The Vocabulary of Selling a Home

Richard Thyssen, Broker of Record 

Colleen Thyssen, Sales Representative
Keller Williams Lifestyles Realty Inc.

Phone:	(519) 438-8000
Fax:	(519) 438-8004
Email:	Richard@thyssengroup.com
Website:	www.thyssengroup.com

As you may know, I rely on repeat clients and referrals to build my business. That’s why I work so hard to provide the best possible service, information and advice. I want my clients to feel comfortable relying on me for their real estate needs, and recommending my services to their friends and colleagues. It is my job to not only help you sell or find a property, but also help you enjoy your home to its fullest. So when you need advice or recommendations from someone who is well connected to the local “home industry”, give me a call. Richard Thyssen, Broker of Record richardthyssen@kw.com (direct) 519-495-1541 The Vocabulary of Selling a Home As in any industry, there are terms and buzzwords that are unique to residential real estate. When you put your home on the market, you should know what those terms mean. Here are definitions for the most common ones: Fair market value: This is an estimate of how much a specific home will sell for in today’s market, taking into account what similar properties in the area have sold for recently. Seller’s Agent: That would be me, the one who is helping you sell your property. I would also assist you in finding and buying your next home. Buyer’s Agent: This is the real estate agent who is representing the buyer of the property you want to sell. Pre-approved Mortgage: This is a statement (often in the form of a certificate) from your bank or other lender that states that you qualify for a mortgage for a particular amount of money. A pre-approved mortgage adds credibility to any offer you make on a new home. Staging: This is a strategy where a home is purposely prepared so that it appeals to potential buyers. Staging may involve cleaning, de-cluttering, rearranging furniture, redecorating, and more. Survey: This is a document that defines the boundaries and measurements of your property and any structures on it. Offer: This is an offer of purchase, in writing, for a particular property. Conditional Offer: This is an offer to purchase, but with conditions – such as “conditional on a satisfactory home inspection” or “conditional on arranging suitable financing”. Engaging the Other Senses When preparing a home for sale, most homeowners focus on pleasing the eyes. In other words, they make their property “look” as attractive as possible. That is, of course, a very important thing to do! However, your home will be even more appealing to buyers if you also engage their other senses. Take smells, for example. Ideally, you don’t want any smells at all in your home during a viewing. So be careful about odours that can linger after cooking. Use the fan. Do not use scented air fresheners or strong perfumes in washrooms prior to viewings. If you or another family member smokes, avoid having the smell come into the home. As for sounds, soft, pleasing music is fine. Just be sure to choose a style that would be acceptable to all. Think elevator music!  In general, anything you can do, even something minor, that will make your home more appealing to all the buyer’s senses is worth the effort. Go Beyond Property Needs and Wants When you shop for a new home, you’ll probably start by thinking about what you need in your next property. Your list might include a spacious kitchen; three bedrooms; and, a mature tree in the backyard. Those are property features and, of course, they’re important. But finding your next dream home involves more than just property features. It also involves getting what you want from the surrounding area. After all, a home isn’t going to be enjoyable if commuting to work from your neighbourhood is long and agonizing. So when you shop for a new home, also think about: Work. How will you get to work? Is public transit nearby? School. Where will your kids go to school? Is transit or bus service available? Will your kids be able to walk to school? Kids. Where will your kids play and hang out? Are there nearby playgrounds and parks? Neighbours. Do the local homeowners seem like the kind of people you’d like as neighbours? Shopping. Where will you do your weekly shopping? Hobbies. How far will you be from golf, theatre, or other hobbies? I can help you answer these questions. When you need advice or recommendations from someone who is well connected to the local "home industry", give me a call. Richard Thyssen, Broker of Record Colleen Thyssen, Sales Representative 519-495-1541 email: richardthyssen@kw.com www.thyssengroup.com