Discussing
Listing Options
Your Realtor will explain the several ways
your property can be listed. The vast majority of properties are listed
with the Multiple Listing Service®. The MLS service is a database
of properties for sale that is accessible to all Realtors as Real Estate Board
members. Your Realtor will walk you through the Listing Agreement,
complete all forms necessary, and be able to explain the form and function of
the Property Disclosure Statement.
Marketing
Your Home
Depending on your type of property, the target
market, your time frame, and competition within the marketplace, your Realtor
will develop a marketing plan that suits your requirements. Marketing
may involve neighbourhood promotions, print and/or online advertising, signage,
open houses and private showing appointments.
Throughout
the term of your listing agreement, your Realtor will be in touch with you to
provide you with feedback received from prospective buyers. This will
determine any adjustments necessary to the asking price or marketing plan, particularly
if there is new competition, or if other similar properties have sold.
Is your property still competing well? If not, your realtor can help you decide
what to do.
Showings/Open Houses
There are two types of open house. The first is held
for real estate agents to pre-view the property on behalf of prospective buyers.
The second type is open houses for the general public. Open houses
can be an efficient way to showcase your property to a larger number of individuals
at a specific time, but they are not suitable for all properties.
Your Realtor can advise you on which option would best serve your needs.
Offer Negotiation
As the listing agent, your Realtor must present to you all offers
received. Depending on market circumstances, you may receive a number
of competing offers at the same time. Realtors are trained to deal
efficiently with these situations and ensure that you, as the Seller, obtain the
best possible price for your property. Your Realtor is there to protect
your best interests at all times and has the skills to negotiate a contract that
fits your requirements.
Once a suitable Buyer is found, your
Realtor can be of immense help during the, sometimes, stressful negotiation period.
They have been through this procedure many times and know the finer points of
offers and counter offers. A Seller without a professional on his
or her side could be at a distinct disadvantage during this process.
Having a Realtor working for you during negotiations keeps you at “arm’s
length”, thereby greatly reducing the anxiety involved in selling and allowing
clear, objective decisions to be made.
Completion and Move-Out
Completion, possession and adjustment dates will be specified within
the Contract of Purchase and Sale. On the completion day, legal ownership
of your property is transferred to the buyer. Prior to completion,
your Realtor can help you select a legal representative to take care of the completion
procedures. Out of the proceeds of the sale, there are a number of
costs that will be payable including the following: -
Real Estate Commission
-
Legal Fees to Transfer Title
- GST
on the Commission and Legal Fees
- Any
Penalties Applicable for Paying-out your Mortgage Early
- Your
Share of the Property Taxes
|
