1. Is there a “good time” to put my house on the market?
The best time to put your house on the market is when you’re ready to sell your home. There’s no better time than the present, and all it takes is one Buyer looking for a home like yours to get it sold.
2. How should I prepare my home for a showing?
When you list your property for sale with us, we’ll go through every step to make sure you’re ready for showings. We’ll provide you with a checklist, and give you tips on what items can stay out and what should be put away.
3. We work during the day and have pets at home. How do we accommodate showings?
That will depend entirely on you, your comfort level, and the type of pet you have (i.e. large dogs, snakes, birds, etc.). Ideally if you can have all your pets removed for the duration of the showing, that’d be the best. However we understand that’s not always possible. We’ll do our best to coordinate showings around your schedule so as to not disturb your furry friends.
4. How long are the listing contracts for?
This will vary from property to property, however our contracts typically range from 3-6 months in length.
5. Can we try listing at a higher price now, and then drop the price if it doesn’t sell?
This is the #1 mistake most Sellers make and it usually results in homes being on the market for much longer than anticipated. Sellers will make small incremental price drops and chase the market down until eventually… they sell for a much lower price than originally planned. The better answer to this question though is NO! But… there are exceptions to this rule depending on the Seller’s situation. If you find yourself in this unenviable position, rip the band-aid, stop the bleeding, drop your price, and you’ll move on much quicker than your neighbors.
6. What if I change my mind and decide I don’t want to sell. Can I cancel my listing?
Absolutely! You can cancel your contract with us at any time.
7. What’s an RPR with Compliance, and do we need one to sell our home?
Ideally yes. An RPR is a Real Property Report, which is a survey diagram of your land and everything that is affixed to that land (i.e. house, deck, garage, fence, etc.). Compliance refers to a letter (or a stamp) from your municipality indicating whether or not everything that is affixed to that land complies with their current bylaws & regulations.
8. Do I need a lawyer to sell my home?
We highly recommend it. A lawyer will review all the documents, protect your interests within the contract, and ensure that your sale is completed properly.
9. What other costs should I expect to encounter when selling a home?
Here’s a list of most of the costs you can expect: obtaining a real property report with compliance (or title insurance, depending on your scenario), property taxes paid up to your possession, legal fees, REALTOR® commissions, and moving costs. If you own a condominium, then you’ll need to provide the buyer with current condo documents from the management company as well.
10. How long should I expect my home to be on the market for?
That… is a loaded question, AND it depends on a number of factors. Ideally, we would love nothing more than to sell your property in less than 30 days. Realistically though, we know that’s likely not the case. Days on market will vary substantially depending on a number of factors: pricing, location, staging, availability of showings, cleanliness, the state of the market itself, etc.
11. What is a Seller’s market?
A Seller’s market is classified as having more Buyers available to purchase properties than there are homes available for sale. Inventory is generally low, and often in these cases you’ll find multiple offer scenarios where there’ll be a number of Buyers “bidding” on a property hoping to be the lucky purchaser. It’s not uncommon to see homes sell for more than what they’re listed for.
12. Do you do Open Houses? Are they useful?
Yes, we certainly host Open Houses. Our best success in selling homes is done by way of Broker Open Houses. This is where we showcase your home specifically to other local REALTORS® in the area. You’d be surprised to know how many properties we’ve sold to Buyers because their REALTORS® saw your home during our Open House!
13. What are Dower Rights?
If there is only ONE registered owner of a property (i.e. only one person is registered on title), Dower Rights will apply if: 1) you are legally married (includes separated but not legally divorced), AND 2) either you or your spouse has resided on the property at any time since your marriage.
What this means is that if Dower applies, your spouse has equal rights to the property in question, and you will need their permission to sell it.
14. Can I back out of contract with one Buyer to accept a new higher offer from a second Buyer?
No! If you’re in a legally binding contract with a Buyer (regardless of whether or not the offer is conditional), you’ll be obligated to complete the contract with that Buyer, unless you have a Seller’s condition in place allowing you to back out of that offer.
15. Who is responsible for repairs as a result of the Buyer’s home inspection?
This depends on the severity of the issue(s) found, what the Buyer is requesting to be fixed, and what the Seller will agree to fix. And of course, this will vary from case to case. Some issues might be quick and relatively inexpensive to repair, whereas others may require the assistance of 3rd party professionals.
16. We’re getting transferred to another City. Can you help us find a REALTOR® in that area?
You bet! We’re part of an exclusive mastermind group of top-producing REALTORS® across Canada. Subsequently, we have high level contacts across the country that can help you find a home. And should you be relocated to the US or overseas, we can help find you a REALTOR® there as well.
17. Is there really a difference between a REALTOR® and a LOCAL REALTOR®?
Believe it or not, there is. A local REALTOR® is one that lives, works, and breathes the “local” area. They know the “ins & outs” of local development, coming attractions, and areas to buy in (or stay out of). They attend local events, are invited to Broker Opens, and network with other local businesses. They pay local taxes, buy local groceries, and they have a vested interest in seeing their local community succeed. A local REALTOR® knows the area better than their competition, thus making them market experts.
A REALTOR® on the other hand, while they may have knowledge of the general area or inventory in a neighbourhood, might not necessarily have all the “ins & outs” that you’re specifically looking for. They may work in a designated area, but they’ll reside in another (or vice versa).