Sellers - Pope Real Estate Team

Facts of Real Estate Life

“Your house cannot sell for a penny more than the best offer obtainable from the best buyer available in the current market.” No house in history has ever sold for a penny more than the best offer that could be obtained from the best buyer that could be found in the then-current market. Prospective buyers make hard-nosed comparisons among the many properties that are competing for their attention. Recent sales of similar properties have historical value, but the buyers involved in those sales are no longer a factor in the competitive picture. The one “best buyer” we are looking for is going to be found in the present market place, not in the past record books. Our job is to find that buyer and obtain his or her very best offer.

“The only way to determine the true value of a house is to thoroughly test the market and aggressively challenge the competition.” Appraisals and other expert opinions can be helpful in establishing a listing price for your home, but its ultimate selling price will be determined by the prospective buyers in the current market. Buyers will compare your home with other offerings in their price range and make judgments. It is critical that your property be competitive in price and appeal with the other options that these prospective buyers will be considering. Expired and withdrawn listings reveal the experience of others who have already tested the market with negative results.

“Testing a bigger market and a better market with greater skill yields a better price.” It stands to reason that the larger the market you can reach and the higher the quality of that market, the better the price you will realize. For example, sellers who are working alone can expose their home only to the small segment of the market that can be reached by a single sign and limited advertising. It is also important to note that, in spite of the multiple signs and substantial sums of money spent on advertising, these two sources typically account for only about 20 percent of the actual buyers attracted to a typical real estate office. The other 80 percent of the market is represented by the efforts of co-operating brokers and the marketing clout of Real Estate Professionals. The buyers (who are already robbed or time today) most ready, willing and able to act are almost invariably availing themselves of the services of Real Estate Professionals. Finally, that “one best” buyer, unless he or she is being handled by a skilled professional, can often come and go without making a commitment.

“An appropriate listing price will, immediately and consistently, attract attention and generate activity.” The process of testing the market need not be a lengthy one, regardless of marketing conditions. When a property is first exposed to the market, both buyers and brokers make instant evaluations of the offering and, if it compares favourably with what they have already seen, it will not only attract their attention, but will motivate them to inquire for details and arrange appointments to inspect. Your listing price must be realistic enough to immediately attract this attention from buyers and brokers. If it does not do so, while competitive properties are attracting attention and generating activity, you have a clear indication that the listing price is not meeting the acid test of the market place and must be adjusted.

“A home that is priced realistically and marketed effectively will usually sell!” There’s an old saying that the three most import words in real estate are “location, location and location.” Like a lot of old sayings, it is simply untrue. No matter how poor the location might be, there is a price at which any property will sell and that price can be determined only by testing the market. Unless the price and terms are competitive, the chances of a house selling are “slim to none.” Even the most “realistic” pricing should be supported by thoroughly testing the market and aggressively challenging the competition.

Process Of Selling Your Home

Meet with you to discuss all details of the listing forms.
Present you with a Marketing Plan detailing what steps we will take to market your home.
Assist you in establishing a listing price for your home.
Offer you tips/advice on how to make your home more saleable.
Explain Real Estate Agency Relationships with you in detail.
Ask you to complete Home Seller Information sheets as part of our marketing strategy.

Process the listing for the Multiple Listing System (MLS).
Have a FOR SALE sign installed on your property.
Launch our detailed Marketing Plan.
Install a lockbox for showings.
Take pictures of your home.
Prepare full colour brochures highlighting the features of your home.
Keep you informed of all showings, feedback and activity regarding your home.
Ensure that we are available to you by phone or office pager for offers, questions or discussions.

Perhaps one of the greatest reasons why home sellers become frustrated that their home has NOT sold is because far too many Real Estate Professionals neglect to sit down with their prospective sellers to explain to them “The Important Facts of Real Estate Life”

Bottom Line #1: When realistic pricing is combined with effective marketing, there is a buyer for everything and, given these conditions, any house should be able to be sold in any market.

Bottom Line #2: Houses that languish unsold on the market for months and even years are violating the law of supply and demand, causing unnecessary inconvenience and financial damage to both their owners and agents.

The market is not always kind, but it is never wrong – and those who believe otherwise pay a heavy price for ignoring the “facts of real estate life.”

Call for your Sellers Guide today and get the Top 10 staging tips from the pros and a complete checklist for preparing your home for sale.

For the complete Seller’s Guide, contact us today and get all the information you need for selling your home.

Including:

Marketing your Home.
Receiving an offer.
Standard Terms and Conditions.
Condominium Specific Conditions.
Accepted Offer.
Final Steps to a Successful Closing.
The role of your Realtor.
The role of your Lawyer.
Preparing to Move – Time line of activities to do.
Remember to Notify Checklist.
Packing Tips.
And MORE!

CALL TODAY 519-471-9200 or EMAIL drew@powerre.net

HERE'S WHAT POPE REAL ESTATE TEAM'S SELLERS ARE SAYING

Their marketing materials, strategy, and approach far exceeded our expectations

We can’t thank the entire Pope Real Estate Team enough for their patience, hard work, and professionalism on the buy and sell-side of our housing journey. Their marketing materials, strategy, and approach far exceeded our expectations, and the level of calmness, confidence, and guidance that Freddy showed throughout the process is something that puts him heads and tails above other agents. Buying and selling a home can be very stressful and we truly felt Freddy’s experience, approach, and personality allow his clients to feel comforted that the best possible outcome will take place. Freddy’s level of care and attention to detail made us feel as if he was finding a house for his family or selling his own family home!

– With Gratitude

Lifelong Pope Real Estate Team Clients

Maximized our profits on sales

We have bought 3 houses and sold 2 with The Pope Realty Team dating back to 2013. I can’t say enough about how down-to-earth, responsive, and efficient Michael has been with us every step of the way. I feel he really maximized our profits on sales and did an incredible job negotiating on our purchases. We have referred him to practically everyone we know. Michael is a true professional and the best realtor in the Business.

B and A

You’ll be glad to have them in your corner!

Heading into 2020, we set the goal of purchasing our first detached home and selling our apartment condo. We knew that even under normal circumstances, the process of finding ‘the right’ home and selling our condo ‘at the right price’ could be both stressful and challenging, but what we couldn’t fully prepare ourselves for was attempting to do both in a red-hot sellers’ housing market while also in the middle of a global pandemic! Thankfully, we were able to heavily lean on Michael Pope. He did an exceptional job of guiding us through both the purchase of our home and the sale of our condo. From his timely responses to every question or concern we had, to his always positive attitude during the whole process, Michael was a pleasure to work with. If you’re in need of a realtor, I would highly recommend Michael Pope…You’ll be glad to have him in your corner!

Jamaal & Serena