Selling my Kamloops Home

Selling Your Kamloops Real Estate

Homeowners don't generally think about filling the shoes of a first-time home seller until they decide to buy a new home. Usually, the motivating factor is the need to move -- due to work-related issues or the needs of a growing family -- and that generally involves buying another house.

Before you begin the selling process, really evaluate why you’re moving. Do you have too few rooms, or too many? Has your job moved to another city and you’re relocating? Are the neighbours driving you away? Or are you simply looking for a change? A complete analysis of your current position will set a good foundation for your next home hunt.  The questions will be coming thick and fast, when is the Best Time to Sell Your Home? What are the costs involved? Buy or sell first? 

The following is good advice for all sellers, feel free to read through the information below and don't forget to read Danielle's testimonials from past clients.

1. Choosing a REALTOR^®

Selling your home isn’t a simple procedure. It involves large sums of money, stringent legal requirements and the potential for costly mistakes. A REALTOR^® will spend the time it takes to help you sell your home in the least amount of time and for the best possible price.

READ: QUESTIONS TO ASK A REALTOR
READ: MISTAKES TO AVOID WHEN SELLING YOUR HOME

Start by finding REALTORS^® in your city by using CREA’s handy search tool. Then, talk to some of them and compare their services. It’s important that you’re comfortable and confident with the agent you choose. CLICK HERE to contact Danielle and arrange a meeting.

2. The Listing Agreement

A Listing Agreement is a contract between you and your agent’s brokerage company. It provides a framework for subsequent forms and negotiations. It's important the agreement accurately reflects your property details and clearly spells out the rights and obligations of all parties. 

Generally, in the agreement you appoint the brokerage company as your agent and give its representatives the authority to find a purchaser for your home. The Listing Agreement will outline:

• The duration of the agreement;
• Your REALTOR’s^® compensation
• The listing price and an accurate description of the property; 
• Financial conditions of the property, including the mortgage balance, mortgage monthly payments and the mortgage due date;
• Information about annual property taxes; and
• Any easements, rights of way, liens or charges against the property.

Disclosure

Ask your listing REALTOR^® about disclosure, which is a seller's obligation to disclose facts about properties for sale. The buyers will need to know material facts about the property; that is, anything that could materially affect the sale price or influence a buyer's decision to buy it. A major cause of post-sale disputes and lawsuits relate to defects and disclosure, but most disputes can be avoided if proper disclosures are made. Intentionally withholding information about a property when selling it can have serious legal consequences.

3. Setting Your Price

How much should you ask for? Although you may have an idea of how much your house is worth, it's important to have your home valued on its own merits by a professional. Be careful not to price your property too high or too low. If it's too high, there's no sale; too low and you lose on your investment.

READ: HOW TO ESTABLISH AN ASKING PRICE FOR YOUR HOME

A REALTOR^® has the information and expertise to assess at what prices similar properties in your area have sold, and may be able to help you in this regard. She can also provide information on market history, such as the number of properties sold in your community the previous month or year.

CLICK HERE to request a free market evaluation of your home with Danielle

4. Listing and Marketing Your Property

If your listing is an MLS^® listing, your REALTOR^® will place your listing on a real estate board’s MLS^® System. Through the board’s MLS^® System, all other REALTORS^® that are members of that board can find and view information about your property, and all have the opportunity to sell your property. Your property gains more exposure, because it reaches the majority of the real estate professionals in your community. And through REALTOR.ca, the national property website that gets more than a million unique visitors per month, your property is advertised to potential buyers across Canada and around the world.

Open Houses

Your REALTOR^® may recommend an open house. There are two types. First is an agent's open house, where sales representatives from the listing company will be invited to view your house. Each of these REALTORS^® may have a prospective buyer. 

The second type of is a public open house, where members of the public are invited to walk view your home. It's an efficient way to show your home to many potential buyers at once. Your agent will act as host, answering any questions.

5. Waiting For the Right Opportunity

Sometimes a home doesn't sell right away. Avoid the urge to pull your home off the market. Be persistent! Generally, there are three reasons why a home may not sell as fast as others: location; condition; and asking price.

Obviously, you can't change your home's location. However, you can improve the condition of your home and you can, of course, adjust your price. Throughout the listing process, you need to be constantly comparing your asking price against those of similar properties in your area. Review your selling strategy regularly with your listing agent, who may help you answer the following questions: 

• Is your house being shown regularly? 
• Are you receiving the feedback from prospective buyers? 
• Are you in touch with the marketplace? 
• Is your property competing well? If not, what else can you do?

6. Accepting an Offer

(The comments contained on this page are for informational purposes only and do not constitute legal advice.)