Lanz Real Estate

There is a lot involved in selling your home. We put together this guide for you so you can get a better feel of what to expect when you decide to sell your home. 

Click or tap each tab to learn more.


ARE YOU READY TO SELL


That is the most important question. There are many reasons to sell your current home or condo. You may be looking for a larger home for a growing family or you maybe downsizing because the kids have moved out and you don’t need so much space anymore. Those are the two most common reasons for selling,  but of coarse there are many other reasons for selling.

MEETING WITH US


If you are not sure yet what agent you would like to work with, it would be our pleasure to meet with you. This will give you an oppertuntiy to see if you feel comfortable working with us. We will review your home and go over all the details and options so that you will be well informed of the entire process. Depending on your individual situation and preference, there are several different ways to get your home sold. 

THE LISTING AGREEMENT


We will need to put a Listing Agreement in place. This agreement formally lets us and our Brokerage represent you in the selling of your property.  We will go through this agreement and explain and answer all your questions before you sign anything so you fully understand this contract. There are generally two ways to list your home. You can do a traditional MLS listing or you can do an Exclusive listing.  Learn more about these two options in the following tabs.

LISTING ON THE MLS


This is the most common way to sell your home. Most homeowners will choose this option. Your home will be put on the MLS system (Realtor.ca) for a minimum time of 60 days and It will be available for view to the largest amount of potential buyers who are actively looking for homes everyday. All your homes vital information and professionally taken pictures will get uploaded to the MLS system. 

Not only will buyers in Toronto and the rest of the GTA be able to see your home, but also potential buyers in the rest of Ontario, out of the Province and out of the country as well.  It is not always necessary or desired by many sellers to list on the MLS.  

Listing Exclusively is still a popular option chosen by many sellers.  (See the next tab for more info.)

LISTING EXCLUSIVELY


This way of listing is preferred by many people who would rather sell their home in a more private way. You may not want many people going through your home and choose to not have any open houses. There are also other personal reasons homeowners choose to sell Exclusively.

By listing your home Exclusively your home will not be added to the MLS system, however your home will still get a lot of exposure to a more targeted audience. You can still choose to have a sign on your lawn. Your home would still be advertised through various platforms and exclusive systems available for us to use. ( The key information about your home is needed. Pictures are also recommended, but not mandatory).  In a strong sellers market, it is still possible to sell your property Exclusively and get offered market value or higher.

Another popular benefit of listing Exclusively is that you can have a shorter listing contract and you could also save some money on commission fees. 

Both ways of listing will get your property sold.  It will just depend on your preference and individual situation that may make you choose one over the other.

 

COMPARATIVE MARKET ANALYSIS


Determining a listing price for your home is a strategic process. An in-depth CMA (Comparative market analysis) will show you what similar properties on your street and the immediate neighbourhood have recently sold for and what other properties like yours are currently for sale. We also look at any current properties  that were on the market, but did not end up selling. 

It is always important to do a current CMA because the Toronto Real Estate market is ever changing and it is in your best interest to have the latest sales activity so we can help you make an informed decision.

There is much more involved then just knowing what your neighbour sold for.  Have a look at our "Your Home Is Not Average " page by clicking here.

PRICING YOUR HOME TO SELL


After preparing and analyzing the CMA, we will have established more accurately what your homes current market value should be. Deciding what the listing price will be is a whole other matter.  We all want to get as much as we can for our home and every homeowner has the right to ask for whatever they want. However there must be some common sense involved as well. 

There are several ways to go, but the decision is always yours to make.

1. The most realistic way is to list your house at its actual current market value or very close to it. Most buyers and their agents have already done their homework on what similar homes have just recently sold for in your neighbourhood and they have a good feel of what they should be paying for your home. 

2. Many homeowners feel if they list their home a lot higher then the current market value, that they may get lucky and someone will pay what they are asking or possibly get a higher amount then your current market value. By using this strategy, you take the risk of pricing yourself out of the market and fewer buyers will consider looking at your home.  You will most likely have to eventually reduce the asking price. 

3.  The Toronto Real Estate Market has been very hot for several years and there has been a shortage of listings and there has been a trend to under-list the asking price (List below your homes actual market value). This strategy is an attempt to draw in even more interest and to try and get a bidding war for your home and hopefully you end up getting a higher offer then what your home is  actually worth on the current market. 

This tactic has worked for many sellers, but mostly when it is a very strong sellers market. We must also be confident that your specific house and location within your neighbourhood will attract a bidding war in order to drive the offers higher then your current market value. 

So what is the best way to go?


Personally, we think in a balanced market the first option is the most practical. However, we always have a look and see what is currently happening in the market and what pricing strategies other sellers and their agents are using in your neighbourhood. We always  take in to consideration the most recent results of what other homes like yours ended up selling for. We will review and discuss a game plan with you. 

