| Our relationship is based on my reliability and integrity right to the end, and on your trust and satisfaction and our results together. After a completed sale, I’ll ask you for a letter of reference and if you’re amenable for referrals – my business is built on repeat and referral business. What better assurance that serving your needs excellently is my ultimate goal? RE/MAX guarantees your satisfaction with my work. I personally guarantee that you won’t ever be listed with me for longer than you wish.
1. Where do buyers come from?
2. Risks of Overpricing
3. Return on Renovations Chart
4. What determines value?
Also see my newsletters for other statistics, charts, and graphs
 Click here for the Toronto Housing Market Outlook 2006
Where do buyers come from?
40% Firm name recognition or Salesperson contract
20% For Sale Sign
18% Responded to ad, but purchased different property
8% responded to Open House, but purchased different home
7% Referral by relocation service
3% bought Advertised Property
1% Bought Open House they saw
3% Bought for combination of reasons
Risks of Overpricing
The number of showings is greatest when a property first comes on the market. Also, price should be determined on sold rather than unsold comparbles! Factors that determine price: 1) Past selling in your area, 2) Current listing prices in your area, 3) Current market conditions, and 4) Buyer's reactions and attitudes.
Anyone can list it higher ... but remember: other agents are reluctant to show, eventual price reductions mean lower net, overpriced listings expire, and won't appraise. The opinion of the market may not be kind, but it is never wrong.
Return on Renovations Chart
Bathroom 56%
Kitchen 44%
Roof 38%
Paint 29%
Windows 29%
Flooring 22%
Fireplace 11%
Landscaping 7%
Decking 2%
Wall Removal -22% (negative)
Carpet -38% (negative)
Hot Tub -40% (negative)
Pool -58% (negative)
Of all the renovations that you may be considering, some renovations substantially add to the resale value of your home relative to others. Your payback from all renovations varies with the price of your home, but here’s a reliable index of averages.
Not all home owners are created equal. Remember, choices you make regarding improvements or renovations can drastically influence your home’s market value. It is almost always a good investment to maintain your home to the highest possible standards. Pay close attention to the condition of the roof and the windows as these are major considerations for buyers.
What determines value?
Location and Size account for the majority of value. Amenities and Quality contribute less. There are five major factors that will influence your listing price: 1) Timing, 2) Competition, 3) Location, 4) Condition, and 5) Terms. Timing, competition, and location cannot be directly controlled, but price, condition and terms can be carefully evaluated and structured to suit your needs. Appraisers use above factors to determine value.
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