Selling a Cottage or Home in Muskoka & Southern Georgian Bay

I will design a marketing plan to ensure your property gets maximum exposure.
When selling any cottage or home from a Muskoka Cottage to a Georgian Bay home takes preparation, organization and professional marketing. As the principal and creative director of Mediapeach a full service advertising agency, strategy and creative delivery is my forte.  In this section I will walk you through all the things you need to know to be fully prepared to sell your property, from understanding the market to how I will handle your cottage or home listing.

Selecting a Listing Agent
During the cottage or home selling process, a good real estate agent is worth her weight in gold. By choosing an agent who is an expert on all things real estate in your neighbourhood: I know your community, the cottage or home upgrades necessary to attract buyers, and all the intricacies of the transaction. From marketing your cottage or home to negotiating a price and closing the deal.  Consider me your personal Real Estate Adviser.  

I am your guide through the real estate wilderness.
Think of me like a wilderness guide. Just as the wilderness guide keeps you on the right path and away from danger on a backwoods adventure, I will help you navigate through the complicated areas of the cottage or home selling process, and steer you clear of costly pitfalls.

I am also a REALTOR®. The term REALTOR ® is a trademark that identifies a licensed agent as a member of The Canadian Real Estate Association (CREA). I have made a pledge to adhere to a strict code of ethics and standards of business practice.

I will save you time and money. I know your community, know what is important when selling a cottage or cottage or house, and know all the intricacies of the process, from marketing your cottage or home to negotiating a price and closing the deal.

How as Your  Listing Agent will I Help   

As your Royal LePage real estate agent I can do the following (where applicable):
1.    Order a complete property profile of your cottage or house
2.    Perform a professional "Competitive Housing Market Analysis"
3.    Review "Total Market Overview" with sellers
4.    Create a customized market plan that targets your most likely buyers
5.    Develop a specialized pricing strategy for your property
6.    Calculate an estimate of your net proceeds from the sale
7.    Tour your property from the buyer's standpoint
8.    Conduct a complete staging analysis of your cottage or house
9.    Provide instructions to help your cottage or house sell at a higher price
10.    Review the interior of the cottage or house to maximize attractiveness
11.    Integrate photos into marketing materials
12.    Develop "soon to be available" postcards
13.    Review the status of any property tax liens against the property
14.    Obtain copies of permits relative to the property
15.    Accurately measure the cottage or house
16.    Develop advertising copy for marketing
17.    Place cottage or house description in the Multiple Listing System (MLS listings)
18.    Provide a "Real Estate Relationships Disclosure"
19.    Provide a copy of the "Real Estate Consumers Guide"
20.    Assist with the completion of an exclusive listing agreement
21.    Assist in completion of the "Agency Agreement Addendum"
22.    Review flood disclosures, if required
23.    Review lead paint disclosure requirements
24.    Review "Competitive Housing Market Analysis"
25.    Explain commission splits between listing and selling brokers
26.    Provide marketing guarantee to seller
27.    Review benefits and drawbacks of using real estate lock box
28.    Arrange for pest control inspection of the cottage or house
29.    Arrange for contractor's inspection of the cottage or house
30.    Arrange for roof report of the cottage or house, as necessary
31.    Arrange for septic tank inspection
32.    Arrange for county inspection
33.    Prepare seller's disclosure statement
34.    Place professional For Sale sign on property, as authorized
35.    Directly contact other real estate agents with qualified buyers about the property
36.    Respond to real estate agent questions about the property
37.    Respond to buyer questions about the property
38.    Develop a convenient open cottage or house schedule with you or your tenants
39.    Hold public open cottage or house viewings as warranted
40.    Conduct telephone cold calls to target market, as necessary
41.    Order professional photos of the property to be taken for online listings
42.    Conduct door-knocking campaign in neighbourhood, as appropriate
43.    Prepare just-listed postcards for potential buyers
44.    Follow up with potential buyers from open cottage or house
45.    Arrange for a tour of the property for all real estate agents in the area
46.    Obtain other real estate agents' opinions of cottage or home pricing strategy
47.    Provide weekly status report to seller by phone or in person
48.    Review local news sources for changes in neighbourhood
49.    Send thank-you notes to real estate agents who show the property
50.    Review the financial impact of any purchase offers with seller
51.    Negotiate and write counter offers, as necessary
52.    Make sure escrow is open in a timely manner
53.    Make sure initial deposit is placed into escrow in a timely manner
54.    Make sure deposit increases are placed into escrow on time
55.    Make sure buyer applies for a loan within contracted period
56.    Provide access to property for inspectors, as necessary
57.    Make sure seller places all necessary documents
58.    Assist seller in transferring utilities to cottage or home buyer
59.    Assist seller in moving to a new residence
60.    Provide keys to cottage or home buyer
61.    Review closing statement with sellers
62.    Deliver proceeds cheque to sellers

