SELLER'S GUIDE
Selling Your Home May Seem Like A Complicated Process, But It Doesn't Have To Be. This Guide Is Designed To Help You Navigate Your Way Through It With Ease And A Peace Of Mind
STEP 1: FIND AN EXPERIENCED REALTOR
Enlist the help of a qualified realtor with the skills and expertise that fulfill your needs:
- Exemplary knowledge of the market.
- Positive reviews from previous clients.
- Superior negotiation skills.
- Financial acumen
- Excellent communication skills
- Great time management
- Marketing expertise
STEP 2: PLAN AHEAD
Discuss your needs and your future plans (are you planning on buying once you sell? Will it be in a high demand area or market segment?) with your realtor based on timelines and local market conditions. This allows them to determine the best listing strategy moving forward.
Discuss the home preparation process including de-personalization and de-cluttering to create an open neutral living space that appeals to every taste. Discuss the need for any repairs, painting, upgrades, staging etc…
STEP 3: DETERMINE THE LIST PRICE & MARKETING PLAN
Work with your realtor to determine the best listing price based on the pricing strategy, whatever you do, don’t overprice the property, as this may hurt your chances of fielding great offers.
Go over your realtor’s marketing plan to ensure it’s unique & personalized to your home for maximum exposure:
- Professional photography & videography
- Floor plan drawings
- 3D virtual tour
- Feature sheet
- Digital media campaign
- E-blast
- Open house
STEP 4: PREPARE FOR THE SALE
It’s now time to execute on everything you discussed with your realtor in step 2 to ensure your home is in showroom condition:
- Complete any repairs, upgrades discussed
- De-clutter and de-personalize the space
- Deep clean the home especially forgotten spaces (light switches, baseboards, windows, kitchen appliances, etc…) Consider hiring a professional cleaner if necessary.
- Improve curb appeal by making sure landscaping/hardscaping is in tip-top condition. This also applies the backyard.
- Stage the property if necessary.
STEP 5: MARKETING & SHOWING THE HOME
Now that the property is in show home condition, your realtor will begin executing on the discussed marketing plan allowing your home to come to life through marketing collateral and media assets.
Discuss logistics for showing and any parameters for scheduled appointments:
- Be prepared to be out of your home for all showings.
- Make the home readily available for potential buyers by limiting restrictions on showing times/days.
- Store valuables and sensitive documents in a secure place.
- Prepare for open houses if applicable.
STEP 6: NEGOTIATING OFFERS
Discuss the offer process with your realtor. It will vary depending on the pricing strategies discussed in step 4. Your realtor will review and present offers received. The focus will be on:
- Price
- Completion date
- Terms and conditions
Decide on the offer that best suits your needs. Don’t get hung up on the price alone, a lower firm offer with a completion date that’s convenient for you may better suit your needs than a higher conditional offer with a completion date that leaves you scrambling to find a place to live.
STEP 7: ACCEPT AN OFFER
Once you accept accept an offer the buyer/s will provide a certified deposit (typically 5% of the purchase price) to be held in trust by your realtor’s listing brokerage (or in some circumstances your lawyer) until the completion date.
If the offer accepted is a conditional one, the buyer is afforded a due diligence period -as outlined in the Agreement- to fulfill or waive said conditions. Be prepared to allow the buyer reasonable access to your home for them to conduct inspections or appraisals in order to fulfill the conditions. If after the due diligence period is complete, the buyer renegotiates the terms, work with your realtor to negotiate a solution that’s amenable to all parties. Once the buyer fulfills or waives the conditions the deal becomes firm.
STEP 8: PREPARE FOR CLOSING
Get your affairs in order in preparation for closing:
- Hire a real estate lawyer to execute the transaction on closing. They will:
- Contact utility providers to terminate utility service accounts in your name on the closing date.
- Arrange for movers to move your furniture and personal effects to your new home just before closing.
- Setup mail forwarding to the new home address with Canada Post so that it starts on the closing date.
FIND OUT WHAT YOUR HOME IS WORTH.
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