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6 Steps of Selling Your Home

1. Pre-Listing Consultation

Projecting who the potential Buyer is and what will be of interest to them is important and assists with pre-sale marketing. Factors such as location, neighbourhood, lot size, age, condition, features, amenities, proximity to schools, transportation and recreation should all be taken into consideration.

Some homes benefit from a staging consultation to get things tip top prior to hitting the market. Others require a marketing plan based upon the home's particular strengths. Our first meeting with you is a great opportunity to discuss what you are looking to achieve with the sale of your home. It’s also the perfect time to itemize any tasks or fix-ups that need to be completed to listing.

2. Setting the Listing Price

While every Seller wants top dollar for their home in the least amount of time, it’s essential to understand the current market conditions before you set a sale price and list your home for sale. You’ll want to avoid over pricing and set a sale price that attracts the maximum number of Buyers to your property. Similarly, under-pricing can attract the wrong Buyers who aren’t in the position to purchase your home for the price you are ultimately expecting.

This is where we can help. Our extensive area knowledge and experience will help guide you in setting the right price for your property. A successful sale looks a little different for every Seller, conditions such as timing, terms, and dollar amount vary depending on the situation and we can assist with planning a successful sale that works perfectly for you.

3. Listed on MLS

As part of the listing process, it’s important to discuss what times work best for you to have your home open to Buyers and Buyer’s agents. Buyer’s generally come in one of two ways, either with their agent during a scheduled showing or during an open house. There are definite advantages to both scenarios and these should be discussed so that expectations are clear. While an open house gives Sellers a definite block of time that their home is available to view and allows for ease of planning, it rules out any Buyers who aren’t available during that time frame and may be seriously interested and able to purchase. Open houses also open the doors to unqualified and unaccompanied Buyers who are simply “window shopping”. Alternatively, Buyers who book a showing through their agents are generally serious, pre-qualified, and ready to buy. However, booked showings are time consuming and can be sporadic throughout the day and therefore more disruptive to the Seller.

4. Receiving Offers

Ideally, all your hard work with preparations and our hard work with marketing and showings leads to the best possible outcome…an offer. It’s possible, particularly in a busy market, that you may have more than one offer at a time and will have to weigh the pros and cons of several different options at once.

Read Understanding the Contract of Purchase and Sale in our White Rock Life blog for more information about this.

5. Waiting for Subject Removal

If you accept an offer that contains subjects, it’s wise to continue to market your home in search of a backup offer. Otherwise, you are effectively taking your home off the market for a period while the Buyer attempts to fulfil the subject clauses. We can advise on the best possible way to position the next Buyers to be ready to jump if the first Buyer fails to remove subjects

6. Deposits

A typical offer will require the Buyer to pay a deposit to their Realtor’s brokerage where the money is held in the brokerage’s trust account. The deposit is negotiable but is generally in the neighbourhood of 5% - 10% of the purchase price. Most deposits are paid by way of bank draft and are paid within 24 hours of removal of all subjects. Once paid, the deposit can only be released upon Completion, if the Buyer and Seller mutually agree to release it by way of signing a release agreement, or if a court decides to release the deposit.