The Edmonton Home Sellers' Guide
When it comes time to sell a home, the list of things to consider can get quite long. Do you want to use a real estate agent or not? How much do you list your house for? Is it best to wait until you've found a new home before selling your old one?
Not to mention all the contracts, home inspections, and open houses to wade through. Selling on your own is a whole other challenge, particularly when the market favours the buyer. With a real estate professional, there's someone to pave the way through all those challenges — someone who can get you the best price for your home while doing all the heavy lifting.
Why Choose A Real Estate Professional
Time and time again, people take the plunge at selling their homes themselves. Often times they do so because they want to avoid paying commission to an agent. However, the For Sale by Owner path is a treacherous one. Stress, losing money on the sale, and confusing contracts are just some of the bumps owners can hit along the way.
Would you trust your neighbour to replace your car engine? Unless they’re a professional mechanic, chances are you wouldn't risk it. You’re probably more likely to take it to the shop with a good reputation and the expertise to get the job done right. We’re almost always comfortable letting the professionals handle such major jobs, yet some sellers are still hesitant about hiring an agent.
There seems to be a misinterpretation that real estate agents simply set up For Sale signs on lawns, print out standard contracts, and collect on their commission. If that were the case, then it would be quite obvious that selling on your own would be the route to take. Unfortunately, there’s so much behind-the-scenes action in selling a house that makes it much more difficult than it appears.
Many sellers aren't aware of all the factors that go into a sale. Our Edmonton real estate agents are equipped to walk you through each step of selling your house. We'll take you through setting a sale price on your home, marketing the property and listing, and negotiating contracts with buyers.
How to Set the Listing Price
When was the last time you did any major renovations on your home? Have you scheduled a home inspection to determine if repairs need to be done? What's your home's current worth? Will you be able to make a profit from your sale and be able to buy a new home? Or will you break even? Your sale price is determined by all of these factors and more.
The real estate market ebbs and flows. Think back to five years ago: how different was the market then? You need to know what your house is worth today. By looking at similar houses near yours, their listing prices, and what they're actually selling for, you can start to get an idea of what your home is worth. Just how much will buyers pay for your home? That number is your home's value.
Renovations can add value to a house, so you need to find out if any improvements you've made were worth it. Make sure to look at each repair and renovation individually, as each one will impact your home's value in a different way.
Everyone has different goals when selling. Do you need to make a profit or do you want to break even? Can you keep this house on the market for a while? Do you plan on buying your next home right away? Questions like this will help you figure out what the baseline listing price would be, and also what your ideal price would be.
This is where an agent comes into play. We know how to look into these questions to determine the price, particularly by looking at your financial needs, carrying out a comparative market analysis (CMA), and factoring in renovations and upgrades. We can look at your home through an objective lens and evaluate it based on our wealth of experience in the Edmonton real estate market. As agents, we keep our eyes on the market every day, so we know which little details will impact the value of your home.
Want to get a leg up on determining your home's worth? Use our home evaluation tool today to get a free comparative market analysis.
How To Market Your Home
Determining the price is just the first step. Marketing your home comes next. Classic approaches to advertising —such as yard signs, print ads, and opens houses—are still great ways of attracting buyers, and those will be easy to put into place. Our next goal though, is to get as much of an online presence for your property as possible. According to recent statistics, more than 94% of home buyers are searching the Internet for their next home. To reach the largest market possible, your home needs to be listed on the Edmonton Real Estate Board’s MLS® System and featured on realty websites. What's even better is to have it featured on the #1 real estate website in the area, EdmontonRealEstate.ca.
With your go ahead, we'll start by listing your home on the Edmonton Real Estate Board's MLS® System. We'll then advertise your home on reputable websites (including our site) to get your home as much web traffic as possible. High resolution photos and virtual tours will be included in our posts, and we'll make sure to share the details with other Edmonton agents. To showcase your home even further, we can list it as a Featured Listing on our site. Along the way, we'll give you tailored home staging tips and suggest repairs to improve your home's value.
How To Negotiate The Sale
Now that you've enticed a buyer, you'll need to negotiate the offer of purchase. Not only will you need to consider the final sale price, but you'll also need to give special consideration to the contingencies. If you've chosen to sell on your own, take a good look at the purchase offer. If you have even the smallest doubt, consult a real estate lawyer prior to signing.
This is where a real estate agent can be an essential asset in the process of selling your home. We can suggest which contingencies to take and which to turn down, as well as provide advice on adding your own contingencies. We want the offer to benefit you.
Where To Go Next
Closing the sale doesn't mean it's all over just yet. We're more than happy to recommend professionals, such as moving companies, to help make your move easier. And if you're ready to venture into new real estate territory, we'll be there to help you buy your next home.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.