Whether your upsizing, downsizing, or selling an investment property, the steps to sell are universal., Selling a home is a complex and multistep process and having a realtor at your side to expertly guide you through every step eliminates the stress and anxiety of selling a home. Here's a general overview of what to expect and prepare for.
Organize your Finances
Whether you're still paying off your mortgage or simply cashing out, it's important to determine your finances before selling your home; there may be some hidden fees you're not aware of so pay a visit with your mortgage lender before you proceed.
Choosing the right Realtor for you
Whether you’re buying or selling a home, it’s important to understand from the outset how professional representation can help you at every step of the process.
Think of your Realtor as your trusted advisor.
Your Realtor can help you navigate potential pitfalls and fill in knowledge gaps you may have when searching for your first home.
A Realtor is held to a higher standard than required by law. Realtors in Canada are bound by the REALTOR® Code. This code of ethics is another layer of protection on top of the Real Estate Services Act, which governs real estate licensees in BC
Getting your home ready to sell
An attractive, well-kept home has a better chance of selling faster. Keep in mind that cluttered rooms make them look much smaller than their true size – try to create a feeling of spaciousness.
Minor updates, like improved lighting, can add value to your home. Think about how to highlight and improve your home’s best features.
The inside story
You can do a lot to improve the inside of your home without spending a great deal of money. Two primary areas to keep in mind are the kitchen and bathroom.
Ensure kitchen and bathrooms are sparkling clean
Repair dripping faucets and showerheads
Steam clean or replace carpets if necessary
Thoroughly clean every room in the house, removing all clutter
Repaint dingy walls or kitchen cabinets with a neutral colour
Replace worn or outdated countertops and cracked light-switch plates
Remove any items (like chandeliers) that won't be included in the sale of the home
Listing your Home
In real estate, timing influences what your home will sell for. How quickly you need to sell, whether it’s a buyers’ or sellers’ market, and seasonality all play a role in your home’s final selling price. Stay on top of market conditions to better understand today's real estate prices. For the most detailed knowledge, you’ll want to consult your Realtor.
Listing your home too low, market value, or too high can significantly impact the sale of your home. The right asking price will attract attention and maximize your return. A Realtor helps you determine the best price to set for your home. They’re experts at assessing and marketing your home’s value. They’ll help you determine an evidence-based price for your home based on their knowledge, experience, and market research.
Marketing & Promoting
Now that you've decided to work with a trusted Realtor and have signed a Listing Agreement, which gives your Realtor permission to post your property on the MLS (Multiple Listing Service). They will begin marketing your home through a variety of sources. They will collect information about your property, to create a marketing plan along with digital and other sources to promote your home.
Offer & Closing
Congratulation, after all the hard work of marketing and promoting your home; you have one, two, or more offers. Your Realtor will expertly guide you to sort out which offer meets your terms and condition. Once you have accepted an offer, the Buyers will conduct an inspection and potentially negotiate the cost of any repairs.
Next is to assign a Lawyer/Notary to complete the transfer of ownership to the new buyer.