Selling A Home
In today’s market, many homeowners have considered “going it alone” and selling their homes without the help of a REALTOR® to “save the commission.” However, once they realize how complex and intimidating a real estate transaction can be, many people reconsider and enlist the services of a REALTOR®. There are more than 145 steps to complete a real estate transaction. It requires an organized, step-by-step approach that many homeowners just don’t have the time, skill or experience to carry out.
A REALTOR® provides a variety of services including help in setting a listing price within current market guidelines. They develop a marketing plan, offer recommendations and advice to make your home more attractive and “saleable,” and act on your behalf during negotiations to ensure your interests are protected.
Another advantage of working with a REALTOR® is the far-reaching market exposure your home will receive through the Multiple Listing Service® (MLS®). This co-operative marketing system relays information about your home to a vast network of REALTORS® and therefore, potential homebuyers in your market. The greater the exposure your home receives, the more likely you are to find a buyer willing to pay your price.
Selling your home is not a simple procedure. It involves large sums of money, stringent legal requirements and the potential for costly mistakes. A REALTOR® is committed to spending the time it takes to help you sell your home in the least amount of time and for the best possible price.
A REALTOR® must disclose to you in writing, who exactly they represent in any real estate deal. A REALTOR® may represent a buyer or a seller; they may also represent both buyer and seller in the same transaction. Your listing REALTOR® is, in law, your agent. An agent owes his or her client the duties of utmost care, integrity, confidentiality and loyalty. Make sure you discuss agency with your listing REALTOR®.
The process of selling a home with a REALTOR® starts with the Listing Agreement. It’s a contract between you and the brokerage company that the agent represents. It is a framework for subsequent forms and negotiations. It’s important the agreement accurately reflects your property details and clearly spells out the rights and obligations of all parties. Both you and the listing agent sign the listing agreement and each receive a copy. The agreement binds both parties to its terms and conditions.
A REALTOR® has the research and expertise to provide a market assessment of what similar properties in your area have sold for. They can also provide information on market history, such as the number of properties sold in your community the previous month or year.
A REALTOR® also has a number of marketing tools and options to promote your property. First is the REALTOR.ca web site, which attracts more than a million unique visitors a month. It shows the details of your home to local, regional or national buyers looking for a property in your community.
Your REALTOR® may also recommend an open house as a marketing strategy. There are two types: first is an agent’s open house, where sales representatives from the listing company will be invited to view your house. If you have signed an MLS® agreement, other REALTORS® may also be invited. Remember, each of these REALTORS® may have a prospective buyer. The second type of open house is a public open house, where members of the public are invited to walk through your home and have a look. It’s an efficient way to show your home to many potential buyers at once. The listing agent will act as host, answering any questions.