Understanding Market Conditions
The real estate market is always changing. It helps to understand how market conditions can affect your position as a seller.
Your Big Sky Real Estate Professional can provide you with current real estate market conditions and explain their impact.

Pricing your property
The single most important decision you will make with your Big Sky Real Estate Professional is determining the right asking price for your property.

Once you've achieved a realistic sales price, you can count on your property being professionally marketed and promoted to bring more buyers to your door. You can also expect to sell your home for the best possible price in the lease amount of time.

The Benefits of Pricing Right
1. Your property sells faster, because it is exposed to more qualified buyers.
2. Your home doesn't lose its "marketability."
3. The closer to market value, the higher the offers.
4. A well-priced property can generate competing offers.
5. Real Estate Professionals will be enthusiastic about presenting your property to buyers.

Determining the value of your home
The market ultimately determines the true value of your property.
Before you compare your home to similar properties and establish a competitive list price, the following points should be considered:

1. Location
2. Size
3. Style
4. Condition
5. Community Amenities
6. Buyer Supply
7. Financing Options

Getting to Know Your Market
A comparative market analysis is an indicator of what today's buyers are willing to pay for a home. It compares the market activity of homes similar to yours in your neighborhood. Those that have recently sold represent what buyers are willing to pay. The homes currently listed for sale represent the price sellers hope to obtain. And those listings that have expired were generally overpriced or poorly marketed.

Your Royal Big Sky Real Estate will prepare a comparative market analysis for your home based on the most current market information. Together you and your Real Estate Professional will establish the proper list price for your home.

Understanding the factors that influence overpricing
1. Extensive renovations / hidden costs
2. Desire to purchase in a higher-priced area
3. Original cost of home was too high
4. Lack of real market information
5. Building in "bargaining room"
6. Perceived emotional value

The Result of Overpricing
Many sellers believe that if they price their home high initially, they can lower it later.

Often, when a home is priced too high, it experiences little activity. Gradually the price will come down to market value, but by that time it's been for sale too long and some buyers will be wary and reject the property.

On occasion, the price is dropped below the market value because the seller runs out of time. The property sells for less than it's worth.

Missing the Right Buyer
You may think that interested buyers "can always make an offer," but if the home is overpriced, potential buyers looking in a lower price range will never see it.

Those who can afford a home at your asking price will soon recognize that they can get a better value elsewhere.

The Importance of Early Activity
As soon as a home comes on the market, there is a flurry of activity surrounding it. This is a crucial time when Real Estate Professionals and potential buyers sit up and take notice.

If the home is overpriced, it doesn't take long for interested parties to lose interest. By the time the price drops, a majority of buyers are lost.

Agree on a marketing plan
Your property is not something you sell everyday. In fact, for many people it is their largest asset. A house is very complex to market and the process needs to be well organized. To do the job properly a plan is needed.

Your Big Sky Real Estate Professional can prepare a personalized plan for you containing all activities intended to market your property. At Big Sky Real Estate, your property will be aggressively promoted through our own property advertising and Internet site.

Signing a listing agreement
The first formal step in marketing your property is to enter into a Listing Agreement - a contract that commits Big Sky Real Estate to actively market your home for a specified period of time. It also commits you to a pre-established marketing fee that is to be paid upon the successful closing of the sale.

Your Big Sky Real Estate Professional may require the following documents:

Plan of Survey or Location Certificate
A Survey of your property which outlines the lot size and location of buildings as well as details of encroachments from neighbouring properties. This may be required in certain areas to complete the sale of your home. Your legal professional may recommend a survey, especially if significant changes have been made to your property.

Property Tax Receipts
Most Listing Agreements require that the current annual property tax assessments be shown.

Mortgage Verification
Few homeowners know the exact balance of their mortgage as it is paid down. You will be asked to authorize your mortgage lender to provide the figures required.

Deed or Title Search
This document is a legal description of your property and the proof that you own it.

Other Documentation
In some instances, it may help the sale of your property if you can provide prospective buyers with information on such items as annual heating, electrical, and water expenses, as well as any recent home improvement costs.

