not be recovered through a higher selling price. Conversely, something as simple as replacing torn screens or filling cracks in walls and ceilings can add considerably to your home's saleability.

Listing Your Home Means More Than Placing An Ad

Are you thinking of selling your home? If so, you'll need professional help to ensure your home gets maximum exposure and is well-marketed. You'll want to enlist the services of a REALTOR to make sure you achieve your goal.

Engaging the services of a REALTOR to list your property for sale is the beginning of a selling process that includes a well-thought-out and detailed marketing plan, accessibility to a wide-range of potential buyers, and commitment to professional service. It also means you'll receive friendly, helpful advice throughout the sale of your home.

Technically speaking, a listing is an authority granted by you to a real estate broker to act as your agent in offering your property for sale or lease, according to the terms and conditions set out in the listing contract.

When you list your home with a real estate brokerage, you're entering into a binding agreement with that firm. Unless you already have your personal REALTOR, try interviewing three REALTORS and ask them about the services they'll offer when they list your home. It's important that you feel comfortable with the real estate salesperson and the company you ultimately choose.

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Realistic Expectations

It's helpful to know what you can expect from a REALTOR, once you've decided to list your home. Your REALTOR will conduct a thorough investigation of your property to help determine your home's market value. He or she will take accurate measurements and prepare a detailed description of the property.

You'll be asked for documentation on taxes, surveys, title deed, and mortgage information. As well, it's important for your REALTOR to know if there are any limitations on the property which might affect its value, such as rights-of-way or easements.

The REALTOR will also ask you questions to get a better idea of your sales circumstances. In effect, what's motivating you to sell and what are your expectations?

For instance, you may have no pressing need to sell your home and be willing to wait a year until the right offer comes in. On the other hand, if you're being transferred to another job posting, you'll have more time constraints. These are things your REALTOR should know, so that he/she can recommend a marketing approach that best suits your needs.

The real estate professional will also prepare a market evaluation to determine what comparable homes in the area are selling for. You'll also decide how long your listing will run on the Multiple Listing Service® (MLS®) system.

Use of the Multiple Listing Service® system gives your home maximum exposure in today's marketplace because it offers REALTORS the opportunity to use the facilities and services of other REALTORS through a co-operative listing system operated by the Real Estate Board of Greater Vancouver (REBGV). Only members of the REBGV have access to the most updated MLS®.

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Understanding Value and Price

Before listing your home, you should understand that there is a difference between the market value of your property and the price you ask for it. Often, the two are not the same.

For example, a REALTOR may estimate the market value of your home to be $150,000. But if you're under pressure to sell in a hurry, he/she may advise you to list it at a price that reflects both market value and your motivation for selling.

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Teamwork

One of the most important steps in listing property is for the REALTOR to develop a good working relationship with you. At this stage the salesperson, his/her broker and you are forming a team for the purpose of selling your home.

As an owner, you'll be responsible for trying to assist in the marketing of your property where possible, without actually becoming physically involved in showings.

The REALTOR will advise you on how to best prepare your home for showings or open houses and will outline what's involved in offer presentations.

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Scouting For Buyers

Once the listing is complete, the REALTOR will check his/her contact lists and begin to try to pinpoint and pre-qualify potential buyers for your home. At the same time, the listing salesperson is promoting and advertising your home to other salespeople within his/her office as well as to salespeople from other real estate companies through the MLS® system.

If an offer to purchase is procured while the listing is in force, and you accept it, you then owe the real estate brokerage firm a commission for having used its services.

You should realize that there is usually a holdover clause in listing agreements. This means that even after the listing expires, if one of the buyers introduced to the property through the marketing activities of the broker buys it within a specified time limit, a commission is owed to the brokerage.

For more information about the listing process, you are encouraged to contact a REALTOR in your area.

The Listing Agreement

Your home is probably the largest asset you will ever sell and you want to be sure you do it right. Selling your home is a complicated transaction involving many legal forms and procedures. Having a Realtor on your side will ensure the sale of your home goes smoothly.

When you decide to sell your home with a Realtor, one of the most important forms you will encounter is the Listing Agreement. The Listing Agreement is the contract between you and the real estate brokerage authorizing the brokerage, including its brokers and salespeople, to market your property.

The agreement serves many important functions including establishing the basis for the relationship between you and the brokerage and sets well-defined limits on the agent's authority. Detailed information about your home is spelled out in the listing agreement which helps other Realtors respond to questions from potential buyers about your property. Finally, the Listing Agreement forms the basis for any offers drafted on your home as well as any resulting negotiations involving the offer.

There are two types of listings - an "Exclusive" listing and a "Multiple" listing. An exclusive listing gives the brokerage the sole right to find a buyer for your home during a specific time period. You agree to pay a pre-established real estate commission to the broker once the sale is completed. The commission is payable to the broker regardless of whether someone else sells your home -- including yourself during the set period or even if your home sells at a future date to someone the broker introduced to the property.

A multiple listing is also an exclusive listing between you and the broker, but includes your authorization to allow the broker to market your home on the Multiple Listing Service (MLS) and have other Realtors help to find a buyer. In this case, you pay the agreed upon commission and it is shared between the listing broker and the Realtor who found the buyer.

