Choosing to sell a home can be one of the biggest events in a person’s life, and often involves a
whole range of emotions. Relying on the expert advice and experience of a trained realtor takes
the guesswork and worry out of the process. With Exit Realty on the Rock, you can rest assured
that your home is in the hands of Newfoundland and Labrador’s premier sales team.
MAKING THE DECISION TO SELL
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There are a million different reasons why people sell their homes, but every seller has one thing
in common: the desire to get as much money as possible from their existing residence as quickly
and as hassle-free as possible.
When is the Best Time to Sell Your Home?
Everyone seems to have specific ideas on when the right time is to sell. Some base their theories
on the overall economy, while others will tell you that there are key buying months that you'll
want to capitalize on.
If you're not buying and selling strategically or for investment, the best time to sell is really when
you feel your existing home will not meet your future needs. The best reason to purchase a new
home is to take advantage of your family and lifestyle changes.
In Newfoundland & Labrador, weather and holidays do play a factor. Anyone serious will go
house hunting around Christmas, and few give up their summer vacations. Of course, those with
school-aged children are less likely to move during the school year and summer is an ideal time.
In some areas, there is a definite "spring cycle" -- perhaps it's a bit of spring fever and a wish to
break out of the bonds of winter.
We always say “Someone is always moving”. Winter sees more serious buyers and more serious
Are interest rates higher or lower in comparison to your current mortgage? If they are higher,
you may want to increase your amortization time on your mortgage to help keep your payment
consistent. If rates are lower, you might be able to trade up to a more expensive home without a
significant increase in your monthly mortgage obligation.
Are There Costs Involved in Selling?
Although you may think your home is perfect, you may want to do some minor repairs or
upgrades to make your home more attractive to potential purchasers. It is hard to be truly
objective about one's own.
A professional home inspection may be a condition of the offer. If the inspection points to
problems, your purchaser may ask that you make the necessary repairs or choose not to close
the deal. For a buyer, the home inspection is to identify unknowns or explore items of concern.
If you can basically see the windows have to be replaced, this is not something to go back and
renegotiate on. If you know the electrical panel has to be replaced, don’t be surprised after
inspection and the buyer asks you for to upgrade.
Closing costs, such as lawyers' fees or unpaid taxes, will also have to be paid. Many cities collect
taxes to year end on closing day.
Mortgage discharge fees may be levied by your lending institution.
Sales commissions must be paid, direct from the sale of your existing home. Theses fees are plus
Buy or sell first?
That's tricky. After all, if you find a purchaser for your existing home, before you've found a
new one, you may find yourself living out of a suitcase if convenient closing dates can not be
negotiated. On the other hand, if you find your dream home before you've sold your old one, you
may be faced with carrying two mortgages for a time.
So how do you manage? Easy. Do your homework and have a good idea about the
neighbourhood and type of home you're looking for. Do an honest evaluation of your family's
needs and budget.
Speak to an Exit Realty on the Rock associate and start your new home search as soon as your
existing home hits the market.
If you've found a home, before you've sold your existing one, use "sale of your existing home"
as a condition on your offer. If you don't sell your house within a fixed period of time, you can
choose not to go through with the offer. This, however, is a difficult condition for many vendors
to agree upon and you may find that you may have to forgo your price negotiating power.
Purchasing a home before you sell could be a risky strategy if you're counting on the proceeds
from the sale. If you've found a purchaser before you've found your next home, use "purchase of
a new home" as a condition when you sign back the agreement. Again, it will only be for a fixed
time. Even if you have not found the ideal next house by the time the deal closes, you may still
wish to proceed with the offer. As a buyer with a "sold house" you will be in a better position to
To Hire Movers or Not to Hire Movers?
If you hire movers to pack for you, they'll descend on your home with a crew of experienced
packers who will seal, pad and itemize everything you own in a day or two.
During the move
You will want to make sure you're insured while your belongings are in transition. Many moving
companies also offer additional insurance.
On moving day, go through the house with the crew supervisor and have him take note of any
special instructions. If there are items you will need first in your new home (like a crib) make
sure they put it in the moving van last. The movers will also make note of the condition of your
goods on a master list. It is your responsibility to make sure it's accurate.