Always remember, the longer your home sits on the market unsold, its perceived value starts to drop. So it is very important to make the right decision from the beginning.

Before its time to put you home on the market, we will review and discuss the best strategy for your home while taking the current market conditions in to consideration. 

PREPARING YOUR HOME TO SELL


It is important to make your home look as appealing as possible if you want to achieve great results. There are usually a handful of things to take care of before we list your home to sell. Some are more urgent then others but it is important to determine what needs updating or fixing and what doesn’t.

One of the easiest and least costly ways to make your home more desirable and achieve a higher selling price, is simply to clean and declutter of a lot of things you don't need or want anymore. You can always try having a contents sale if you have some extra time. If you don't want to bother with that, you can always give some things away to family, friends or charity.

If you have leftover items that nobody wanted, one of the best solutions is to hire a disposal company like 1-800-got junk or similar type of company.  They will come right to your home with one of their trucks and take it all away.  


Staging your home is another option that some sellers consider.  See more about staging in our “getting organized page” here

MARKETING YOUR HOME


Once your home is ready to go on the market, we will take professional pictures and market your home on several  platforms in order to sell your home quickly and for the greatest amount possible. Whichever way you decide to sell your home (On MLS or Exclusive), you can be assured that we will get it out there in front of plenty of potential buyers. 

Depending on your type of home and how you may prefer us to List and market it, we will use a combination of the following:

  • Professional pictures, floor-plans and written copy of your home to be used throughout all On-line Marketing and printed material that will show your home beautifully in front of all interested buyers.

  • Listed on MLS (Realtor.ca...unless you decide to do an Exclusive Listing, then we have an Exclusive system available)

  • Targeted communication to our network of hundreds of Agents who have clients looking for homes in your neighbourhood.

  • Lanz Real Estate and Forest Hill Real Estate websites

  • Your home's own website. e.g..www.youraddress.com ( Not always necessary)

  • Social media e.g...Facebook, instagram. (Not always preferred by the seller)

  • Post cards and letters to the immediate neighbourhood

  • Open house ( If you so choose to do so. Recommended)

  • For Sale sign on your property.

SHOWING YOUR HOME


This is an important part of selling your home. We always do our best to work around your schedule. You can decide what times work best for you to let potential buyers view your home in person. Open house showings are still very common, but not always necessary or preferred. 

You are always in control of how you would like this process to go. We will figure it out together around your schedule when are the best times for you to let us  show your home to any potential buyers.

GETTING OFFERS


Now comes the exciting part.

There are several ways to entertain offers. The most common is when an offer is submitted to us, we let you know that we have this offer and arrange a time to meet and review the offer together with you. Some sellers prefer to view the offer first via email. However, for the last several years because of the continued strong market, It has become very popular to hold “Offer Dates”and there may be more then one offer to review in the same day. Regardless of how many and when offers come in, we will discuss with you how you prefer to view them.  

We can get together at your home, our office or On-line and go over the offer(s) with you. Note** You can always reserve the right to review any offers before any offer date. This is called a pre-emptive offer or better known as a Bully offer.  In this very fast moving market, many homeowners want to have that option. ( This is if you decide to have an offer date)

Of coarse with any offer the first thing we usually look at is the Price offered. That will be the first determination if it is a good offer to begin with.  

We then would look at the proposed closing date and if there are any conditions to contend with (possible Inspection or financing)  In some offers there are other conditions to contend with. However there are also offers that have No conditions (better known as a clean offer). We will always go through any and all  offers with you and you can decide  to accept, sign back or reject any offer.

We will work together to help make sure that you make a good final decision.

CLOSING YOUR HOME


Once an offer is accepted and all the conditions are waived (If any) all the documents will get their final signatures by you and the buyer.

You will get a copy of all the documents pertaining to the transaction and we will also send to your lawyer the accepted offer and all the documents necessary for them to prepare the paperwork for the final legal closing of your new property. 

Your Lawyer will provide you with a detailed outline of his fees. They will make sure everything goes smooth with the closing of your home including transferring title, paying off the existing mortgage (if any) and reconciling all credits and debits relating to the sale of your home.

If you do not currently have a lawyer that your planning to use, we can recommend several very good and experienced lawyers for you to contact.

PREPARING TO MOVE


Now comes the part that not everyone gets very excited about. 

While your Lawyer will help take care of the legal paperwork, you have to start thinking about planning the move. We don’t think there is an exact science to this. The move situation is different for everyone for various reasons, but in the end, you have to do it.  

The list of things to do can seem overwhelming, but it’s not so bad as long as you plan properly.  We can provide you with a checklist to remind you of all the important things to consider. You don’t have to follow it completely, but it will help get you going.