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Sellers Info

How to Review an Offer
What a Listing Entails
Why it Pays to Use a Realtor®
Why Using a Realtor® Makes Sense

How To Review An Offer

If you have ever sold a home before, you know there is a lot more to an offer to purchase than merely the price the buyer is willing to pay. Other important factors that must be weighed carefully include a suitable closing date, financing, conditions and items which are to be included in the sale. It is a good idea to discuss all of these points with your realtor®.

Closing Date
The closing date is one of the most important things to consider. Is it going to involve extra cost to you to have to move on a particular date? Are you going to have to store your furniture because of a short closing or face the prospect of carrying two properties for a couple of extra months because of an unusually long closing?

Financing also has a great impact on the offer. For example, if you have to discharge existing debts and mortgages against the property, be sure to verify whether you will have to pay early discharge fees.

In the offer, the buyer may also request that you take back a mortgage. If you are retired and you are trading down to something smaller, you may want to take back a mortgage and enjoy the resulting income. On the other hand, if you are trading up, you may not be interested in this option because you may need the funds for a bigger down payment.

Conditions on financing are generally quite short and, as a seller, you will want to know if the buyers will be able to get the necessary financing before you accept their offer. You may be better off with an offer that is slightly less in price but has fewer restrictive conditions.

Items Included in the Sale
Buyers may wish to include certain chattels in the sale of your home — like the antique crystal chandelier in the dining room, or the custom-made bookcase that fits perfectly between the living room windows.

You may, however, have formed an emotional attachment to these items and be somewhat reluctant to include them in the transaction. If there are items you do not want included in the sale, it might be a good idea to remove them from sight before you put your home on the market.

How a Realtor® Helps
Your realtor® has used his or her knowledge, trainin and expertise along with access to the Multiple Listing Service® to help find a possible buyer for your home. He or she will review all offers with you and help you to assess them objectively — so be prepared to allot an adequate amount of time for this task. It will be up to you to decide whether you want to accept an offer, decline it altogether or make a counter-offer.

Marijane Smith will gladly offer helpful advice if you have any particular concerns or questions.

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What A Listing Entails

Are you thinking of selling your home? If so, you will need professional help to ensure your home gets maximum exposure and is properly marketed. You will want to enlist the services of a realtor® to make sure you achieve your goal.

The listing is the beginning of a selling process that includes a well-thought-out and detailed marketing plan, accessibility to a wide range of potential buyers and commitment to professional service.

Technically speaking, a listing is an authority granted by you to a real estate agent to act as your realtor® in offering your property for sale, according to the terms and conditions set out in the listing contract. When you list your home with a real estate agency, you are entering into a binding agreement with that firm, so it is important to choose a company and a realtor® with whom you will be satisfied. To find the right firm and individual, ask friends and relative for recommendations and try interviewing three realtors® and ask them about the services that they will offer when they list your home.

What You Can Expect
Your realtor® will conduct a thorough inspection of your property and do a comparative market analysis to see what similar homes in the area are selling for. This, along with your individual circumstances, will help you determine a suitable price range for your home. You will also decide how long the listing will be.

Placing your home on the Multiple Listing Service® (MLS®) gives it maximum exposure in today’s marketplace because it ensures details about your home are shared with all other realtors® in the Victoria area, all of whom are members of the Victoria Real Estate Board.

Your realtor® will ask you for information on taxes, surveys, title deed and the mortgage, if any—all of which is important to potential buyers — and will tell you about preparing your home for sale, arranging showings and open houses and what’s involved in offer presentations.

Scouting for Buyers
Once the listing is complete, your realtor® will check his or her contact lists and begin to try and pinpoint and pre-qualify potential buyers for your home. This way, you avoid an endless parade of people coming through your home who are not serious about buying.

If an offer to purchase is made while the listing is in force and you accept it, you will then owe the real estate agency a commission for having used its services. Be aware that that there is usually a holdover clause in listing agreements. This means that a commission is owed to the agent even after the listing expires if one of th buyers who was introduced to the property through the marketing activities of the agent buys it within a specified time period.