AND
I will develop a plan to market your cottage or home.
I am motivated and dedicated to the highest level of service in the Canadian real estate industry.
When you're dealing with the big money involved in selling a cottage or house, you need to have complete confidence in the person handling the important details. After all, real estate isn't your area of expertise, so you want to benefit from the experience and help of a professional. I am the real estate agent who will best understand your needs, inspire your confidence, and has a proven record of closing sales at a fair price, in a timely fashion.

FAQ

Q:  Can I can help list your cottage or house and represent you when you buy the next one?
A:  In most cases, the answer is yes. Ask me to explain the concept of agency and how it works. Be sure to ask what limitations, if any, your representation will have.
Q:  What happens when as your listing agent I am not available?
A:  I work extremely long hours and try to be available whenever and wherever you need me, and will make arrangements when I can't meet with you. You will be taken care of.
Q:  What would I tell a buyer considering your cottage or home?
A:  I will quickly spot your cottage or home's best features and tell you the best way to showcase them. Be sure you're comfortable with the way your cottage or house will be presented.

What do I think is the key to selling a cottage or cottage or house: advertising, internet exposure, or promotion to other agents and REALTORS ®.
Since the success of your marketing plan will rely on its ability to attract prospective buyers, I'll ensure you understand and agree with the approach. I will market and promote your property, such as listing on the local MLS (Multiple Listing Service), newspapers, real estate websites, etc. and also advice on how to prepare and stage your cottage or home to sell.

What advice would you give a buyer considering my cottage or house?
Do you want top dollar for your cottage or home, or do you want as many offers as quickly as possible? I believe you should know and agree with the way your cottage or home will be framed for buyers and their selling agents.

What distinguishes my personal service from other real estate agents?
It's time to make a choice. Think about what other agents have told you, and ask yourself the following:
1.    Did they seem trustworthy and honest?
2.    Were they realistic when discussing your cottage or home sale?
3.    Did they communicate well? Did you feel you were on the same wavelength?
4.    Were they committed, motivated and experienced?

Determining Property Value
Buyers will come on down when the price is right?! Set your asking price too high, and your cottage or house will be passed over; set it too low, and you could lose thousands on the sale. Determining the right cottage or home price is much more a science than an art, and emotional factors shouldn't stand in the way of sound financial judgment.

It's a common scenario. You love your old cottage or house. After all, your cottage or home was the one constant: it set the stage for many family events and cherished memories. Every scratch in the floor, and every nick in the wall, tells a story. And although the cottage or house no longer suits your needs, there is a part of you that is reluctant to part with it.
For many, this kind of emotional attachment and other factors unrelated to the cottage or home's true market value end up influencing sound judgment when setting the asking price for a cottage or home. To let any emotion (be it nostalgia or financial desire) drive up your asking price is an amateur mistake that can end up costing you big in the end.
Those nicks and scratches that send you on a trip down memory lane.  Unfortunately, they tell a very different story to prospective buyers. That's just damage in the buyer's eye, and it sure doesn't offer anything in the way of value to them.
Remember, the buyer doesn't know about you and the memories you associate with the cottage or house. For the most part, they aren't interested in them. They just want to find a cottage or home to call their own and start creating their own family memories.
Determining the right cottage or home price is much more a science than an art. Think of it this way: the price for your cottage or house has already been established by the real estate market. There is a relatively narrow price range that buyers will consider for a particular cottage or home, with particular features, in a particular neighbourhood. The trick is in determining what that secret number is. Set the price too high, and your cottage or house is passed over. Set it too low, and you stand to lose thousands on the sale.
Factors that influence overpricing:
    Attempting to recover money invested in renovations and improvements
    Desire to use profits to purchase a higher-priced cottage or home elsewhere
    Original cost of the cottage or house was too high
    Lack of housing market information
    Building bargaining room into the price
    Adding on for perceived emotional value
    
