Selling your home isn't a simple procedure. It involves large sums of money, stringent legal requirements and the potential for costly mistakes.
As your Realtor, I will spend the time it takes to help you sell your home in the least amount of time and for the best possible price. It is my job and legal obligation to protect and promote your interest. I promise to look after your interest, as if it was my own.
A Listing Agreement is a contract between you and my Real Estate brokerage. It provides a framework for subsequent forms and negotiations. It is important the agreement accurately reflects your property details and clearly spells out the rights and obligations of all parties.
Generally, in the agreement you appoint my brokerage company as your agent and give me the authority to find a purchaser for you home. The Listing Agreement will outline:
- The duration of the agreement.
- The Realtors compensation.
- The listing price and an accurate description of the property.
- Financial conditions of the property, including the mortgage balance, mortgage monthly payments and the mortgage due date.
- Information about annual property taxes.
- Any easements, rights of way, liens or charges against the property.
Property Disclosure Statement
It is a seller's obligation to disclose facts about the property for sale. I will ask you to fill out the disclosure statement, if you can. The buyers will need to know material facts about the property, anything that could materially affect the sale price or influence a buyer's decision to buy it. A major cause of post-sale disputes and lawsuits relate to defects and disclosure, but most disputes can be avoided if proper disclosures are made. Intentionally withholding information about a property when selling it can have serious legal consequences.
How much should you ask for? Although you may have an idea of how much your house is worth, it is important to have your home valued on its own merits by a professional. Be careful not to price your property too high or too low. If it is too high, there is no sale; too low and you lose on your investment.
It will be my pleasure to provide you with a Market Analysis to determine the current "Market Value" of your property. I have the information and expertise to assess at what prices similar properties in your area have sold. Further, I am able to provide information on market history, such as the number of properties sold in your community the previous month or year and other interesting information.
Listing and Marketing Your Property
If your listing is an MLS (Multiple Listing Service) listing, I will place your listing on a real estate board's MLS® System. Through the board's MLS System, several thousand other Realtors, which are members of that board, can find and view information about your property and all have the opportunity to sell your property. Your property gains massive exposure, because it reaches real estate professionals in your community, as well as in Greater Vancouver and the Fraser Valley. With your permission, I would also advertise your property through several other electronic media.
I may recommend to hold an Open House. There are two types. First is an agents open house, where sales representatives from the listing company will be invited to view your house. Each of these Realtors may have a prospective buyer.
The second type is a public open house, where members of the public are invited to view your home. It's an efficient way to show your home to many potential buyers at once. I will act as host, answering any questions.
I look forward to discussing your individual requirements with you. Working together, we will develop a "custom fit" marketing plan and strategy to best sell your home.
Waiting For The Right Opportunity
Sometimes a home doesn't sell right away. Avoid the urge to pull your home off the market. Be persistent! Generally, there are three reasons why a home may not sell as fast as others: location, condition; and asking price.
Obviously, you can't change your home's location. However, you can improve the condition of your home and you can, of course, adjust your price. Throughout the listing process, you need to be constantly comparing your asking price against those of similar properties in your area. In order to always stay "on target", I will review your selling strategy regularly with you and help you answer the following questions:
- Is your house being shown regularly?
- Are you receiving the feedback from prospective buyers?
- Are you in touch with the marketplace?
- Is your property competing well? If not, what else can you do?
Once a buyer is found, you'll receive an offer that will:
- Detail the buyer's price.
- Specify any conditions that may apply or be attached.
- State a desired date of possession.
- The date the offer expires.
I will review the offer with you and explain all details. You don't have to accept the offer as is. You may wish to make a counter offer that meets the original offer partway. The counter offer is one more step along the way to negotiating the final terms and conditions of the sale. You can rely on my experience and expertise in negotiating the best possible price, terms and conditions for you.
The offer, once signed by everyone, is a binding contract. I will make sure that you clearly understand and agree to all of the terms in the document. Before signing you may wish your lawyer to review it. Your lawyer will ensure that you receive compensation for prepaid expenses such as, property taxes, electrical or gas bills, or if applicable, any heating oil left in your tank.
After these expenses are paid, you will receive any money you have coming from the sale.
Other Possible Requirements
Before closing, the buyer most likely will insist upon several conditions of sale. You may be asked to provide a number of things. Here are some examples.
- A current survey, or a "real property report," showing that the house sits on the property that you own and that there aren't any encroachments onto other properties.
- Title to the property. The buyer's lawyer will check this out when he or she conducts a title search to see if there are any liens on the property, easements, rights of way or height restrictions.
- Especially in rural areas, a certificate for a well or septic system, stating the system meets local standards.
- Access to the property by a qualifed engineer or inspector.
I will research into all required items and assist you in providing them to the buyer, as part of the full range of my service. Further to this, I can provide you with contact information from a list of proven industry related trades and professionals, as needed.