Make sure medications are in your possession and plants are not put in a van to freeze in cooler
temperatures. Fridge and freezer contents – keep them to a minimal. After the van is unloaded
and your goods are unpacked, inspect everything and make note of any damage. While movers
do unpack, they don't put dishes or linens away. Pack well in advance, and take note of what
you can really live without. You'll have items that need special attention and other items that
need to be disassembled. Label each box in detail and, if you know where it will go in your new
home, put the destination on the box.
Pack what you need most last! Label each box carefully! Designate a destination!
You'll also want to pack a box of essentials. These are items you're likely to use once you arrive
in your new home. Include items like:
toilet tissue, soap, toothbrushes and toothpaste, paper towels, garbage bags (a lot of them!) paper
plates, cups and plastic utensils, can opener, hammer, screwdrivers, pliers, a flashlight, some
light bulbs, snacks and drinks, a radio, pet leash & food, phone & charger.
When looking for a new home, don’t look beyond your means or your comfort factor. If you
drive by and just don’t like the street or the house – don’t go view. You have already made up
your mind and you are disappointing some other home owner – thinking that you could be their
Choosing the Right EXIT REALTY ON THE ROCK Specialists Agent
Your Exit Realty on the Rock associate is a trained professional who knows all aspects of
the real estate market. The Exit Realty on the Rock associate will save you time, money and
Should You Go With a Non-Exclusive or Exclusive Listing Arrangement?
If you enter into an exclusive of arrangement with Exit Realty on the Rock associate, you are
giving them the exclusive right to find a purchaser for your home. With this type of agreement,
no other company will bring potential buyers to your home, because only the listing company is
entitled to the commission. This will be a good reason for competing agencies to talk negatively
about your property without even viewing it.
Remember, this does not give your home the primary market awareness.
Do You Have All of the Necessary Documents Handy?
Gather the documents you'll need to sell your home.
Mortgage documents: You may wish to find what the “payment” balance on your mortgage is. It
is often not mortgage balance.
Property survey: Be sure to inform your Exit Realty on the Rock associate if there have been
any changes to your property that could affect the accuracy of the survey. Your agent is not a
surveyor, and neither are most of you. Supply the survey you have on hand to your lawyer and be
prepared to pay a small fee for a new survey.
You Should Have in Hand on Listing Day
Your deed or transfer of title document
Tax assessment documents
Leases on boilers, furnaces, security systems, etc
Pertinent condominium documents (if you live in this type of home) an estroppel certificate
Maintenance history (include repair receipts)
Determine Your Asking Price
Before you put your home up for sale, you must set the price. And before you can do that,
you must know what the house is worth. That doesn't mean what you paid for it, or how you
upgraded it. Determining worth is simply finding out what someone would pay for it.
The steps in determining worth are:
Understanding market conditions
Getting the details about recent sales in your neighbourhood Exit Realty on the Rock associate
have access to all of this information. Plus, they can objectively see the big picture and tell you
what makes your home unique.
Once you've determined your home's worth, you and your agent will determine the asking price.
Most often, the price of a home is set slightly higher than its worth, to give a little "bargaining
space." Of course, if it is set too high, it will deter prospective buyers.
If you're in a rush to sell your home, setting the asking price a little lower than what your home
is worth will attract a lot of attention. But beware, if the price sounds too good to be true, buyers
may be skeptical. They may even offer less than the asking price anticipating problems with the
home down the road.
You will have a legal relationship with your agent. When you complete the listing agreement,
you are giving your team agent the authority to put your house on the market for a specified
period. If your house is sold during that time, you will pay the agreed to commission plus HST.
Should You Offer Any Additional Items?
You may choose to include your appliances in the sale, or you may offer a redecorating
allowance. Don’t include too many extras and expect a return for it. By adding all those extras
to an asking price, you increase your asking price out of neighborhood range and don’t attract
MAKING YOUR HOUSE MORE SELLABLE
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While we all believe that our home is our castle, our personal tastes may not appeal to everyone.
Your Exit Realty on the Rock associate will work with you to give you an impartial analysis
of your home - how it relates to other "competing" homes on the market and how your home
reflects current design and style trends. The team agent will also take a good look at the general
condition and upkeep of your dwelling.
