Selling a Home
Decide When to Sell:
Seller’s market
When lots of people are looking for homes but not many are for sale.
Buyer’s market
When there are lots of homes for sale and not many people buying them.
Seasonality
This refers to the fact winter sales tend to be slower in most markets while spring sales typically speed up.
Managing Your Money
Before the offers start rolling in, be prepared for the large amounts of money that will pass through your hands. However, don’t forget to take these things into consideration.
Always consult a professional financial advisor before making personal financial decisions. Meet a REALTOR® Who’s Right For You. Don’t simply go with the first REALTOR® who suggests the highest asking price. Ask around, talk to a few, and you’ll soon find the one that’s right for you.
The REALTOR® you’ve used before
Sticking with a REALTOR® you know makes sense. If your REALTOR® did a good job helping you buy your home, he or she is probably a good candidate for helping you sell it.
Think local
Write down the names and numbers of REALTORS® on for sale signs. Ask friends or family to recommend a REALTOR®. Visit one of the local real estate offices in your area.
Sign a Listing Agreement
Signing a listing agreement officially gives your REALTOR® the green light to start selling your home. The agreement serves three main purposes:
- It defines your relationship, including the limits of your REALTOR®’s authority.
- It provides detailed information about your home which can be placed on a real estate board’s MLS® System.
It forms the basis for drafting offers on your home.
Highlights of the Listing Agreement
| Authority
This describes the legal relationship between you and the real estate brokerage and sets a time limit for the REALTOR® to sell your home. Exclusive vs. Multiple Listing Service® An exclusive listing states only your brokerage can find a buyer for your home. Most REALTORS® recommend a multiple listing, which allows them to put your home on a real estate board’s MLS® System—a powerful tool that will allow your listing to be marketed to potential buyers. |
Price
Your REALTOR® will have very useful advice on what price will attract buyers.
Real estate commission
This may be a flat fee or a percentage of the final sale price.
Legal information
This includes the lot number, land surveys and the zoning code.
Financial information
Let potential buyers know the minimum deposit you require.
Completion date
The amount of time you need to move out once your home is sold. Typically, homeowners provide 60 to 90 days. Being flexible may help sell your home faster.
How the home will be shown
Your REALTOR® can arrange viewing appointments and open houses. Any specific instructions, such as, “make sure the cat stays in” can also be noted.
What’s included in the price?
Chattels are moveable items like microwaves and window blinds. They’re not automatically included in the sale, but sellers will often include them to sweeten the deal.
Fixtures are permanent improvements to a property like central air conditioning, installed lighting and wall-to-wall carpeting. Fixtures are assumed to be included in the sale of the home.