The consequences of overpricing
Many sellers believe that if they price their cottage or home high initially, they can lower it later. Unfortunately, when a cottage or home is priced too high, it is virtually ignored by buyers and real estate agents alike. This is especially important when a cottage or home first goes on the market. New listings typically generate a flurry of activity as selling agents and potential buyers take notice. Overprice, and you stand to lose out on any potential business stoked by early market excitement.
And things don't improve for the overpriced cottage or house as the weeks and months wear on. Gradually, the seller is forced to move the price down to market value, but by that time the cottage or home has been for sale too long, and buyers become wary and reject the property. Many will wonder why the cottage or house has been on the market so long, and will suspect there is something wrong with your cottage or house that is affecting its ability to sell.
You may also be tempted to think interested buyers will simply make a lower offer. But if your cottage or home is overpriced, buyers looking in a lower price range may never even see your cottage or home's listing. Those who can afford a cottage or home at your asking price will quickly recognize that they can get better value elsewhere.
The benefits of pricing right:
    Your property sells faster, because it is exposed to more qualified buyers.
    Your cottage or home doesn't become stale and lose its marketability.
    The closer your asking price to market value, the higher the offers you'll receive.
    A well-priced property can generate competing offers.
    Real estate agents will be enthusiastic about presenting your property to buyers.

How is the market value of my property determined?
Enter me. As your agent I am an expert in the local real estate market, and will give you the facts you need to know to make an educated decision on asking price.
I will prepare a Comparative Market Analysis (CMA) for your cottage or home based on the most current housing market information. The CMA will show you current listings, recent sales and expired listings (useful to check, because expired listings often indicate a cottage or house that was either overpriced or poorly marketed).
Together, you and I will establish a competitive list price for your cottage or home based on the following:
    Location
    Size
    Style
    Condition
    Community amenities
    Financing options
    Housing market conditions (Is it a buyer's or a seller's market?)
Once you've achieved a realistic sale price (along with a wise marketing strategy prepared by me), you can expect to sell your cottage or home for the best possible price in the least amount of time.

Market Analysis
When it comes to setting an asking price, a Comparative Market Analysis (CMA) is crucial in determining the fair market value of your cottage or home. I will provide the CMA will tell you everything you need to know about your local housing market, how much similar cottages  or cottages or homes are fetching in your neighbourhood, and whether you're dealing with a seller's market.
Market Analysis
It's time to decide on an asking price. You know that setting the right price for current housing market conditions is crucial, and you've been told that overpricing can spell death for a new listing. But how do you determine the fair market value of your cottage or home if you don't know the intricacies of your local housing market?
Wouldn't it be great if you had some insider knowledge? Some sort of real estate cheat sheet that gives the inside scoop on the local real estate market.
It would have to contain valuable information that you could never determine on your own, like how much your neighbors? cottage or houses are selling for and the current mood of the local housing market. And just what is that all-important asking price that will ensure maximum return on your investment without pricing you out of contention?
There's good news! Such a document does exist, and you can have it thanks to your local Royal LePage real estate agent. When you sign on to work with a Royal LePage sales representative, you'll receive a custom-prepared Comparative Market Analysis (CMA) that indicates what today's buyers are willing to pay for a cottage or house like yours in your area.
I do the property assessment by comparing the market activity and prices of cottages  or cottages or homes in your neighbourhood that are similar to yours. Prices for cottages or homes that have recently sold represent what buyers are prepared to pay. The price of cottages or homes currently listed for sale represents the price sellers hope to obtain. And those listings that have expired were generally overpriced or poorly marketed.
The CMA gives you a sales edge that your competitors may not have. The for-sale-by-owner (FSBO) crowd can't access information like this. Real estate industry insiders have proprietary access to much of the data used in the analysis, and it's me, your agent's years of experience and intimate knowledge of the local housing market that makes me best qualified to interpret the data and make sound recommendations.
Sure, you may see what people are asking for their cottages or homes by studying MLS listings, but that doesn't help you determine the actual selling price. The selling price almost always differs from the asking price, sometimes drastically depending on the state of the real estate market.
And because your agent earns their livelihood from the buying and selling of cottages  or cottages or homes in your neighbourhood, you can be assured they have an ear to the ground where market conditions are concerned. By understanding and evaluating the local housing market, your agent can adjust the sales strategy accordingly.
The last thing you want is your unsold cottage or home languishing because the selling strategy was developed without considering whether it's a seller's market, a buyer's market, or somewhere in between (balanced).

