First, I want to tell you that yes, the rumours are true, you do not need a realtor to sell your house in Ontario, or even Canada. You can sell it yourself – privately. This is known as private sale or for sale by [...]]]>
You have many options available when selling your home in Toronto, Canada. 

First, I want to tell you that yes, the rumours are true, you do not need a realtor to sell your house in Ontario, or even Canada. You can sell it yourself – privately. This is known as private sale or for sale by owner (FSBO).  There are a number of places available to you for support if you want to do that.  With a private sale, you should be prepared to conduct the open houses yourself, put the ads in the paper yourself, take the photographs, post your house details on the internet, do all the negociating yourself.  Its a very hands-on process. 

If you are going to use the private sale route, I suggest that in real life you be employed either as a sales person or a business person as the skills you use in these positions make selling your home much easier.  When you are a salesman you are able to pick up on unspoken cues that potential buyers will be making.  When they come to your open house you will also be able to better decipher any statements they make to you about the property.  You will also be better able to speak to them and sell them on your house.  Skills aquired as a business person are good too as one of the most important decision making ability you will need to use is the ability to decided where to put your advertising expense.  You have to think about the money you are investing in a particular advertisement, gage who will see it, and if you will see a return on that investment.  If you are not a sales person, (or can’t force yourself to be one for a few months) you wont be able to close the deal and make the sale,  If you are not a business person, you will spend money aimlessly going down alley ways that don’t lead any where.  My reccomendation is that if you are not one of these people, please don’t try to sell your house yourself. It’s not going to work out.

Once you have decided to sell yourself, harden yourself to this decision.  You cannot sell with a half effort, you must give it everything you have, your full attention.  It will likely take longer than you imagine and you will need great amounts of patience.  Patience will also come in handy when negociating as the buyer of your property knows that you are saving the real estate commission when you are selling privately and will want to split that savings with you. They will ask for a cost savings if they are to buy your property. I spoke earlier about some of the activities that you will be required to perform, but there is some good news here for you. You can contract out those activities that you do not do well.  There are companies that can make a yard sign for you,  a website if you are not sure, internet marketing can be done by others, so can the photography or videography.  So if you know you don’t do something well, hire someone else to do it. You can hire a for sale by owner company that have a lot of these tasks integrated into a package for you, but don’t be fooled into thinking that once you sign up with these companies that the work is done, in fact it has just began.  The price they ask for what they give in return is quite high, but If there is any reason to use them it would be to save you energy so you can focus on closing the sale.

The descision to sell your home shouldn’t be made lightly, and neither should the decision to sell privately.  Make the decision once you have weighed the pros and cons and knowledge you can succeed.  You should also seek assistance and regular contact from your lawyer.  This is important if you don’t know the steps that go into the sale of a home.  The trickiest part is knowing what step comes after which.  I don’t want to weigh this down with too many warnings. If you want some advice, remember I can come see your house and give you my assessment of your situation.  At one extreme, we have the people who want to sell their condo at Bay and Wellesley for sure, if you are in this situation, you don’t need a realtor, or much help from anyone.  Just print a little sign ‘ Condo for Sale’ and put it up on the notice board in your building and it will be sold in no time.  Well, just make sure its a reasonable price and that you are not too crazy a person.  For the rest of us some good tips include : knowing what your competition is selling, and how, knowing your limitations, and being open to ask for help when neccessary.   The most important is to think about what you are selling and develop a plan that will get the type of buyers you want and stick to the plan.

Some expenses you will incur are media promotion (print newspaper, flyers for the neighbourhood, etc) $1200 for 3 months. Your lawn sign should be another $100, the feature sheets that you will give to potential buyers and the all important website will be another $150. So for three months you will have spent $1450. So thats why I say, if your going to do it, go all out! It doesnt make sense to spend that kind of money and get no results.  Think like NASA astronauts : Failure is not an option!

Now, my part of the story, I am Marcus Assalone, a Real Estate Salesperson for Coldwell Banker Terrequity here in Toronto.  I run this investment newsletter ‘Real Value’ that this article was first published on at news.marcus-assalone.com . Coldwell Banker Terrequity is a full service real estate brokerage which means that we sell properties and make our commission based on a percentage of the sale price.  Different brokerages offer different services and also charge different commission percentages.  Obviously, the less they do, the less the percentage.

Being full service basically means we do whatever it takes to sell your property. I sell every home like it was my own, but I do give my client a choice in one thing, and that is weither or not to list their property on the MLS.  Everything else is the same, I still advertise in the the same places, I still tell my buying clients about your property, the only difference is that in one case, if I list it exclusively, without it being on the MLS I am able to save you the commission that would have gone to the other Realtor.  So, you can choose to list your home either exclusively at a total commission of 3% or with the MLS listing which will be a total commission of 5%. If your property is in a competitive market, we may have to raise the total commission to 6% in order to give the buying Realtor and added incentive to bring their client to see your property.

