Selling Your Home

Once your home is market and viewer ready, your agent will prepare the listing agreement. A listing agreement is a contract that allows your REALTOR® to market and sell your home; it describes your relationship and outlines the details of your property, goods included, and price. Your agent will perform a comparative market analysis to determine the market value of your home, taking into consideration details that may increase or decrease the value, and will then provide you with a suggested range for your list price. The listing agreement also includes the real estate commission, a physical description of your property, legal information (lot number, land surveys, and zoning code), financial information (such as a required deposit or a mortgage that can be assumed), and completion date.Note: Chattels and fixtures, whether to include in your price. Chattels include movable items such as appliances and window treatments. They are not automatically included in the sale, but you may want to include them to “sweeten the deal.” Fixtures are permanent improvements such as air conditioning, light fixtures, and flooring. Ensure that you go over everything with your agent, particularly if you want to take it with you.

While a good showing may not get you more money for your home, it will get potential buyers in the door. Preparing your home for the listing photos and subsequent showings is paramount. Your agent will advise you on how you can best prepare your home for a sale, but start working on these basics: clean everything (including the baseboards, walls, and windows); remove clutter and unnecessary items (removing personal items allows potential buyers to picture themselves living in the space, less clutter is generally more attractive and enables easier walkthroughs); take care of minor, inexpensive repairs (e.g. squeaky doors, missing baseboards, leaky faucets, knicks and dents in the walls, electrical issues, water damage); paint in neutral, light colours (it’s the most cost effective way to increase appeal); and add some finishing touches (replace tattered curtains, add some décor items like mirrors, trim trees and hedges). You don’t need to spend a lot of money to make a positive difference, just consider what will make your home more desirable and what will increase the value more than it will cost you to do it. Remember, these days the first "showing" is on the Internet. So plan accordingly. Once your home is buyer ready, we will post a “For Sale” sign on your lawn, take photos (most buyers are drawn to view a property by the photos in the online listing, so the photos are very important), and your REALTOR® will place your home on the MLS (Multiple Listing Service®). The MLS is Canada’s most popular online tool for residential real estate, and where most people start looking for a property. Marketing will also include networking and social media.

If your home is well priced, market ready, and well marketed, potential buyers will begin booking appointments to view your home in person. Your agent will give you as much notice as possible prior to a viewing, but to make the most of last minute showings, keep your home in show form, looking clean and inviting; lock up your valuables (just a precaution, as your agent will request a name and number from every visitor), attend to any potential hazards, avoid cooking with strong aromas (i.e. fish), secure your pets, and make yourself scarce.

Receiving an offer is very exciting and often emotional, your hard work is paying off and you may be on your way to a sale. Your agent will show you every offer submitted and you can accept, reject, or counter each offer. While price feels like everything, keep your cool and discuss each component, particularly conditions, thoroughly with your agent before responding.

Negotiations begin when you counter an offer. You may want to ask for more money or change the closing date or add or remove chattels. Remember though, that by countering an offer, you release the buyer from their original offer. Your agent is your best resource during negotiations and can provide valuable input and advice.

If the buyer placed conditions on the offer (eg;  financing, the sale of their property, review of condominium documents, or a property inspection), they must be lifted by the predetermined date – until that time, the offer is pending. (Which means for that duration your property is officially "off" the market for that duration) Once the conditions are met, a waiver is signed and you have officially sold your home.