For more information about the listing process, Contact Me today!

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Why It Pays To Use A Realtor®

Are you thinking of selling your home? Your home is likely to be the largest possession that you have ever bought or sold. Selling your property is a process that is bound to be a little nervewracking and emotional and it requires an in-depth knowledge and experience in a wide range of disciplines.

You will need a clear understanding of the legal issues and potential pitfalls. After all, one wrong move could result in a lot of cost and frustration. That is why it is essential to have a realtor®. As a licensed real estate professional, he or she will work with you to help make the sale of your home a successful and satisfying experience.

Greater Exposure
Realtors® are experts when it comes to marketing homes. Realtors® use the Multiple Listing Service® (MLS®) to give your home maximum exposure. MLS® is a computer-based system that relays valuable information about your home to hundreds of realtors® and potential homebuyers.

Setting a Price
Undoubtedly, setting a price for your home is an important but difficult process. Again, this is where the services of a realtor® prove invaluable Realtors® have the experience to help you understand how the market works and decide upon a realistic price that meets your goals. Realtors® also pre-screen potential buyers to make sure only those who are serious and financially qualified view your home.

Realtors® will also develop a marketing plan to help your property receive maximum exposure. This will likely include placing your home on the MLS® system and placing a “For Sale” sign on the front lawn. The plan may also include arranging open houses for other realtors® and potential buyers, and developing advertisements and feature sheets/mailers to market your home. A realtor® will also arrange all showings of your property.

Once you have accepted an offer to buy your home, your realtor® will help ensure that all the proper paperwork is completed. He or she will also make sure that both parties meet the necessary conditions outlined in the agreement.

As you can see, it pays to work with a professional. When you work with a realtor® you will likely get a better price for your home than if you try to sell it yourself. But quite apart from the financial benefits, there is an extra measure of comfort and security that comes from having a realtor® on your side. Remember that realtors® are governed by a strict code of ethics and standards of business practice. They have also been trained and licensed under the provincial Real Estate Act to assist in transactions involving real property. When it comes to buying or selling property, using a realtor® just makes sense.

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Why Using A Realtor® Makes Sense

If you have been thinking about selling your home, perhaps you have been toying with the idea of trying to sell it yourself to save paying a commission to a realtor®. However, when you consider the amount of time needed to market your home along with the costs of advertising and other incidentals, you may be surprised to discover that not only are you unlikely to save much, it will also likely take much longer to sell your home privately. There is also the chance that you may not get as much for your home.

Consider also all the documentation, negotiation, and legalitie involved in selling a home. It is a tremendous responsibility to single-handedly manage a transaction involving what is probably the largest purchase you have ever made.

Is your time valuable? You will have to consider how much your time is worth and whether you are prepared to sacrifice much of it to show your home to potential buyers. Keep in mind that without the help of a trained realtor® you will not necessarily be able to distinguish the serious buyers from people who are merely browsing.

MLS® And You
You want to ensure that the maximum number of potential buyers learn about your home. That’s why it makes sense to work with a realtor®. Realtors® have access to the Multiple Listing Service® (MLS®) system. MLS® and realtor® service offer you a tremendous marketing combination. When a realtor® lists your home on MLS® it gives your home maximum exposure to all other realtors® in the Victoria area (members of the Victoria Real Estat Board). As most buyers also work with a realtor®, this ensures exposure to a broad range of interested people.

For most people, selling a home is an emotional experience and you will not necessarily be as objective as a realtor® would be about the value of your home when negotiating a deal. Because of this you may not get the best possible price for your home.

Realtors® are highly trained individuals who use their special skills to evaluate your home and suggest a suitable price range, giving you peace of mind and realistic expectations.

And There Is More!
A realtor® will make appointments to show your home to potential purchasers and act as a mediator to head off potential conflict between you and your buyer. A realtor® will also draw up a legal binding contract to assist you with all the details required to complete the transaction successfully — including presentation of offers.

So if you are thinking of selling your home on your own, think again and carefully consider the numerous advantages of working with a highly trained professional - a realtor®.

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