My free home
evaluation with no obligation is completed in 3 easy steps:
Step 1: Meet up
The two main purposes
of our first meet up is to get first-hand information about your property and to
know what is important to you.
I’ll tour your house. Take note of the overall conditions of the house. Collecting any valuable information such as the list of renovations, problems, legal aspect affecting your property, etc. Then we would take some time to talk about your needs and wishes.
More we go in-depth, better I will be able to put a plan that works financially and aligned with your value and wishes. Which increase your chance to sell it for top dollar in a shorter time frame on average.
Step 2: Let me do my magic
At this stage, you have nothing to do. Most home evaluation done from realtor are done via a generic function in Centris or JLR. It’s very basic and doesn’t take in-depth details to evaluate the property correctly. Both functions need a lot of adjustment to be right.
My academic background in finance, administration, economy, and statistics topped with my valuable experience as real estate investor, mortgage broker, financed advisor, and business owner allow me to do a home evaluation on steroid, which included:
- In-depth analysis of unit sold in Centris. Which mean, I look at the characteristics of property sold that are similar to yours. When available, I also take the time to read; the seller declaration, MLS listing, Certificate of location and whatever documents available that can justify the price sold. Those documents can explain why the selling price was too low or too high. Just looking at the price sold of a property without knowing where the number came from could be a costly mistake when finding for comparable.
- In-depth analysis of unit sold in JRL/Le Registre Foncier. Since Centris only shows listing sold via real estate brokers, using this database only can skew your listing price significantly in a negative way. Which can result in netting you out less money or worst burn your listing. So I also use JRL or Le Registre Foncier to cover all the listing sold off-market such as the one sold privately or for sale by owner, such as properties sold on Du Proprio. With Centris and JLR or Le Registre Foncier, I now cover 100% of all the units sold. Only a limited number of realtors would use all databases for their home evaluation.
- In-depth analysis of unit sold Du Proprio. Since JLR and Le Registre Foncier only give limited characteristics of the property such as the selling price, when it was sold and basic info, It is hard to do a comparative analysis without having deeper details about the property. So I have created a large personal database of properties listed on Du Proprio over the years. Such details could include elements such as, pictures of the property, when it was listed, how many open houses do they had, how many time they dropped their price, etc. This will help me find a more precise selling price than using the JRL or Le Registre Foncier only. That been said, I believe, I’m one of the rare realtors that would do this to find the right price for my sellers.
- In-depth analysis of unit expired. To narrow down the selling price to a smaller bracket price range, I also take an in-depth analysis of expired listings, properties that were on the market but didn’t sell because they were overpriced. This analysis will save you a lot of time by not overpricing your property. It also gives you a lot of insights to help you decide which pricing strategy would be best for you. Most realtors don’t do this step in their home evaluation. Professional evaluation doesn’t do it at all. This information can become very valuable if you know how to use it right.
- In-depth analysis of unit on sale. This analyses will help seller gather super important information that will help to put in place an advance selling technic called positioning strategy, which will result in selling your property faster for top dollar. Since it requires an in-depth knowledge of the properties characteristics, market conditions, and advanced analytic academic skill set.
- In-depth analysis of the market conditions. I like to be able to quantify the market conditions down to the exact neighborhood. So I’ll gather statistics about the real estate market to better understand its micro and macro conditions. So we can take advantage of the strength and weakness of the market in our favor when selling.
More you can gather valuable information more your suggested selling price will be optimized. This is the single most important tool to promote your house. Don’t take it lightly!!!
Step 3: pricing presentation
To get a new listing, it is too easy for a realtor to cherry pick listings that can justify the selling price that a seller wants to hear. So, to eliminate that effect and to be as transparent as possible, I always give the option to my seller to either get the summary of my findings or to go through the process on my computer life.
The second option allows the seller to see where the number came from and there was no number manipulation at all to skew the target selling price. My statistic professor use to say, the numbers are not as important as how you got to the numbers. This is so true when it comes to the market comparable analysis.