Home Sellers' Guide
Welcome to the Chris Penny Real Estate Team's Home Sellers' Guide, your best online resource for selling your home in Greater Sudbury, Ontario. Selling your home can be an overwhelming procedure, so we've created this step-by-step guide to help you move through the process. Here you'll find information on finding an agent, the listing agreement, marketing your home, and more.
If you're ready to get started on selling your home, contact us to speak with one of our professional agents. Below, you'll find valuable advice and information to help you start the home selling process.
Choosing a Real Estate Agent
Selling your home is a complicated procedure involving legal requirements, large sums of money, and the need for extensive marketing. A real estate agent can help make the process move smoothly, offering professional advice and working to sell your home quickly, and for the best price possible.
It’s important to make sure that you’re comfortable with your agent, and that he or she is a good fit for you and your home. A real estate agent who has experience and expertise in your neighbourhood is the ideal choice to help you in selling your home.
With professional and expert knowledge of the area and market, your agent will have the ability to provide buyers with information about the home and area, showcasing your property’s best features.
Before choosing an agent, interview your top picks, and make sure that you’re comfortable and confident in their ability to sell your home and neighbourhood.
The Listing Agreement
A listing agreement is a contract between you, the property owner, and your agent’s real estate brokerage. It gives your agent the authority to act as your representative in the sale of your home, and creates a framework for resultant forms and negotiations.
The Listing Agreement outlines a number of terms and conditions, including, but not limited to:
- The time period in which the agreement is active
- Compensation for your real estate agent
- The listing price and accurate information of your home
- Negotiation terms
- Financial terms and conditions
Setting Your Asking Price
It’s important that you are informed and educated about the current market and the value of other homes in your neighbourhood when setting your listing price. If the asking price is too high, you won’t sell your home, and if it’s too low, you could be losing out on a significant sum of money.
A real estate agent has the knowledge and expertise to assess your home’s value. Your agent will perform a comparative market analysis to look at what similar properties in your area have sold for, and provide you with valuable market information.
Preparing Your Home For Sale
When preparing to sell your home, it’s important to look at your property with a critical, buyer’s eye. Examine your home’s interior and exterior, and determine if there are any repairs needed.
Any small repairs that you can do yourself, or have done affordably can help sell your home. It can also save you money in the end, rather than having buyers negotiate repairs into the price of the home.
Marketing Your Home
Your real estate agent will ensure that your home is marketed through a variety of mediums, including yard signs, open houses, print advertising, listing through the board’s MLS® System, and online marketing methods.
Agents are also part of an extensive network of other agents who represent buyers in the market for a new home. Your agent will be in contact with other agents to make sure word of your home for sale spreads throughout that network.
Accepting an Offer
Buyers who are interested in purchasing your home will put in an offer through your agent, who will then review it with you to make sure you understand the terms and conditions. The offer will include the following:
- Buyer’s price
- Conditions that may apply (home inspection, survey, etc.)
- Desired date of possession
- Closing date
With the offer, the buyer will also make a deposit as a show of good faith. You aren’t required to accept the offer, and can make a counter offer for the buyer to review.
Once both parties have signed the offer, it becomes a legal contract, so make sure that you have covered everything with your agent, asked questions, and completely understand all the terms. You might even want to have your lawyer review the contract before you decide to sign it.
After you’ve signed the offer, both you and the buyer are legally obligated to close, and you’ve sold your home!