Overall, your Exit Realty on the Rock associate will work with you to position your home on the
market so that your sales experience will take place as expeditiously as possible. Remember, we
are on your side to get you the most money in the least time.
Provide a Professional Marketing Program
The Multiple Listing Service (MLS) is the primary tool for most real estate agents. Its very
effective and given that almost 90% of the buyers are internet savvy, you need to be in the right
place at the right time.
Newspaper advertising is another way of getting in front of those thinking of buying a new
home. As technology becomes a greater part of many homes, the service media and other on line
facets seem to gain greater response. Another media tool is the Real Estate Channel, carried by
Rogers and Eastlink in our area. A unique marketing tool for Exit, namely “Exits listings” will
be formatted and uploaded in days of signing on.
The FOR SALE sign! A Must! Home purchasers who are doing their homework often cruise
through neighbourhoods they are interested in. With our phone number on the sign, a passersby
can easily get information about your home and set up a viewing time. Be prepared for short
notice viewing. The buyers could be ready to offer on another property and just stumble on your
listing at the last minute.
Your Exit Realty on the Rock associate will also have a number of potential buyers as clients and
they may be looking for a home just like yours.
What An Exit Realty on the Rock associate Will Do for You
Complete a market analysis to determine a realistic asking price.
Make recommendations on making your home more "sellable."
Provide a professional marketing program.
Advertise your home on the Multiple Listings Service (MLS). Arrange showings.
Negotiate the best terms possible.
Do what they do best …sell houses.
Do Open Houses.
Do agents open houses.
Work with lawyers, coordinate inspectors, appraisers and much more “It’s their only job”
When You're Ready to List, one of the first things you and the Exit Realty on the Rock associate
will do is draft a listing agreement. It provides prospective purchasers with:
A comprehensive, legal overview of your property:
Type of construction
Age of the home
The agreed-upon asking price
Details about the rooms (number and size)
Chattels included in the sale, as well as anything not included
Bragg about your renos
Advertise Your Home on the Multiple Listings Service (MLS). This advertising service is only
available to real estate agents. It is a database of all the homes for sale through agents, registered
under the Newfoundland Labrador Association of Realtors Details about your home will be
available to other agents searching for homes in your area, in the range of your asking price. The
public can view houses on this site. Very easy to remember site …REALTOR.CA
In addition to you giving your home the once over with a mop and dust cloth, have your agent
prepare a home feature sheet. This is a one page synopsis of your home that highlights lot size,
room dimensions, features and upgrades as well as utility costs and taxes. Prospective buyers
will take a sheet and refer to it while viewing your home. Plus, it makes for a great reference
sheet when the buyers are comparing properties.
Check list: 21 suggestions for showing a home • Tidy up the grounds - porches - garage. •
Keep lawn trimmed and edged. • Make sure that your yard is clean and free of refuse. • Your
front door gives a vital first impression! • While a Realtor and prospect wait for you to answer
the bell, be sure it is scrubbed clean. • Dress up your windows in freshly laundered curtains. •
Decorate! • If any work is needed (especially kitchen) do it now! $20.00 worth of paint may
balance $100.00 in a price cut. • Bathrooms help sell homes. Make this room sparkle. • Keep all
steps clear of hazards. • Don't forget to have all light sockets filled with bulbs. Illumination is
like a welcome sign. The potential buyers will feel a glowing warmth when you turn on all your
lights for an evening inspection. • Wash dishes, put away clothes, straighten up newspapers, etc.
• Make up beds with attractive spreads. • Keep pets out of the way when showing. (One type of
prospect is annoyed - the other gets attention diverted.) • Avoid having too many people present
during showings. The potential buyer will feel like an intruder and will hurry through the house.
• Do not allow children to tag along on the visitors tour. • Leave showing up to the salesperson.
It is their business to sell; they can lead up to basic reactions alone better than with running
conversation to help. The salesperson knows the buyer's requirements and can best emphasize
the features of your home. You will be called if needed. • Don't discuss anything concerning the
sale with a customer. Let the Realtor discuss price, terms, possession and other factors with the
customer. He is eminently qualified to bring negotiations to a favourable conclusion. • Never
apologize for appearance. It only accents or distracts. • Never try to sell furniture to a customer
before the deal is complete. • Keep your home warm, fresh smelling and clutter free.
