Steps to selling

Selling a home is one of the biggest decisions you’ll make. Done well, it’s profitable, and quickly successful. Where do you start? These steps put you in charge of the processing, giving you everything you need to see your home sell for the most possible in the least amount of time.

#1: Make the Decision to Sell

Take a moment to consider some questions:

  • Why do you want to sell?
  • Do you plan to move to a new home?
  • When do you want to list your home for sale?
#2: Choose a REALTOR

Over 91 per cent of homes sold in 2015 were through a REALTOR and most of those that did not use a REALTOR sold to a family, neighbor, or a friend. Using a REALTOR offers numerous benefits:

  • It saves you tie.
  • It helps you to get the most out of your home as possible.
  • It gives you access to an experienced, skilled negotiator.
  • REALTORs ensure you follow all legal processes properly.
  • You gain peace of mind.

A top-performing real estate agent ensures your home sales process is highly success. Remember, they don’t cost you money, they help you make it.

#3: Get Your Finances in Order

Money matters are at the heart of every real estate transaction. Doing this before you sign a listing agreement ensures you are fully aware of what other costs you may be subjected to during the sale process. Before you buy, get your finances in order.

  • Consider all associated costs in the sales process.
  • Determine if you may have to pay a pre-payment penalty.
  • Get estimates on the cost to remove an oil tank from your property, if necessary.
#4: Determine When to Sell

Only you can decide the best time to sell for yourself, but there are a few things to keep in mind:

  • Historically, listing a home for sale in spring gives you the best access to buyers.
  • Consider the competition for homes in your community.
  • Look into competition in similar neighbourhoods to your own. How well does your home compare?
  • How is the market right now? Your REALTOR can help you with this.
  • Consider your personal needs.

You’ll then need to sign a listing agreement with your REALTOR to represent and begin marketing your property.

#5: Declutter and Prep Your Home

Presenting your home in the best possible manner ensures the highest value possible. Getting the property show-ready may require some work. A few key places to begin this process include:

  • Declutter by removing anything not necessary in the home.
  • Clean – everything!
  • Walk through the home objectively looking for areas that could be problematic to a would-be buyer. Ask your REALTOR to help you!
  • Stage every room for its optimal use. Remove excess furniture to open the spaces up.
  • Use a Pod for storage of items you don’t need right now but plan to take with you. Give buyers as much of a “view” of the home’s structure as possible.
#6: Pricing Your Home

Your REALTOR works closely with you throughout this process. Many factors can play a role in the pricing of your home including:

  • Current market conditions
  • Size, finishes and the condition of the home
  • Sales in the area especially right on your street
  • Sales of homes in nearby neighbourhoods
  • Location
#7: Market Your Home to Gain Exposure

Your REALTOR will work with you to determine the best way to market your home. Today, multiple options exist but the goal is to give your home the most comprehensive exposure possible. Some methods include:

  • Photography and video marketing
  • Use of for sale signs
  • Open houses
  • Online marketing including email and social media
  • Print marketing methods

We need to understand who your ideal buyer is. Then, we can tailor your marketing campaign directly at those individuals, giving you the very best ability to connect with the right buyer.

#8: Show Your Home

Showings allow buyers to see your home. You should not be present because you’ll want to provide the best atmosphere for the potential buyer. You should:

  • Be as flexible about showing times as possible.
  • Keep the home clean for those last minute showing opportunities.
  • Keep the home’s lights on to brighten up the space.
  • You may wish to move out of your home if you live in a competitive market to allow for daily showings.
  • Board the dogs if possible.
  • Keep the dishes clean, the beds made, and the floors clean at all times. Expect a showing!
#9: Accept Offers and Negotiate

Many home sales become a bidding war. Your agent will work with you to ensure you get the best price for your home through the negotiation process. When comparing your options, consider:

  • The financing condition: Whether or not the buyer is ready with a mortgage in-hand
  • The home inspection condition: Which allows the buyer to have a third-party home inspection.
  • Negotiate price, but also factors such as deposits, closing dates, conditions, repairs, and inclusions.
#10: It’s Closing Day!

Closing day is the day the new buyers take possession of the home. You and your lawyer will work together to complete this step. You’ll need to:

  • Inform the utility companies
  • Inform city about the sale so you avoid property tax payments going forward
  • Cancel your home insurance.

Prior to the closing day, you’ll also sit down to sign documents to formally sell the home. You’ll sit down with a lawyer to sign a number of agreements. Ask questions if you have any at this time. Once this process is complete, the money changes hands less all legal fees, commissions, and adjustments.

Selling a home is a complex process, but with the help of a skilled and successful REALTOR, you’ll find this process can be a bit easier to manage.

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