Understanding market conditions is as simple as knowing the basic law of supply and demand. When there are more cottages or homes for sale than there are potential buyers, cottage or house prices drop. When there are fewer cottage or houses on the market than there are buyers, cottage or house prices will climb. When the number of cottages or homes on the market is roughly equal to the number of buyers, it's called a balanced market.
Here's how the housing market could affect your approach to selling:

Seller's market
This is the ideal position for a seller. With fewer cottages or homes to choose from, competition between buyers becomes a factor. This can spawn bidding wars that drive prices up.
You can expect to sell your cottage or home faster in a seller's market, and when it comes time to negotiate, you may not need to compromise on any unattractive conditions requested by the buyer.

Buyer's market
Your position as a seller becomes a little trickier in a buyer's market. A buyer's market means that you face more competition from other sellers. Your cottage or home may stay on the market longer, which can give the buyer more leverage.
Expect to sell for a little less, and be prepared to compromise or accept conditional offers more readily than you would in a seller's housing market.

Balanced market
Selling in a balanced market is a much more predictable endeavour. With sellers and buyers in equilibrium, cottage or home prices stabilize and the atmosphere on both sides of the transaction becomes relaxed.

Calculating Expenses & Costs
Be sure you've budgeted for all the expenses related to the sale of your cottage or house. You'd be surprised to learn how many costs can be overlooked during the cottage or home selling process: legal fees, tax adjustments, inspections and repairs, and even moving costs can really add up on your way to closing day.

Cottage or home selling costs you might be overlooking
As you prepare to put your cottage or house on the market, it is tempting to imagine how you'll spend the proceeds. Of course you'll put the bulk toward your new cottage or house, and you'll have to cover the real estate agent fee. But what if you turn a little more profit than you anticipated? That might have you thinking of a backyard hot tub, new wardrobe or tropical vacation.
But hang on a second. Before you start packing for Honolulu, be sure you've budgeted for all the expenses related to the sale of your cottage or house. Like with anything else, the devil is in the details and there are a number of incidentals that can really add up on your way to closing day. Set the swimming goggles aside (temporarily, anyway) and find out about the other cottage or home selling costs you might not have thought of.
Here is a list of some typical costs associated with selling a cottage or home. Depending on your unique circumstances and location, other costs may apply and the amounts will vary.
The cost of a new cottage or house
Obviously you aren't going to forget about this one, but it's here for the sake of thoroughness. Unless you plan on renting or have other arrangements, you'll need a new cottage or house once you've closed the deal on your current cottage or home. This will be your biggest expense by far, but hopefully the proceeds from selling your old cottage or house will cover the cost of the new cottage or house. If you still owe on your current mortgage, you may be able to transfer it to your new cottage or home, pay it off early, or have the buyer take it over.
Closing Costs to Consider

