THIS ISSUE: ½-Price Classifieds / Square-Footage / Wooooo, SCARY! ARCHIVES: www.privatelist.com/newsletter.htm As an experiment, PrivateList is now offering clients savings of at least 50% on a limited number of classified-ad spots in Saturday editions of the Halifax HERALD. A PrivateList "wrapper" consisting of heavy border, header and footer has been designed, into which references to specific properties can be inserted. Each 2-line insertion costs $25 (+ 15% HST). If you’d like to schedule a series of ads (we'll write the copy), please send preferred dates and payment to:
(You will be refunded for any unused spots, should your property sell before your ads run out.) It doesn’t help prospective buyers weigh the merits of various properties if they can’t trust indications of their respective sizes! Here are the rules you should use when determining square-footage of your property for a PrivateList display:
As a private seller, you are bound to hear from realtors - take advantage of it! Invite them in, let them know you’d be happy to consider any offer they might bring (see Timely Tip #3), and welcome a comparitive market analysis if they offer one. But be firm in stating that you intend to sell privately, and be prepared for the occasional salesperson who will try to frighten you into listing with the MLS. A page on the Winnipeg Real Estate News web-site (www.wreb.ca) illustrates a common tactic, referring to the "mind-boggling" details involved in a real-estate transaction and asking: "As the buyer, do you simply take the vendor’s word about zoning? About clear title? About the true ownership of the property? About any liens against the property? What about that finished basement or deck - were they constructed with proper permits? How about the taxes, now that the vendor has been re-assessed? Has the vendor received any notices about health, environmental protection, fire or occupancy permit bylaws?" This is followed by a long list of questions concerning everything from UFFI insulation to local-improvement levies to the Homestead Act - the implication being that every question that buyers or sellers can’t answer with their eyes closed is a potentially-fatal black hole into they’ll inevitably be sucked. So what gives with the thousands of Canadians every month who buy or sell privately with no problem whatsoever? (See www.privatelist.com/bravo.htm, for example.) "What gives" is that virtually all the unknowns trotted out to scare you involve either (a) steps normally handled by your lawyer or mortgage company, (b) property details covered in a typical house-inspection report or disclosure statement, or (c) simple "how-to" issues discussed on any good by-owner web-site. And what of the warning that without the MLS you can hope to reach only a tiny number of rabid bargain-hunters, most of whom probably don’t qualify for a mortgage? Every day, PrivateList receives hundreds of visits from buyers (see our Nova Scotia statistics, for example), any one of whom can verify their bank-loan eligibility - and even submit a mortgage application - online (check our Mar 16/01 newsletter). So don’t be intimidated! Review our comprehensive how-to resources, price your property competitively (easier to do if you're not paying a realtor!), get the word out every way you can (by classifieds, highlight sheets, lawn sign, a full-color internet display, word of mouth) and ask your lawyer if you have any technical questions. Then, once you've completed your deal . . . a toast to the impossible! FRIENDLY REMINDERS . . . Are the thousands of dollars you'll save by selling privately worth, say, an hour each week-end, spent reviewing your progress to date and mapping out your continuing campaign? It's important to maintain an active marketing focus until your property is sold. Therefore, each e-mail version of this newsletter links to a series of reminders, tips and tools that lead to a sale! To access these resources, press here.
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