The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

I The Canadian Champion, Tuesday, December B 1998-RE1 How Do You set the Price on My Home? Fîrst off, let me dispose of what appears to be a comrnon myth cover the mortgage, Realtoil$ commnission, legal fees, etc. you have 3. The moat important tme in the listing peniod s the firat two amnongst homceowners; we the Realors®, do flot set the pnice on your to ask yourself "What about my borne wîil make someone want to weeks, when your home s new and fresh in the marketplace. For thss hocIn he Rcsidcri ýIitlg Agrun-n t i v r i mny py $1 I CY> r the ther homes for ii? Put yourseîf in th shoes of reason, t s important not t pnice your home too hugh, on the beluef Ontanio MLS systems, the vendor acknowlcdgcs that "the pre set potentual buyers, and ask yourselt the s ae question. Pcrhaps there that -wi. an justIo\b r he nc att i a r ie.îorRe i('Pi o1 k k kue(t hihth kcei i- ,d ..v ersoal est are cuhvuuus reasons whv vour home would selI for $10,000 more is to asssyou 10 pnice your home ambtiously, but realustucally. after full discussion with the representative regarding potential mar- ket value of rny property". than the others. You Realtor® can be of great assistance 10 you in this area. 4. Ail Realtors in an MLS System have access 10 the same informa- tion. If you have interviewed îwo or more Realtors, and one of them promises you that they can gel you a significant amount arnount extra for your borne, be wary. Ask them 10 explain why it is that they think they can do that. Another, less tangible component in the price you finally decide 10 list your home at is the expertise of the Realtor you are working with. Whilc the MLS information available to Realtors is the same, the marketing techniques employed by Realtors arc vcry different. Chnis Newell Sales Rep, CRF-S RMM CEI Mains Street Realty/Better Homes and Gardens Mhhat AbovETINGsrspnibWtisOteprisnthho- seCTOng process. 'entl, hre aroe 4 ctiegoriesothaitesodthenevertosileoe sinlude n nsCA 'Me Cooparableaopr i etin thataecr entlistnailable of hom Csopre poperltieth oast hve dermngthcoet 1. Comparable properties that h a il ured t ly i xped itns 4. Comparable properties that are sod conditionally While these 4 categories should be included, there will be times when there is not any available data in one or more categonies. The relevance of the categories is deait with below. AVAILABLE PROPERTIES This category shows you the homes that your home will he in coin- petition with in the rnarketplace. Depending on your motivation in selling your home, you rnay choose to liat your home either at the sane price as these comparable homes, or a little below them. a pro- fessional Realtor®D will know the details on each of the homes included in this category, and will be able to explain in detail why those particular homes were chosen for inclusion in the CMA. SOLD PROPERTIES This category gives you an overall idea of how much people actively îooking for a home like yours have been willing to pay in the current marketplace. This is a historical picture, over 3 to 6 months, so it will not reflect any recent changes in the market. Again, a pro- fessional Realtor® will be able to explain to you the reasons for the variations in the sale prices of the homes in this category. If there are suitable comparables available, this category will prove to be the most influential in your determining the listing price of your home. EXPIRED LISTINGS Ibis category wiIl tell you what people were not prepared to pay for homes similar 10 yours. Depending on the current market condi- tions, il is quite common for there 10 be no information available for this category, as homes sel quickly. CONDITIONAL SALES This category wiil give you a good indication of the listing prices that have attracted serious buyers for sirilar homes in the current rnarketplace. Your Realtor® will not be able to tell you the actual sale price of these homes, as that information is confidential until the sale is flrm. However, combined with information such as the aver- age sale-price 10 list-price ratio, your Realtor® can give you a good ides of the sale prices of these properties. THINGS TO CONSIDER WHIEN SETTlNG THE LISTING PRICE 0F YOUR HOME: I. What is your motivation for rnoving? Has your employer trans- ferred you? Are you under sorne sort of time-pressure 10 gel moved? Your Realtor® can provide you with accurate statistics showing the average days on the mnarket before abhorne selîs. 2. Can you afford to seil your home? If comparable homes are selI- ing for $150000, but you need to seil yours for $160,000 in order wo Cýjj j uFij j i PU s 878444 Check out our web site ai http:iinew-ail.coml for ail the latest listings and sales information. Haton's only comploe source for onlîne Information. m la Bet ter -jýt)l 1 Ic is p ýl 1!III , tt ý' p ' rlýf' t [iý,j fl m