What fees will you own on closing day?
Buying a cottage or home can be hectic. You're coordinating meetings, arranging for financing and the cottage or house inspection, and making moving plans ' all this and more on top of your usual responsibilities. It can seem like you?re being pulled in a million different directions as you approach closing day and prepare to move into your new cottage or house.
In all the commotion it can be easy to forget budgeting for closing costs. These are fees owed on, or by, closing day that must be paid for your cottage or house purchase to be complete. Most of these fees are in addition to, and separate from, your mortgage loan (although some closing costs can be tacked onto your mortgage).
Closing costs can amount to a significant expense. Experts recommend budgeting at least 1.5% of the purchase price toward closing costs.
To give you a rough idea of what to expect, some of the most common expenses are listed below. These expenses are approximations only &  they may vary by region, and are prone to frequent changes. I can help you further define more precise numbers.
    Mortgage application  Typically not more than several hundred dollars. Due at the time of application.
    Cottage or house inspection (optional)  $200 and up. Due at the time of application.
    Legal fees (including disbursements)  Expect to pay between $1000 and $2500 for a real estate lawyer, but cost varies depending on the extent of services provided. Due at closing.
    Land Transfer Tax  Varies by province and sometimes by municipality or city.  Due at closing.
    Various registration fees (including deed /mortgage and governmental)  Several hundred dollars and up. Due at closing.
    Interest adjustment  Varies with mortgage amount and terms. Due at closing.
    Property tax/pre-paid utilities adjustments  Varies widely, but often under $1,000. Due at closing.
    Mortgage default insurance  1.00% to 3.25% of the principal amount of your mortgage. Due at closing.
    Property/fire insurance  Expect to pay $300 to $700 for most properties, but it varies according to coverage level, region and property type. Due by closing.
    Title insurance  Around $200. Due by closing.
    Estoppel certificate (for condos only)  Around $100. Due by closing.
Don't forget to budget extra funds for expenses related to moving (moving company, utility hookups) and regular housing costs once you own the cottage or home (utility bills, maintenance).
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The real estate agent's commission
This fee covers all the leg work, marketing and advice provided by your sales representative, as well as commission to the buyer's real estate agent (the seller pays both!). You can expect commission fees to be around 5% of the cottage or home's sale price, although they may be negotiable.
Legal fees and disbursements
When you're involved in a financial transaction as big as this, you will want to be sure you are protected. Your real estate lawyer (or notary in Quebec) will ensure that the buyer has made good on all terms outlined in the offer to purchase, and that you have met your legal obligations so that the deal may close. Legal fees vary widely, and the total cost depends on the extent of services provided. You will also be responsible for disbursements (any costs related to handling your file, such as long distance calls and travel).
Utility and property tax adjustments
This might not be a cost for you, depending on how your property tax and utility bill payments are scheduled. If you prepay these expenses, then you can expect the buyer to refund you the difference by closing day. If, however, you don't pay these expenses in advance, it will be you paying the buyer for the amount accrued prior to possession date. The exact amount will be calculated by your real estate lawyer.
Cottage or home inspection
Although this is entirely optional, many sellers choose to commission a professional cottage or house inspection before the buyer's inspection (and sometimes even before the cottage or house is put up for sale). This protects you from any unpleasant surprises uncovered by the buyer's inspector that might jeopardize the sale. A little advance notice gives you time to repair these issues.
When to Get a cottage or home Inspection
Determine your cottage or home's condition and value
Why would you, as a seller, have your own cottage or house inspected?
After all, many prospective buyers will insist upon a cottage or home inspection by a professional cottage or home inspector prior to making any firm commitments to purchase your cottage or home. And that's precisely why you should consider an inspection in advance of the buyer's.
You want to be prepared for any unpleasant surprises that could turn up in the buyer's inspection report. Ideally you should get an inspection early enough that you'll have a chance to remedy issues that could jeopardize the sale, or force you to lower your price.
What does the inspector inspect?
The cottage or home inspection goes well beyond window dressings, as your cottage or home's important structural, functional and safety features will be under the magnifying glass.
A qualified cottage or home inspector will give your cottage or house a thorough examination, checking the heating and cooling system, plumbing and electrical systems, the roof, attic, walls, ceilings, floors, windows, doors, foundation, basement and visible structures of the cottage or home.
The inspector will point out the need for major repairs, identify areas that may need attention in the near future, and explain what maintenance will be necessary to keep the cottage or house in good shape. You should expect a written report that identifies all findings, including fire and safety concerns.
You can use the report's findings to target essential pre-sale repairs. I can advise you which repairs are vital to the sale of your cottage or home at a price you're happy with, or see our ROI for renovation for a rough idea of what you can expect to spend.
You should know that if you become aware of issues in your cottage or home that need repair, you must disclose them to the buyer by law. That includes anything the inspector discovers during the cottage or house inspection.
Cottage or home inspections are relatively inexpensive. Expect to pay several hundred dollars and up. Consider this a small price to pay if it means the difference between making a sale and scaring off potential buyers.
I can provide you with a list of reputable, qualified cottage or home inspectors in your area. It is also a good idea to ask the cottage or home inspector for references.
Appraisals: determine cottage or home value
An appraisal is a report containing an estimate of the value of the property. Appraisals are typically conducted for the purpose of mortgage lending by certified appraisers. The appraisal should not be confused with the cottage or home inspection (which deals with your property's condition) or the market analysis (which focuses on price trends in a given real estate market).
Some sellers will commission an appraisal to help establish an asking price for their cottage or home. If you are working with a Royal LePage real estate agent, this step is likely unnecessary. I will help you determine the price by preparing a Comparative Market Analysis on your local housing market.