Note: In many provinces you will be required to sign a property condition disclosure statement.

Preparing to show your home to potential buyers
First impressions are lasting impressions. You will want to make sure the buyers looking at your home are left with the best possible impression. Your Big Sky Real Estate professional can help you achieve that goal.

Exterior
• House in good repair
• House number easy to read
• Eaves troughs, down spouts and soffits in good repair
• Garage/car port clean and tidy
• Litter picked up
• Cracked or broken window panes replaced
• Lawns and hedges cut and trimmed, garden weeded and edged
• Walks shovelled and salted
• Boot tray inside front door
• Doorbell and door hardware in good repair
• Porch and foyer clean and tidy

Interior
• Chipped plaster and paint touched-up and replaced
• Doors and cupboards properly closed
• Leaky taps and toilets repaired
• Burned out light bulbs replaced
• Squeaky doors oiled
• Mirrors, fixtures, and taps cleaned and polished
• Seals around tubs and basins in good repair
• Floors cleaned, garbage containers empty
• Inside of closets and cupboards neat and tidy
• Appliances cleaned
• Countertops neat and polished
• All lights turned on
• Air conditioner turned on in warm weather
• Fresh air in house
• Fireplace lit in cooler weather
• Halls and stairs cleaned
• Drapes opened during daylight
• Carpets freshly vacuumed
• Fresh flowers in various rooms
Jewelry and valuables locked safely away or taken with you
• Valuable property, such as objects of art, vases and figurines out of reach, out of sight, or locked away
• Pets absent, where possible, or contained during the showing, and litter boxes clean

The Major Elements of an Offer
1. Price
Depending on the local market conditions, your opinion of value and market information provided by your Royal LePage Real Estate Professional, the price you offer may be different from the seller's asking price.

2. Deposit
The deposit shows your good faith and will be applied against the purchase of the home when the sale closes. Your Royal LePage Real Estate Professional can advise you on an appropriate amount.

3. Terms
Includes the total price offered and the financing details. You may arrange your own financing or ask to assume the seller's mortgage, especially if it has an attractive interest rate.

4. Conditions
These might include "subject to home inspection", "subject to you obtaining financing", or "subject to you selling your property".

5. Inclusions and Exclusions
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.

6. Closing or Possession Date
Generally, the day the title of the property is legally transferred and the transaction of funds finalized unless otherwise specified (except in Manitoba and Quebec). Note: In British Columbia the Possession Date is legally 1 to 3 days after closing.

Before you Move
Book the movers. You can choose to have the movers pack everything, or just the breakables, or you can pack yourself. It's a good idea to obtain estimates from several different companies.

If you own your present home:
• Arrange to have our gas, water, and electric meters read on the day you leave and have the bills forwarded to your new address.
• Have your oil tank read and filled before your sale closes, and provide a receipt to your legal professional if required.
• If the water heater or furnace is rented, arrange for a transfer of the rental agreement to the purchaser.
• Disconnect your telephone, cable TV, and water softener.

If you rent your present home:
• Give necessary written notice to your landlord and make arrangements for the return of any monies you have on deposit.

At your new home:
• Make arrangements for the gas and electric utilities, water softener, telephone and cable TV to be connected on the day the sale closes.

General:
• Get "Change of Address" cards from the post office and send out well before moving day.
• Have the post office forward your mail to your new address.
• Cancel any contracted services and pre-authorized cheques.
• Inform gardening, dry cleaning, garbage pick-up, newspapers, magazines, diaper and other home services. Arrange for service at your new address.
• Obtain a letter of introduction from your current branch to help establish new accounts. Transfer trust or bank accounts and securities.
• Cancel or transfer social, athletic, civic, religious or business affiliations and memberships.
• Arrange for transfer of medical, dental, prescription and optical records.
• Change the address on your driver's license(s) effective the day of the move.
• Collect all items out for cleaning, repair or storage. e.g. fur coats, dry cleaning.
• Make special arrangements for the moving of perishables, such as plants.
• Make special arrangements for the moving of your pets.
• Dispose safely of all flammable liquids as it is illegal for movers to carry them.