Are you thinking of selling your home? Your home is likely to be the largest possession that you have ever bought or sold. Selling your property is a process that is bound to be a little nerve-wracking and emotional and it requires an in-depth knowledge and experience in a wide range of disciplines.
You will need a clear understanding of the legal issues and potential pitfalls. After all, one wrong move could result in a lot of cost and frustration. That is why it is essential to have a REALTOR®. As a licensed real estate professional, he or she will work with you to help make the sale of your home a successful and satisfying experience.
REALTORS® are experts when it comes to marketing homes. REALTORS® use the Multiple Listing Service® (MLS®) to give your home maximum exposure. MLS® is a computer-based system that relays valuable information about your home to hundreds of REALTORS® and potential homebuyers.
Undoubtedly, setting a price for your home is an important but difficult process. Again, this is where the services of a REALTOR® prove invaluable. REALTORS® have the experience to help you understand how the market works and decide upon a realistic price that meets your goals. REALTORS® also pre-screen potential buyers to make sure only those who are serious and financially qualified view your home.
REALTORS® will also develop a marketing plan to help your property receive maximum exposure. This will likely include placing your home on the MLS® system and placing a “For Sale” sign on the front lawn. The plan may also include arranging open houses for other REALTORS® and potential buyers, and developing advertisements and feature sheets/mailers to market your home. A REALTOR® will also arrange all showings of your property.
Once you have accepted an offer to buy your home, your REALTOR® will help ensure that all the proper paperwork is completed. He or she will also make sure that both parties meet the necessary conditions outlined in the agreement.
As you can see, it pays to work with a professional. When you work with a REALTOR® you will likely get a better price for your home than if you try to sell it yourself. But quite apart from the financial benefits, there is an extra measure of comfort and security that comes from having a REALTOR® on your side. Remember that REALTORS® are governed by a strict code of ethics and standards of business practice. They have also been trained and licensed under the provincial Real Estate Services Act to assist in transactions involving real property. When it comes to buying or selling property, using a REALTOR® just makes sense.
Are you thinking of selling your home? If so, you will need professional help to ensure your home gets maximum exposure and is properly marketed. You will want to enlist the services of a REALTOR® to make sure you achieve your goal.
The listing is the beginning of a selling process that includes a well-thought-out and detailed marketing plan, accessibility to a wide range of potential buyers and commitment to professional service.
Technically speaking, a listing is an authority granted by you to a real estate agent to act as your REALTOR® in offering your property for sale, according to the terms and conditions set out in the listing contract. When you list your home with a real estate agency, you are entering into a binding agreement with that firm, so it is important to choose a company and a REALTOR® with whom you will be satisfied. To find the right firm and individual, ask friends and relatives for recommendations and try interviewing three REALTORS® and ask them about the services that they will offer when they list your home.
Your REALTOR® will conduct a thorough inspection of your property and do a comparative market analysis to see what similar homes in the area are selling for. This, along with your individual circumstances, will help you determine a suitable price range for your home. You will also decide how long the listing will be. Placing your home on the Multiple Listing Service® (MLS®) gives it maximum exposure in today’s marketplace because it ensures details about your home are shared with all other REALTORS® in the Victoria area, all of whom are members of the Victoria Real Estate Board.
Your REALTOR® will ask you for information on taxes, surveys, title deed and the mortgage, if any— all of which is important to potential buyers — and will tell you about preparing your home for sale, arranging showings and open houses and what’s involved in offer presentations.
Once the listing is complete, your REALTOR® will check his or her contact lists and begin to try and pinpoint and pre-qualify potential buyers for your home. This way, you avoid an endless parade of people coming through your home who are not serious about buying.
If an offer to purchase is made while the listing is in force and you accept it, you will then owe the real estate agency a commission for having used its services. Be aware that that there is usually a holdover clause in listing agreements. This means that a commission is owed to the agent even after the listing expires if one of the buyers who was introduced to the property through the marketing activities of the agent buys it within a specified time period.
When your home is for sale, it’s often more than just the purchase price and location that will make or break a deal. Making your home look its very best and presenting it as a desirable place to live is also very important.
Your REALTOR® can give you an objective opinion of what you need to do. REALTORS® have the experience and knowledge that can help identify problem areas or suggest improvements. In most cases, REALTORS® will not suggest major renovations. A few minor repairs here and there and a thorough cleaning are usually all that are required.
Virtually all buyers are on the lookout for one thing — a clean home. Many will simply walk away if a home looks uncared for and, at the very least, an untidy home will fetch a lower selling price. Ensure your home is spotless and free of clutter. The two most important rooms in a buyer’s mind are the kitchen and the bathroom. Pay particular attention to these areas — they should sparkle and shine.
There are certain items that must be repaired if there are problems. A leaky roof, for example, must be fixed. Any electrical problems will have to be addressed. Furnaces, water heaters and plumbing also fall into this category.
Other areas may not need major repairs but will need attention. These can include leaky faucets, holes in window screens and any broken glass, etc. If some of your walls are too dirty to come clean, you may wish to consider a paint job. Carpets and rugs should also be clean and in good repair.
Take a close look at the state of your yard. If you are showing your home in the summer, trees and shrubs should be pruned and your lawn kept neat. In the fall, rake leaves regularly and in the winter ensure the walks and driveway are kept clear of any snow or ice.
Usually, most renovations do not translate into an increase in selling price of more than the cost of the renovations themselves. Painting, wallpapering and modest landscape improvements usually recover their costs, but major projects such as new patios, decks or additions rarely do.
If you are selling your home because you need more space with a growing family, or if you plan on downsizing now that the kids have left home or you want less work, your REALTOR® can help. With access to the Multiple Listing Service® (MLS®) your REALTOR® can provide you with list of homes for sale that meet your needs and your budget. If you have access to the Internet you can view all of the properties listed for sale on the Board’s MLS® system by logging on to www.REALTOR.ca.Why Hire Rick as your Listing Agent