Repairs and renovations
When it comes time to show your cottage or home to prospective buyers you want your cottage or house looking its best. Some renovations can actually return your investment in the value they add to your selling price. Other fix-ups are expenses that you'll just have to absorb in order to make your cottage or house attractive to buyers. Too many serious issues left unfixed may make a cottage or home unsellable.
Moving costs
Following the sale of your cottage or house, you'll have to clear out your stuff and send it to your new cottage or home. So budget for the moving company, utility hookups and all the incidentals involved in buying and moving to a new cottage or home.
Once you've tallied up your total costs you'll have a better idea of whether you can afford to jet off to the sunny South 

 or settle for a pina colada on the patio.

Understanding Agency

Agency law protects home buyers from conflicts of interest, and ensures your real estate agent serves you with integrity, confidentiality and loyalty. Brush up on the types of agency relationships, so you can select a real estate agent the smart way,

Agency law: your assurance of fair play

Would you raise an eyebrow if you discovered your dentist owns the candy shop down the street? Would you be uneasy knowing the mechanic who fixes your car's brakes moonlights as a tow truck operator?

These examples may be a little far-fetched, but they demonstrate the point. You'd have cause to be extremely wary of the conflicts of interest that could arise from business relationships like these. It's basically why agency law was established  to protect you from real estate agents who claim to work in your best interest while actually working for another party.

Under agency law, the agent legally owes you the duties and obligations associated with agency: utmost care, integrity, confidentiality and loyalty.

As real estate agent I must disclose, in writing, whose interests he represents in any real estate transaction. I may represent either the buyer or the seller, and in some cases I may even represent both involved in the same transaction. The important thing is that I as your agent discloses this information as required by law.

The types of agency relationships:

As a Buyer's agent

I work only for you, the buyer, and am sworn to confidentiality and to work to find the best deal for you. If a seller reveals anything they wouldn't want the you as the buyer to know in front of me, as your agent, it's my duty to report that information back to you the buyer.

As a Seller's agent

I am legally and ethically bound to work solely on behalf of you as the seller. As your agent I will seek the best terms possible for you, and I owe no obligation to the buyer other than the duty to disclose any defects regarding the condition of the property.

As my client, expect complete confidentiality. As a buyer, watch what you say in front of me. As the seller's agent I am obliged to disclose any information that might benefit my client and I will. 

Dual agency

In some cases, the same agent (or agents from the same brokerage) represent both the seller and buyer. In this situation, the broker has a duty to be impartial. The nature of the dual agency must and will be disclosed to my clients, and you are required to acknowledge their understanding of the relationship in writing.