The Open House: The upside is that you should not be there to act as a guide. The downside is
that you might have a series of open houses over a few weeks, with people poking through all
areas of your home.
The Viewing: When an agent has a client who is interested in your home, they will first call to
make an appointment with Exit Realty on the Rock associate. If you're lucky, you'll have time
for the last-minute tidying. Of course, you can say no if the prospective purchaser wishes to
come at an inconvenient time. Try not to be too choosy on your viewing times – remember it
only takes one buyer.
During the viewing, vacant showings are best, if you are at home don’t answer too many
questions. Tell them to contact your agent. Give viewers the freedom to wander around your
home by themselves. Following may make them uncomfortable. The agent will stay with the
prospects to offer some protection against theft or property damage.
Unmade beds, unclean dishes and pet odour need to be taken care of before prospects come
Is Your House in Any Condition to Be Put Under a Microscope?
That's what they say about first impressions. Now, take a look at your house as if you were a
buyer. With a critical eye, examine your home from outside and inside. Determine what can be
solved by a simple cleaning and what needs professional attention and repair. Your list should
also include problems that are immediately evident and underlying problems you know of, like a
Let's start with the exterior of your home. Think of what you would like to see when you're
viewing a home, or better still what you wouldn't like to see -- cluttered yard, weeds crowding
the garden, loose or dangling exterior features (like a broken door), paint peeling, broken fence,
or an oil-stained, damaged driveway, garbage of any kind. Ensure you have no ice and snow on
steps in the winter months, a shovel and a bag of salt will do the trick.
Get out your ladder and inspect the roof. Are the shingles in good shape, are the gutters in good
condition and free of debris? You may wish to trim back any trees or shrubs that are leaning on
your roof or drainage system.
Take a good, objective look at the outside. Would what you're facing invite you to explore
further or make you ready to leave?
Simply having the lawn mowed or the driveway shoveled in the winter will make a better
impression. Trim any overgrown shrubs or hedges. If you have a sizable property, you may also
wish to hire a professional to weed and feed your lawn.
Flowers are a very effective way of adding colour and warmth to your home. If you’re selling
during the spring, plant flowers to flowers to make the property colourful and inviting. A
bouquet or two in your house also adds a nice touch. Don’t overkill on the potpourri or carpet
fresh, the buyers will be suspicious and they may think you are covering something up.
Home Inspection Checklist Make notes on what needs minor clean up and what needs a major
repair. Evaluate your home as if you were a potential buyer, so the key is to be honest with
Negotiate the Best Terms Possible After many discussions, your Exit Realty on the Rock
associate will know the minimum conditions, acceptable closing dates, and lowest price you'll
accept from a potential purchaser. Make certain that your agent also has some leveraging power
with chattels you're willing to agree to in the offer.
By knowing your parameters, your agent can work with the potential purchaser's agent to create
an offer that will be acceptable to you. After all, it comes down to bargaining and persuasion,
and the Exit Realty on the Rock associate is one of the top in this field.
The Offer from the Seller's Viewpoint Interested buyers will submit an offer to your real
estate agent through their agent. Your agent will take you through the offer to ensure that you
understand all aspects of it.
Your offer will contain: The names of the purchaser. The name in which you register the
property and multiple condition industry, dates and finance terms to which both parties need to
mutually agree upon.
An Irrevocable Date The offer includes a date and you have until this date to accept, or sign
back a counter offer.
You'll have to pay Out of offer proceed
Real estate agent
Bank (for the balance of your mortgage and for any prepayment or discharge penalties)
Taxes (if there are any outstanding)
Any other registered loan against title
Your Lawyer Ask for a lawyer recommendation from the Exit Realty on the Rock associate
if you personally don’t know one. Getting a discounted one from the phone book, quite often
means discounted service. There are lawyers who rely as heavily on real estate as real estate
agents do. Here's what your lawyer will do to assist you in making the sale of your home hassle-
Do a complete review of the purchase agreement.
Provide answers to the purchaser's lawyer regarding title.
Prepare transfer of title documents.
