If you have a home to sell, you’re probably excited and anxious to get the process started. There are many things you need to consider when selling your property, and it’s hard not to feel overwhelmed by the task. The good news is our team done extensive research about what you need to know about selling your home – and we’ve answered the questions you’re probably wondering:
How will you determine my home’s value?
To determine your home’s value and set a listing price, we will complete a Comparative Market Analysis. The CMA uses recent sales of homes close in geography, age, size, and features to yours. (A CMA is not the same as an appraisal, which a licensed appraiser can perform.)
Is it a good idea to start at a higher price point?
Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical. First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run. Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled. Third, if your listing price puts your home higher than your neighborhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction. It’s best to set a realistic listing price that will bring you buyers quickly. My goal is always to get you the highest possible price in the shortest amount of time.
How soon can I get my home on MLS?
Once we agree to work together, we will set a listing date at your convenience. We will also schedule time for our professional photographer to take photos of the property. As soon as we have all necessary documents signed, and listing information we can upload all of these items and the listing can go live on the MLS.
What do I need to do to get ready to list?
For your part, it’s a good idea to begin cleaning out or organizing storage spaces, closets, and drawers and putting away some of your décor or belongings. If your budget and timeline allows, you may also want to have the exterior pressure washed, and the landscaping cleaned up. We can talk further about specific things that will help your home show better and even talk about using our professional home stager to help stage your home.
How will showings be conducted?
You and the agent you’re working with from our team will agree on the terms you are comfortable with for showings. We want to make the home accessible to buyers without too much disruption to your personal life. We can use a showing schedule, and unless we agree otherwise, we will notify you in advance of showing requests. We typically use electronic lockboxes that only active members of our local Realtors association can access. Any time the lockbox is accessed, we receive a notification.
If you’re selling a tenant occupied property, we do provide the necessary notice for showings, and speak directly with the property management company if it’s more convenient for everyone involved.
How will you market my property?
Marketing your listing is of utmost importance. Most buyers find their properties online through MLS (via their agent,) Realtor.ca, or other search engines. Listings in our MLS system automatically show up on these sites within a day or two of becoming active. In addition, we share our listings with the agents in our networks, on our website, and on our social media platforms. We can discuss additional opportunities such as hosting open houses and marketing within your neighborhood.
How long will it take to find a buyer?
Several factors influence the time it takes to find a buyer. These include the market conditions, price range (higher-priced or luxury homes typically take longer to sell,) location (whether your home is in a desirable neighborhood or a unique location,) and the condition of the home (is it move-in ready or in need of renovations?)
In a balanced market, most houses, when priced accurately and without significant damage or extenuating circumstances, go under contract within thirty days. Homes sell faster in a seller’s market, while buyers take more time to look when inventory is high.
Will you qualify the buyer?
When an offer is received, we will work with the buyer’s agent to vet the buyer. Buyer’s are also encouraged to get a pre-approval from a mortgage lender prior to searching or, if paying cash, provide verification of funds available to cover the purchase price.
Once you accept an offer, the buyer must put down the agreed upon deposit, schedule any inspections as stipulated in the contract, and, if financing is involved, their lender will initiate the loan approval process.
We will stay in close contact with the buyer’s agent to make sure due process is followed.
Will you also represent the buyer?
If any of us happen to find the buyer for your home, be assured that we are trained and experienced in handling both sides of the transaction fairly. As professionals, we respect the confidentiality and loyalty required in dealing with both parties. On the plus side, communication is easy when we are representing both sides. Working on both sides of the transaction is hard work, but it would not be a problem.
How often will we communicate?
Communication is key to an easy and successful sale. We will keep you appraised of events every step of the way. You are welcome to reach out to us with any questions or concerns. When we go over the listing information, we will discuss your preferred means of communication and schedules to make sure we know each other’s availability and boundaries. We will also make sure to keep you updated with our marketing progress, any feedback we receive and any next steps we may need to take.
Thinking of selling? Our team is here to help! Shoot us a message, email or give us a call today.