Seller FAQs

Seller Frequently Asked Questions!

How will you determine my home’s value?  

To determine your home’s value and set a listing price, we will complete a Comparative Market Analysis (CMA). The CMA uses recent sales of homes close in geography, age, size, and features to yours. (A CMA is not the same as an appraisal, which a licensed appraiser can perform.)  

Is it a good idea to start high?  

Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical and often fails. First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run. Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled. Third, if your listing price puts your home higher than your neighbourhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction and ends with you getting less money for your home then if you had priced it competitively from the onset. It’s best to set a realistic listing price that will bring you buyers quickly. Our goal is always to get you the highest possible price in the shortest amount of time.  

What percentage of the listing price can I expect to get?  

The list-to-sell ratio is determined by dividing the selling price by the listing price. The ratio is largely market-driven. In a sellers’ market, which is when inventory is low, sellers may get close to 100% or over 100% if the home sells above list price. In a market with a large inventory of homes, a buyers’ market, buyers have more negotiating power, so the list-to-sell ratio may be lower. Our goal is to get you as close to a 100% list-to-sell ratio as the market will bear.  

How soon can I get my home on MLS?  

Once we agree to work together, we ask that you trust and respect the process and not 'rush to market' with sloppy marketing. Ideally we need two weeks to prepare your home and all associated the marketing. If you need repairs or a trade to come in it may be a bit longer. Remember, our goal is to get you the most amount of money in the shortest amount of time. Let's keep our eye on the prize!

What do I need to do to get ready to list?  

For your part, it’s a good idea to begin cleaning out or organizing storage spaces, closets, and drawers and putting away some of your décor or belongings. You may also want to have the exterior pressure washed, and the landscaping cleaned up. We will talk further about specific things that will help your home show better.  

How will showings be conducted?  

We agree on the terms you are comfortable with for showings. We want to make the home accessible to buyers without too much disruption to your personal life. We can use a showing schedule, and unless we agree otherwise, you will be notified in advance of showing requests. We typically use electronic lockboxes that only active members of our local Realtors association can access. We can set the lockbox on a schedule, if necessary. Any time the lockbox is accessed, we receive a notification.  

How will you market my property?  

Marketing your listing is of utmost importance. We will discuss our strategy in person. Most buyers find their properties online such as Realtor.ca, Point2Homes, or other search engines. Listings in our MLS system automatically show up on these sites within a day or two of becoming active. In addition, we share our listings with the agents in my network, on our website, and on our social media channels.

How long will it take to find a buyer?  

Several factors influence the time it takes to find a buyer. These include the market conditions, price range (higher-priced or luxury homes typically take longer to sell,) location (whether your home is in a desirable neighbourhood or a unique location,) and the condition of the home (is move-in ready or in need of renovations?) In a balanced market, most houses, when priced accurately and without significant damage or extenuating circumstances, go under contract within thirty days. Homes sell faster in a seller’s market, while buyers take more time to look when inventory is high.  

Will you qualify the buyer?  

When an offer is received, we will work with the buyer’s agent to vet the buyer. All offers should be accompanied by either a pre-approval from a mortgage lender or, if paying cash, by verification of funds available to cover the purchase price. Once you accept an offer, the buyer must provide the agreed upon deposit within 24 hours of acceptance, schedule any inspections as stipulated in the contract, and, if financing is involved, their lender will initiate the mortgage approval process. We will stay in close contact with the buyer’s agent to make sure due process is followed.  

What are the costs involved?  

The seller usually pays for the real estate agent fees, which are divided between the buyer’s agent and the seller’s agent. The seller also pays their share of the property taxes for the year & utilities. If the full annual amount has been paid, the buyer will repay their portion back to the seller at closing.

Is your commission negotiable?  

The commission is not negotiable. A great agent makes the 'job' look easy! Just like any other professional, you are paying not just for the service provided, but for the knowledge and experience of the providers. We have decades of experience in this industry and are well respected in our profession. Did you know that are required to complete a certain number of continuing education courses to maintain our licenses? In addition to that, we are continuously taking seminars and attending conferences throughout North America to improve our skills and learn about new technology to better serve our clients. We are consistently looking to improve and deliver five-star experiences to our clients. We work full time and pay for all expenses out of our own pocket. Keep in mind that the commission is split between the two sides, and both agents must abide by the structure their brokerage follows. If we were to reduce the commission upfront, buyers’ agents might be less likely to advocate for your property. We work very hard to represent you honestly with full loyalty and integrity to earn the designated commission. This work is our livelihood, it's how we pay our bills & feed our families. We absolutely love what we do and go above and beyond the call of duty to earn our pay and close transactions with as little stress as possible for our clients.  

Will you also represent the buyer?  

It's much rarer then you would think and by law, we are obliged to inform you and receive your written consent. Should we happen to find the buyer for your home, be assured that we are trained and experienced in handling both sides of the transaction fairly. As professionals, we respect the confidentiality and loyalty required in dealing with both parties. Working on both sides of the transaction is hard work, but it would not be a problem.

Can I cancel if I find my own buyer?  

The listing agreement is a contract between you and our brokerage with us as your designated representatives. It stipulates the terms for cancellation, which you are encouraged to review. Once we have signed the listing agreement, a prospective buyer that approaches you directly is to be redirected to us, your REALTORS®.

How often will we communicate?  

Communication is key to an easy and successful sale. We will keep you appraised of events every step of the way. You are welcome to reach out to us with questions or concerns. When we go over the listing information, we will discuss our preferred means of communication and schedules to make sure we know each other’s availability and boundaries.

Thinking of selling? We're here to ensure that you get top dollar for your home. Shoot us a message or give us a call today 613.701.9490.