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Things to consider when selling your home
May 19, 2017

On the REALTOR.ca website, there is an excellent testimonial video of a seller named Jennifer who deeply regrets not using a REALTOR® to sell their family home for financial reasons (“could have gotten a lot more money”) and dealing with the stress of so many little aspects of a transaction that she did not know existed.  Click on Live With No Regrets and you will find her video.

In the video, there are many helpful points on selling your home by engaging the professional knowledge and expertise of a Realtor.

Selling a home isn’t something to leave up to chance. Without a Realtor, one of the largest transactions of your life could quickly become one of your largest regrets. There are several things to consider, among them:

• Is now a good time to sell?

• What’s the best way to get the word out?

• How do you get top dollar for your property?

These are just some of the questions a Realtor will answer to ensure you’re happy throughout the entire process.

Without being able to describe all of the points involved in the process, here is a brief list:

• Decide when to sell.

• Prepare your finances.

• Find a Realtor who is right for you.

• Determine your home’s asking price.

• Sign a listing agreement.

• Prepare your home for sale.

• Let your Realtor market your home.

• Closing the sale.

In each of these aspects of selling your home, there are many details to consider and discuss with your Realtor to determine how you wish to proceed to obtain a successful outcome, such as:

• Do you buy first or sell first?

• How quickly do you need to sell your home? 

• If you have a closed mortgage, you need to be prepared to pay a penalty that depends on how much time is left on the mortgage term.

As for choosing your Realtor, you may want to consider interviewing a few before deciding who is right for you.

When you get to listing your home, what price you establish is critical, as you do not want it too low or high. The market knowledge of a Realtor, especially with regard to your property and the current market you are in, will be invaluable in helping you arrive at a price that is right for you.

There’s lots to consider and decide upon in a listing agreement, for example, a marketing plan, the commission amount, what chattel and even fixtures stay with the home, and the physical description of the property.

As for preparing your home, getting rid of clutter is a must-do. Touch-ups and even some home staging may well become something you want to do.

As for marketing your home:

• Do you want to start with an open house? 

• Are you willing to take advantage of a lockbox to make it easy for your home to be shown by your Realtor to other Realtors who have qualified buyers?

As for getting an offer on your home, you need to consult with your Realtor on how you will handle it. You can accept, reject or send back a counter offer. You may want to change the closing date, or not accept one of the imposed conditions on the offer, for example, the sale of the purchaser’s home.

Your Realtor will also take you through the steps involved in closing the sale once you have agreed on the price and the terms of the offer. One important step is to advise your lawyer that an agreement has been signed and you are ready to close the transaction.

The bottom line is that when you use a Realtor, you will have no regrets.