If you decide to list your property with me, all these fees are totally contingient on me selling your house! If i don’t sell it, you don’t owe me anything.  All I am concerned about is – success! My success will be your success.

As you are deciding what is the best course of action for you and your home think about ‘what is it that sells a house?’  Is it the location of the house? The amenities that location offers? The condition of the home? of the neighbourhood?  Is it the kitchen that sell homes? is it the bathroom? how useful are these rooms to the house? or is it knowing what price to sell the property for? knowing if it is staged well? does it have curb appeal? is it the high end finishes that sell the house? or is it the advice of someone who knows what buyers are looking for and can counsel you correctly on that sale – who can tell you the right things to do – the right moves to make? In different neighbourhoods the buyers are looking for different things.

As your realtor I will be legally obligated to look out for your best interests.   I will do everything in my power to sell your home for the most money possible.  When we meet and together we develop a plan for the sale of your home, I will tell you my ideas. You will have no doubt that I bring the best value to help you sell your home.

So lets start on the right foot, schedule an appointment and have me come see your house and we will start the planning. Once you have all the information you need you can decide as you please, I will not put any pressure to force you into any contracts. My job is to help you.  My email is marcus-assalone@coldwellbanker.ca my direct line is (416) 495-2362.  If you call, chances are I will be on the phone and you will get my voicemail, leave me a message with how and when to best contact you.

Identifies average home listing price in 30 countries and more than 60 markets

Coldwell Banker Real Estate LLC today released a report on international housing markets, which compares similar four-bedroom, two-bathroom homes in 30 countries and more than 60 markets outside the United States and Canada.

Among the more affluent markets in the report is [...]]]>

Identifies average home listing price in 30 countries and more than 60 markets

Coldwell Banker Real Estate LLC today released a report on international housing markets, which compares similar four-bedroom, two-bathroom homes in 30 countries and more than 60 markets outside the United States and Canada.

Among the more affluent markets in the report is Neuilly-sur-Seine, France, located just four miles from the center of Paris and is the hometown of Nicolas Sarkozy, the current President of the French Republic. The city also serves as the headquarters for the global edition of The New York Timesnewspaper, The International Herald Tribune. A continent away in the opposite hemisphere, the tourist city of Salinas, Ecuador, is one of the many markets offering great affordability. It is also known for its proximity to the Pacific Ocean and year-round temperatures averaging 80 degrees Fahrenheit.

“As one of the world’s premier international real estate companies, Coldwell Banker has the pulse on what is happening in various global markets,” said Budge Huskey, president and chief operating officer, Coldwell Banker Real Estate LLC. “Increasingly we have seen that buyers are expanding their horizons when it comes to the number of countries under consideration for their investment.”

  
In addition to Salinas and Neuilly-sur-Seine, the Coldwell Banker report highlights some of the world’s most prominent cities, full of fun trivia and charming local facts:

• Paris, France, has been ranked as one of the top three European cities of the future by The Financial Times and produces more than one fourth of France’s total gross domestic product.
• Madrid, Spain, is the third largest city in the European Union and is considered the major financial center of Southern Europe.
• Rome is the capital and most populated city of Italy and has been ranked as one of the world’s 15 most important cities.
• Amsterdam is the financial and cultural capital of the Netherlands and home to seven Fortune 500 companies including ING Group and Royal Philips Electronics.
• Dublin houses more than one-quarter of the entire population of Ireland and is ranked 29th in the Global Financial Centres Index.
• Aruba is renowned for its white, sandy beaches, temperate waters and warm climate moderated by the trade winds of the Atlantic Ocean.
• Istanbul is the cultural, economic, and financial center of Turkey and at one time served as the capital of the Roman and Ottoman Empires.
• Mexico City, Mexico, is the country’s most important political, cultural, educational and financial center and boasts one of the world’s fastest growing economies with a gross domestic product expected to double by 2020.

The release of this international data follows the recent Coldwell Banker Home Listing Report, a comprehensive analysis of real estate markets throughout the U.S. and Canada.

Below are the full findings of the international report:

Newport Beach, Calif., Tops Most Expensive Housing Market List; Detroit is Most Affordable Market

PARSIPPANY, N.J. (Sept. 22, 2010) – Coldwell Banker Real Estate LLC today released its Home Listing Report, a snapshot survey of U.S. four-bedroom, [...]]]>

Newport Beach, Calif., Tops Most Expensive Housing Market List; Detroit is Most Affordable Market

PARSIPPANY, N.J. (Sept. 22, 2010) – Coldwell Banker Real Estate LLC today released its Home Listing Report, a snapshot survey of U.S. four-bedroom, two-bathroom home listings, which found a $1.7 million difference between America’s most expensive and most affordable housing markets. Newport Beach, Calif., led the list of most expensive real estate markets in America, with an average home listing price of approximately $1.83 million for property listings meeting the subject home criteria. By contrast, America’s most affordable housing market was Detroit, Mich., with an average home listing price of approximately $68,000.