Most often, a Realtor will recommend that you list your home through the MLS so that you receive maximum exposure in the shortest time possible. Many Realtors in British Columbia use a standard listing agreement form such as the one published by the British Columbia Real Estate Association.

Because the Listing Agreement is so vital to the whole real estate transaction, Realtors are well-trained to carefully include every last required detail. The agreement is divided into two sections - authority and property details.

As mentioned earlier, the authority section establishes the legal relationship between you and the real estate broker, sets a time limit for that relationship, and describes the obligations of each party.

The detail section provides information about the property being offered for sale and the ideal terms the seller would like to see in an offer. Your property will be completely identified by its full legal description, including street and house number, as well as to lot and plan number if the property is in a registered plan or subdivision.

Your property size and location, floor area, room sizes, style and number of rooms, zoning, building age and type of construction will all be spelled out on the Listing Agreement.

The listing price is specified along with any other clauses regarding price or terms. There is a specific reference to the commission that will be paid upon a successful sale, trade or exchange of the property. The phrasing of the commission agreement makes it clear that the Realtor has been hired to procure an offer acceptable to the seller. Once this is accomplished, the agent is entitled to claim commission.

Other details to be filled in on the Listing Agreement include mortgage information, how many days until closing after your home sells, and how your property will be shown. Your Realtor will also discuss with you what items you are willing to sell along with the home. These items usually fall under one of two categories - fixtures or chattels. Fixtures are permanent improvements that normally stay with a property as part of the sale. Things like central air conditioning, built-in appliances and wall-to-wall carpeting are fixtures.

Chattels are usually movable pieces of personal property such as microwave ovens, blinds or washers and dryers. You may wish to include some of these "chattels" to sweeten the deal. These items will be clearly spelled out in the Listing Agreement.

The Listing Agreement is such an important part of your real estate transaction that you'll want to be sure it is as comprehensive and accurate as possible. A Realtor will work with you to fill in all the details and leave nothing to chance.

Before You Sign on the Dotted Line

You've found the home that meets all your dreams and desires -- at least the important ones -- and you're ready to make an offer. So, what's next?

It's at this point that you sit down with the REALTOR who showed you the property and complete a Contract of Purchase and Sale.

A Contract of Purchase and Sale is the formal presentation of your bid to the seller or sellers, and contains all the provisions of the sale, from the price to whether or not the bedroom drapes are to be included in the sale of the home.

The REALTOR will probably begin with a Contract of Purchase and Sale that contains certain basic standard provisions, and then tailor it to address your specific situation. Ask to see a blank Contract of Purchase and Sale before you begin viewing properties so you can leisurely familiarize yourself with the points you'll need to consider.

Ask your REALTOR for a copy of the State of Title Certificate (commonly referred to as Searches) so you'll know what is registered on title. There could be restrictive covenants, easements or rights of way that may affect the desirability or usefulness of the property.

You may also wish to view a copy of the Property Condition Disclosure Statement. This document is completed by the seller and describes the condition of the property. Likewise, this statement is available for residential properties listed through MLS®.

When the time comes to complete the Contract of Purchase and Sale, the selling REALTOR will go over each provision with you. Major conditions often covered in a Contract of Purchase and Sale include: an agreed upon sale price, amount of initial deposit and terms for payment of the remainder, amount of down payment, a provision allowing the buyer to withdraw from the contract if specified mortgage terms cannot be arranged, the date of the closing of the sale, and the date when possession of the property is transferred to you. This list is not all-inclusive, but in the very least a Contract of Purchase and Sale should include all aspects of the terms of the sale and the financing.

Don't overlook "inclusions" which covers chattels you feel should stay with the home, such as draperies, window coverings, vacuum systems, etc.

Once you're satisfied with the Contract, your REALTOR will deliver it to the listing salesperson. Then your REALTOR, the listing salesperson and the seller will likely meet to review the Contract. The seller will then have the right to negotiate each point you've outlined. This process -- known as counter-offering -- continues until both parties are in full agreement. All counter-offers should be in writing to safeguard the interests of all parties.

Remember, until an agreement on every point is reached between the buyer and the seller, nothing irreversible has happened.

Upon agreement and signature of the Contract of Purchase and Sale, both parties are legally obligated to the terms of the Contract.

Once the Contract of Purchase and Sale is accepted, it's a done deal and nothing in the agreement can be changed without the consent of both parties.

So before you sign on the dotted line, make sure that you are thoroughly familiar with the contents of your Contract of Purchase and Sale. In so doing, you'll take possession of a home that best reflects your dreams and expectations.

(These articles are provided by the BCREA for the benefit of consumers in the real estate market. Copyright British Columbia Real Estate Association. Reprinted with permission.)

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Royal LePage Westside
5970 East Boulevard
Vancouver, B.C.
V6M 3V4
Tel : (604) 261-9311
Fax: (604) 261-6648
Toll-free: 1-888-661-9311

E-mail:
hazeltan@shaw.ca

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http://www.royallepage.ca
http://www.hazeltan.com
http://www.hazeltan.ca http://www.SouthGranvilleHouses.com

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