Review any mortgage transactions.
Close the transaction.
Pay the appropriate commissions.
Pay any outstanding claims against your property.
Pay off your mortgage (if one exists).
Forward the balance of the money from the sale to you.
Provide a complete statement reporting all transactions
ACCEPTING AN OFFER AND CLOSING
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Accepting the Offer Once you're satisfied that offer has met your criteria, you'll want to accept
it. To ensure you make your deal binding, you'll want a deposit. The deposit will be held by your
EXIT REALTY ON THE ROCK agency in a trust account. When the deal is closed it will be
applied to the commission owed.
Closing You have put your house up for sale and received a contract, which you accepted. All
the inspections have been done and all the contingencies on the contract have been met. What’s
At the closing you will be asked to sign a document including the closing statement and the deed
that you will give the new owners. You should have seen the closing statement in advance of the
closing and have asked any questions you may have at that time. The closing should go smoothly
and all issues should have been resolved prior to closing. After all the papers have been signed,
you will receive a cheque for your share of the proceeds and your agent will hand over the keys
to the new owners.
At that time you have fulfilled all your obligations to the transaction and can move on to your
new residence. This should be a happy time and EXIT REALTY ON THE ROCK, is committed
to seeing that it is. You can rely on us to make the transaction one that goes well.
ASK ABOUT "OUR PRE LISTING PRESENTATION"
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3 Essential Qs to ask a Potential Listing Agent
If you’re about to put your home on the market, getting the right representation can make a huge
difference. Basically put, not all agents are created equal and the agent you choose to list your
home can affect the final offer you receive and how long your home will stay on the market.
Here are three essential questions to ask any agent you are considering to represent your home:
How will you assess the listing value of my house?
Receiving not only a ‘fair’ price for a home, but the best possible price in the current market is
usually the number one concern of sellers. With the Exit Realty on the Rock associate, we will
personally complete a Competitive Market Analysis for your property, by comparing what’s
currently for sale and what has recently sold in your area.
Combined with knowledge of the current sales features and those little extras that make your
home more “sellable”, our team can position your home at the perfect sales point to garner
interest needed for bids.
2. How will you attract buyers to my property?
In selling your home, the Exit Realty on the Rock associate utilizes traditional selling tactics,
new media channels and some old-fashioned hard quick access to your sales associate is
important. Your listing will appear in multiple places, including the MLS Realtor site, the Exit
Realty on the Rock website, and other agents in the industry are familiar with your property and
its features. We also host ‘agent viewings’ to make sure all Exit Realty agents are familiar with
your property and its features. Going the extra mile to get the right sales also means using the
best possible photography to show your home in its best light.
As well, we’ll schedule open houses and viewings at you convenience with as much frequency
as needed to generate interest. Part of that process involves following up on a regular basis with
agents who have shown the property and gathering comments from their prospective purchasers.
This can help find problems areas or reasons why viewers aren’t making an offer.
3. How long will my house be on the market?
No seller wants carry two mortgages, and once a home owner has moved on to their new house,
the need to sell quickly becomes increasingly important.
As difficult as it is to predict how long a home will stay on the market, the Exit Realty on the
Rock associate can boast one of the best average-market times for homes in Newfoundland and
Labrador. Part of this approach comes from an honest assessment of what your home is worth
and the interest you can expect to generate in your neighbour for the features and style on offer.
As well established agents, we will be able to answer all of these questions with the right
answers. If you have any questions about the selling process, or would like to meet with an Exit
Realty on the Rock associate, contact us any time.
When you work with the Exit Realty on the Rock associate to complete an evaluation of your
home, you can be certain of getting advice based on up-to-date market data and local knowledge
of buyers, neighbourhoods and the best tactics for generating interest and offers.
Completing a Competitive Market Analysis for your property, comparing what’s currently for
sale, and what has recently sold in your area is an excellent starting point for establishing fair
market value for your property, but it doesn’t tell the whole story.
One of the Exit Realty on the Rock associates can help evaluate the potential value of the
features that make your home unique, and how they will be perceived by buyers. If needed, you
can also expect ideas about staging and presenting your home to put it in the best light possible.
Ready to start?
Call us today for a copy of our “Pre Listing Presentation”