The Coldwell Banker Home Listing Report (HLR) is the brand’s latest development designed to provide comprehensive information on real estate data from around the country for homebuyers and sellers. The HLR provides the average home listing price of more than 18,000 four-bedroom, two-bathroom properties on coldwellbanker.com that were listed between February and August 2010 from nearly 300 select U.S. markets where Coldwell Banker Real Estate has a presence. The U.S. average for the surveyed listings was approximately $353,000. Markets included in this report were required to have at least six properties fitting the above criteria within the relevant timeframe.¹

Known for its sandy beaches and historic Balboa Pavilion (established in 1906), Newport Beach, the most expensive market, has been

Newport Beach, California. Photo courtesy of Travis

 the backdrop to numerous television shows including “The O.C.” and “Arrested Development.” Detroit, the most affordable market, is the only major U.S. city that looks South to Canada. Residents of the Motor City take great pride in Red Wings hockey and appreciate the city’s hard-working industrial and automotive history.

“Coldwell Banker Real Estate has released national real estate market reports annually for many years to provide consumers with insight into local market conditions,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “Our study shows that homeownership in the United States is generally affordable, with nearly 30 percent of the studied markets averaging $200,000 or less for a four-bedroom, two-bathroom home – a size many buyers aspire to own. Today those who have the financial resources and a desire to move up to a larger home have a unique opportunity to take advantage of historically low mortgage interest rates coupled with comparatively lower prices and greater selection.”

2010 Coldwell Banker U.S. Home Listing Report – Highlights

• America’s Most Affordable Markets: In addition to Detroit, America’s most affordable real estate markets are as varied in culture and trivia as they are in listing price ranges:
  • Grayling, Mich., is home to many top cross-country skiing destinations.
  • Sioux City, Iowa, has been recognized as a top U.S. economic community for areas between 50,000 and 200,000 people.
  • Cleveland, Ohio, is home to the Rock and Roll Hall of Fame.
  • Muncie, Ind., has gained notoriety for its successful prep sports programs.
  • Norfolk, Neb., is home to many healthcare and manufacturing companies.
  • Kansas City, Mo., is just behind Rome, Italy, for the largest number of fountains in a city (more than 200).
  • Canton, Ohio, is home to the Professional Football Hall of Fame.
  • Port Huron, Mich., features the School of Strings, which presents over 50 concerts a year with its Fiddle Club, Faculty and Student Ensembles.
  • Topeka, Kan., was once temporarily renamed “Topikachu,” in honor of the Pokémon franchise.
• Homeownership Affordability: In total, there are 85 U.S. markets in the HLR with average reported listing prices less than $200,000. There are 183 markets (out of a total of 296 surveyed) that are less than $300,000.
• Great Midwest: Michigan has three markets on the most affordable housing list (Detroit, Grayling and Port Huron), and all 10 of the most affordable markets are in the Midwest.
• Low Monthly Payments: Put in perspective, a $200,000 30-year-fixed mortgage at a 4.5% rate could cost a buyer a relatively low monthly mortgage payment of just above $1,000. The average $68,000 four-bedroom, two-bathroom home in Detroit could average less than $350 a month.
• Pacific Paradise: Out of the 10 most expensive real estate markets, six are from California: Newport Beach, Palo Alto, San Francisco, La Jolla, Pasadena and Santa Barbara.
• Above $750,000: The survey included 25 housing markets where the average listing price for the subject home was more than $750,000, including 10 markets whose average listing price exceeded $1 million.

TABLE 1 – TOP 10 LISTS
The top 10 most expensive and most affordable real estate housing markets in the 2010 Coldwell Banker U.S. Home Listing Report are:

*Only one market was included in the study.

TABLE 3 – CANADIAN HOME LISTING REPORT
The same methodology was used to capture six months of listings in Canada for four-bedroom, two-bathroom homes between March – September 2010. The Canadian version of the Coldwell Banker HLR offers perspectives on several major Canadian cities.

Below is a highlighted report on four-bedroom, two-bathroom home prices (in U.S. dollars2) within select markets in Canada:

About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of nearly 93,000 sales associates and brokers working in approximately 3,300 offices in 49 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to augment its web site www.coldwellbanker.com for smart phones, the first to create a iPhone application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.

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