In today's fast-paced, high-stakes marketplace, it takes know-how to sell a home. That's why most sellers enlist the services of a REALTOR® -a professional who has the qualifications, experience, skills, time and knowledge to provide the advice and services needed.
A REALTOR® will market your home to your best advantage. He or she will help you set a price that reflects the true value of your home under the current market conditions. They will also explain the selling process and help you close a deal.
But even before you enlist the help of a REALTOR®, it's a good idea to try to understand the steps involved in making a successful sale.
Preparing your home
Whether or not your home shows well to prospective buyers may determine how long it stays on the market and what it sells for. A home that is clean, in good repair, uncluttered, nicely landscaped and welcoming creates a good first impression. Add some fresh paint, flowers, a few new area rugs and you'll improve it's marketability even more. You should also act on any tips your REALTOR® provides on how to "show" your home better or add more curb appeal.
Setting an asking price
Deciding what the "asking price" of your home will be is one of your REALTOR®'s prime tasks. Your home will to be analyzed and compared to similar homes for sale or recently sold in your area.
The price should be one that you and your REALTOR® decide on together, based primarily on your home's fair market value. But you will also have to consider the strength of the real estate market, interest rates and consumer demand for your type of property.
Bringing in the experts
Once your home has been "listed", it is essential to have a lawyer standing by to help ensure your rights and interests are fully protected, and to complete the sale successfully once you find a buyer.
Real estate documents such as the offer to purchase are complex and should be reviewed by a lawyer who specializes in real estate transactions.
A lawyer will also look after the many complicated and time-consuming procedures involved, from the time you sign an agreement with a buyer to the actual closing. For example, if the buyer is going to assume your mortgage, your lawyer will gather all the documents required to complete the transaction and transfer title to the new owner.
The marketing plan
With your help and based on the prevailing market, your REALTOR® will develop a marketing plan that may include open houses, advertising and a variety of listing choices.
The marketing plan may also include local newspaper advertising, Internet exposure, direct mail flyers, lawn signs and multiple listing of your property through the Multiple Listing Service (MLS®). An MLS® listing gives your property greater exposure to a broader base of potential buyers and is a valuable tool when you are anxious to sell your home quickly.
REALTOR® is a registered trademark of the Canadian Real Estate Association
and identifies a real estate practitioner who is a member of the Association.
Working With A REALTOR ® Articles