You’ve decided it’s time to sell. Now what?
Call us! We’d be happy to come to your home and run you through a comparative market analysis. Our process is twofold. First, we’d like to come over for a tour of your home, look at any renovations you’ve done and assess the condition of the home overall. From there, we’ll put a report together for you that will detail the market trends for your specific subset of the market; the content of the report will detail a statistical analysis of your market as well as a look at current comparable properties that are listed as well as what properties have sold. Then we’ll discuss the market strategy we would employ as well as discuss a range of market value and a go-to marketing strategy which would include a recommended list price.
You’ve decided to work with us. Awesome!
Thank you so much for your business! From here we will set up a time to review and sign all of the pertinent paperwork and make a plan to get your home on the market. We’ll arrange a time for a staging consultant, if required, to advise you how to optimize your home for photos. Once that’s done, we’ll have our professional photographer and videographer (incorporating drone footage as well) come in to showcase your home in the best light possible. A professional floor plan will also be done. Once these assets are created, we’ll list your home on the multiple listing service (MLS) and all relevant social media channels.
Open Houses and Showings
A fantastic metaphor for sales in any industry is to visualize it as a funnel. The first step to filling that funnel when selling real estate is creating the absolute best digital presence possible for your home. An optimized digital presence will help attract buyers to view the photos, floorplan and drone and cinematic walk through that was created for your home. The floor plan will help them understand exactly how your home is laid out. This attention should yield showings and attendance at our open houses. The more attention we generate here the higher the probability of generating offers.
Offers
If the home is priced and marketed well offers will be generated. Part of our job is to help you assess the strength of the offers presented. Purchase price is definitely a huge factor in deciding whether or not to move forward with an offer although there other factors to consider as well:
- Deposit amount – generally, we like to see the deposit at roughly 5% of the purchase price. If the deposit is low and there is a long completion, you’re exposed to the risk of the buyer walking away and forfeiting their deposit. While you will retain the deposit, this won’t cover your damages, especially if you’ve purchased another home. We need to make sure the buyer has enough “skin in the game” to ensure the transaction goes through.
- Terms and conditions – unless there is multiple offer situation, most offers typically contain between five to seven conditions. Those generally include property insurance, inspection, property disclosure statement review and title review. If the property is stratified, they will generally want to review all of the strata documentation. If the home is using a well and septic field instead of municipal services, they will likely want to examine these systems. If there are conditions outside of these ones, like an offer being subject to sale for example, the offer will be weakened tremendously. Another thing to watch for is a long subject removal. We also endeavour to vet the prequalification of the buyer as well; we’ll ask the buyer’s agent if the buyer is preapproved and if so, who are they are they working with as their broker. We want to learn as much as we can about the buyer before we accept their offer.
- Completion and possession dates – do they make sense for you and your family? Are they open to negotiation on these dates?
Firm Offer
After the buyer has done their due diligence, they will remove subjects and put the agreed amount of deposit into the buyer’s agent’s brokerage’s trust account until the completion day. At this point, we will encourage you to open up a bottle of your favourite wine, crack a beer or pour a glass of scotch because your home is now SOLD!
The next steps are to plan for your move, start packing, start changing your address etc.
Are you think about selling? Want to chat about this process in person and get a sense of what your home is worth? Give us a call or text at 778-241-8932. We’d love to hear from you and chat about your next move.
Sellers
Once again, the short answer is NO! If you have purchased a home, sold a home, or just hunted for homes, you have most likely used third party real estate search engines to search for homes. These sites provide estimated values of homes for nearly every home in Canada. However, these are not always accurate home values for your local market. All estimates are based on calculations and formulas that do not necessarily provide accurate information. These online guesstimates can be deceiving and lead to both upset buyers and sellers. You can receive a more accurate value of your home by speaking with a top Realtor in your local area, not a third party real estate website. If you are looking to see an accurate and up-to-date evaluation of your home’s current value contact us today.
Great question! This process varies from month to month, but we want to sell your home as quickly as possible. We consider ourselves a very tech savvy Real Estate team and we have an in-depth Marketing process that we want your home to be a part of!
The answer here takes into account the neighborhood, condition of the home, market fluctuations, and so much more. We’re happy to put together a custom report for you on your home’s value! Get started by filling out the form on this page.
While usually commission is negotiable and depends on a few different factors, rates vary from 7% on the first $100,000 and between 2.5-3.5% on the balance of the sale price depending on the agent and services provided.
We’re happy to talk more about our commission process as well as all of the services that we offer to our sellers. Let’s set up a time to chat here.
There are quite a few things that you can do to prepare your home for the market. At the minimum start by patching holes in the walls, fixing leaky faucets and replacing anything visibly broken. It’s also a nice touch to clean carpets, removing any wear or stains, and to repaint any bold colors a warm, neutral tone helping the overall value of your home.
Yes and no! Properties will continue to sell year-round but there are periods of higher demand. Depending on when you decide to sell could directly affect the amount of time on the market and the final sale price of your home.
Weather conditions, according to the area, play a role in popular times for buying/selling. Generally speaking, spring is a season in which the market picks up. Towards the latter of summer, the market demand can get substantially slower as buyers and realtors take their summer vacations.
The same goes for the fall. A second demand occurs up until about November, prior to the approaching holidays. The upside to keeping your home on the market during the holidays could be directly related to supply and demand, as there are constant buyers in need of homes. Seller competition is substantially lower.
We recently wrote a blog about the 5 renovations that bring in the highest return on investment, click here to see what you can do to increase your home’s value.
The short answer? No.
If a seller is present while a potential buyer comes to see the home this can create a sense of awkwardness for both parties. The buyer tends to feel uncomfortable speaking candidly about the listing, and the seller’s involvement may potentially disclose unnecessary information that could further affect the sale of the home.
In general, you have the obligation to disclose anything that may be a potential problem or affect the value of the home.
In most provinces, it’s illegal to directly conceal or lie about any major issues going on in the house such as asbestos, roof damage, or lead paint. Things like strata fees and rules, neighborhood meetings, and zoning requirements should also be noted. You may want to disclose anything of the paranormal variety or if someone has passed away in the home.