Selling A Home

Selling your home is a major undertaking and often is a complex process that calls for the expertise of a REALTOR®. Every deal is its own, however, below is a brief layout of the steps you’ll want to consider, and a general overview of what the process may look like.

Get Your Finances in Order

One of the first steps to take is notify/discuss your ideas with your current lender, as you may have some obligations attached to your current mortgage. It is certainly ok if you’re still paying off your mortgage as there are several options to consider, depending on what type of mortgage you have, so that is why it is important to discuss. 

Meet With a Realtor®

There is an ocean of Realtors® out there, it’s important to partner with a professional you feel is a great fit for your needs, as the relationship is built on trust, knowledge, morals not just a transaction. Make sure your Realtor® is asking all the important questions that will ensure your journey is being given the care it deserves. I have seen/heard some horror stories. It isn't just about the highest price on your current home, that is certainly a part of the equation, but make sure he/she is constantly checking in on your expectations, cognizant of  your why, when, & how you want the transaction handled. Additionally, it is key that your chosen representative has a great knowledge base around your neighborhood, and the surrounding market, so they can answer questions potential buyers, or buyers agents may/will have. 
Lastly, I will make mention of empathy. It is essential a Realtor® understands the size of the transaction, and the emotions involved. This is someone's home we are talking about, there are often cherished memories, financial stresses, and everything in between. There is no cookie cutter mold for a deal, each client has a different set of priorities. That said, just make sure you are being listened to actively. You are the boss of this, and we work for/with you as the expert to achieve your needs. You are a human, not a transaction.
In my opinion, a Realtor® should not walk into an initial listing discussion with the price decided. There are so many factors to discuss, and most importantly a product to walk through and view, before shooting a random number out before educating yourself on the client thier product. Watch out for this! It is a clear sign you and your house are just a number.

Listing Your Home

Once you've chosen your representative, it is time to get the place ready to be listed. Depending on the property and desired timeline this can include discussions around some potential renovations that might result in a much more desirable/sellable product. Even things like a top dress in landscaping, or a coat of paint on the walls, etc. No product is a replica of another if it has been lived in, so again no cookie cutter template should be applied. Once all of that is decided upon it is the time to discuss the pricing of your home. Setting a fair price is key, too low or too high is not acceptable. Sure you want to attract the most potential buyers, and give your home the best exposure, but too low welcomes low balls, and wastes a lot of your time. Too high, you risk the house sitting on the market and becoming stale, then buyers loose interest, or purchase something that is priced much more appropriately. None of this is a good look. An experienced Realtor® should be able to arrive at the fair market value of your place by being in tune with a multitude of factors that determine a great price range that should clearly expressed to you, and ultimately agreed upon. This is based on: competitive pricing, current market stats, comparables, as well as the things that are unique to your home.

Marketing & Promotion

Now that you have selected your representative, hopefully talked through all the details you wish to accomplish(including the price), it is time to lay out the plan. It starts with signing a Listing Agreement, which should have a "Schedule A" in it, this is your Realtor's® outline of what you can expect  to be done - From photos to video/drone work, newspaper ads, open house schedules, etc. Additionally, getting this agreement done allows your property to be posted on the MLS (Multiple Listing Service), which allows all realtors to find it and share with their clients. Once it is on the MLS the property can also be shared on the various other websites for Realtor.ca, REW, Refin, Zillow, etc. where the public can see it on their own online searches.

Closing

After you and your Realtor go through the process of putting together your plan and executing it, the hope/goal is to have an offer or even a few on the table, which will all be communicated to you. Once you’ve accepted the offer that suits your expectations, your buyer may  have included a few subjects/conditions that need to be done(ex. home inspection, financing approval) and can often come along with negotiation due to unseen cost of repairs at the time of initial offer. Once that is all ironed out, and subjects are removed your Realtor® will suggest a lawyer/notary to complete the paperwork and legal details needed to close the deal and transfer the title to the new owners.
At that point the sale of your home is done, and you can now begin looking for your next place.