Selling Property on Manitoulin
If you own property on Manitoulin Island and are considering selling, or preparing for the possibility of doing so in the future, I hope you will find this section informative.
In particular I have provided information that will hopefully help you answer the following questions:
- Why I should use a REALTOR®?
- Why I should use a Local REALTOR®?
- Why I should consider utilizing the services of Scott McDougall, sales representative for J. James Bousquet Realty Inc., Brokerage?
Should I use a REALTOR®?
Some benefits of using a REALTOR® are;
Assistance With Pre-market Preparation
- Identification of projects or tasks sellers should consider, and what projects to leave for the buyer.
- Identification of insurability considerations. You may have had your property insured for some time in its current state, but due to changes in criteria no insurance company would write a new policy today. Explain what is expected of a seller.
- Outline of what is important to disclose to buyers and why.
- Insights provided into a reasonable selling price. Can also provide comparable sales for review.
- Explanation of what selling costs to expect.
- Identification of potential obstacles.
- When beneficial, research is done with the Manitoulin Planning Board, Registry Office, local municipality, etc.. (The Manitoulin Planning Board and Registry Office are both located in Gore Bay, which is very beneficial to me since that is where my office is.)
Marketing & Promoting
- Preparation of property information to provide to buyers. Outline what information buyers are looking for.
- Posting of listing information online and in a hard copy form of advertisement. (To some buyers, having this information published associated with a real estate brokerage legitimizes the content of the information.)
- Screen buyer inquiries.
- Local area knowledge provided to prospective buyers.
- Co-ordinated viewing exercises. Sometimes it is best that buyers and sellers don’t meet prior to negotiating an offer. A REALTOR® can provide a neutral line of communication.
- Maintenance of property For Sale signs.
- Seller is informed when marketing amendments should be considered, such as an adjustment to the asking price.
Offer to Purchase
- Assurance that a seller’s interests are protected and eliminate liability potential.
- Limit emotions that can sometimes negatively impact the outcome of a negotiation.
- Assurance that offer deadlines and timeline are reasonable.
- Sellers are informed when a buyer’s demand is unreasonable or not typical for a particular market/property.
- Assurance that deadlines are met and dealt with in a timely manner.
- Communication and coordination with the parties involved with the fulfilment of the conditions (buyers, sellers, lenders, inspectors, municipalities, etc.)
Once an offer to purchase has become firm and binding, the role of a seller’s agent does not end.
- Assurance that outstanding tasks are met and that all parties involved, (buyers, sellers, lenders, lawyers, etc.) are provided the information they need in a timely manner.
- Coordination of a pre-closing site visit if so desired by a buyer.
- When required, assistance buyers in getting access to keys once it has been confirmed by the seller’s lawyer that the deal is closed.
More information about the benefit of using a REALTOR® can be found on the following link:
Should I use a Local REALTOR?
A local REALTOR® is your invaluable resource who lives, works, and plays here – therefore knows the Manitoulin.
- When a seller lists a property with our brokerage they have the option to have it included in to the Sudbury Real Estate Board database and is therefore automatically uploaded to our national MLS system. ( www.realtor.ca ) which is known world-wide as a trusted, current and an accurate database of Canadian properties for sale.
Buyers prefer a selling agent that is able to answer questions such as;
- active land claims
- location of current and proposed wind farms
- availability of municipal services
- pros & cons of Lake Huron waterfront versus waterfront on the inland lakes
- Many Manitoulin buyers reside a significant distance away. Often potential buyers decide only after they are on the Island that they wish to view a property. As a local REALTOR® I have a better chance of reacting to an unplanned showing request.
- As a local REALTOR® I can make a property visit when necessary for absent sellers to address miscellaneous issues such as;
- ensure the property is in “showable” condition
- check driveway & sidewalk conditions in the winter
- conduct a follow-up visit to review concerns identified during a showing
I have had sellers state that they believe that they will have a better chance of meeting their objectives by working with a brokerage that is located where they feel their buyer market is.
- In my opinion, the typical buyer for recreational or residential property usually starts the process by selecting target geographic locations. In some instances that decision has already been made. Then the buyer will research information about the area(s) and/or start reviewing the available listing inventory for suitable properties. The majority of buyers today are comfortable with searching on the internet, therefore most of the information they need to get started with is at their fingertips. They can either search for Manitoulin Properties on www.realtor.ca or use internet search engines to search for Manitoulin Properties. Therefore a typical buyer “goes to their target areas” physically and electronically to start their search. Even when relatives or family friends ask for my assistance outside my service area, I advise that them that I cannot properly service the listing. I am however, willing to suggest a local REALTOR® who would be in a better position to help them.
Why Should I Consider Scott McDougall as My Seller Agent?
- With my almost 20 years of experience in this industry, strong knowledge of Manitoulin Island, and positive work ethic creates a good foundation for a successful working relationship with sellers.
- I am registered with a well known local brokerage, J.James Bousquet Realty Inc., that has been serving Manitoulin Island and area for over 40 years.
- With over 1000 square miles, Manitoulin Island is a large area to service. Being centrally located in Gore Bay does provide an advantage.
- Some properties have unique features, or too many features to adequately describe in the standard listing feature sheet. In these instances I will create customized material that is also made available in a PDF file, which is a widely accepted electronic format.
- For deserving properties, I offer a narrated slideshow that is in Youtube® format that is accessible from on www.realtor.ca or can be easily provided to prospective buyers by emailing an electronic link.
- To further assist my seller clients I have prepared reference documents that I can provide to them to help them better understand various aspects of the selling process.
- Offer to Purchase Process – Described in a Flow Chart
- Offer to Purchase Timeline (typical offer with buyer conditions)
- Home Inspections
- Multiple Offer Guideline
- Calculation Worksheet – Net Proceeds from a Sale
- Available on our Broker Website are useful resource material for buyers and sellers.
- Once an offer has been accepted I record on a Deal Checklist form all tasks/deadlines that need to be accomplished in order for the deal to close on schedule. I review weekly at a minimum to ensure that pre-closing tasks are not overlooked and left to the last minute.
- I ensure all signs and any other marketing materials are removed from the subject property before the new owners take possession.
- Typically within a couple of weeks after a deal has closed I contact my seller client to see if there were any concerns about the process or experience. At that time they are provided with Client Survey that is totally voluntary.
See also Testimonials from some of my satisfied clients.
Also provided are SOLDS of real estate deals that I had the pleasure of assisting clients with.