Selling a house can be an exciting experience--and one of the largest financial transactions you'll make in your lifetime. By educating yourself on the home selling process and seeking out sound advice from professional Realtors like ourselves, you'll save time, energy and money.
Sell first or buy first?
Whether you decide to buy first or sell and then buy will depend mostly on your personal comfort level. There are pros and cons to both. Ideally, if you have already sold your home you will have more leverage when you make an offer on your new home.
If you make an offer subject to the sale of your own home, the Seller may accept your offer but you may be "bumped" if another more acceptable offer is received by the Seller. This is called invoking the time clause which may be as short as 24 hours, in which case you would have 24 hours to sell your home and/or remove all conditions from your offer to avoid losing your new home to the second Buyer.
If you sell first, you will have more negotiating power but also risk having to move twice if you don't find a new home you like. Usually, we can negotiate the sale of your property with a 60-90 day closing, giving you ample time to find a new home. We will help you with the timing in order to make your move as smooth and hassle free as possible.
Your relationship with your Realtor
Realtors work within a legal relationship called "agency". The agency relationship is between you, the client, and the company with which your Realtor is licensed. It is a requirement for Realtors to disclose to clients the representation you will be receiving. This disclosure is usually done with the aid of a brochure entitled Working with a Real Estate Agent. Signing the brochure does not obligate you in any way.
As a Seller's agent, we will:
Prepare a comparative market analysis and advise you on your home's market value.
List your house through the Multiple Listing Service (MLS®), a database of properties for sale that all Realtors can access.
Advertise your home, hold open houses and show your house.
Advise you on offers you receive.
Negotiate the sales contract.
Understanding Real Estate Agency Relationships:
Buying or selling a home may be the most important financial transaction you'll ever make. So it's a good idea to take a moment and consider the kind of relationship you will be entering into with a Realtor.
Realtors work within a legal relationship called agency. The agency relationship is established through a contract between you, the client, and Re/Max Select Properties, the company under which we are licensed. We will provide you with a blue brochure titled Working with a Real Estate Agent which officially discloses the nature of the agency relationship.
As Realtors, we can act for a seller or a buyer, or to a limited degree, both. Whomever we represent, we have a legal obligation to uphold the integrity of our clients, while protecting and promoting your interests.
Realtors also commit to:
Protect the client's negotiating position at all times.
Provide undivided loyalty and keep the confidences of the client.
Adhere to a strict Code of Ethics and a high standard of practice.
Exercise reasonable care and skill in performing all assigned duties.
Be accountable for all money and property placed in the agent's hands while acting for the client.
As a seller, our professional marketing skills and networking connections can help in obtaining the maximum market value for your home. During negotiations, you can rely on us to represent your interests and provide advice on price, possession and closing date.
In order for us to list your property for sale on the Multiple Listing Service® (MLS®), the Real Estate Board of Greater Vancouver requires completion of a listing agreement. By signing the listing agreement with you, we are committed to uphold the obligations mentioned above. The listing agreement also states the amount of compensation that the seller will pay.
The buyer can benefit from agent representation, too. Our expert knowledge of the neighbourhood, future development plans, taxes, zoning, transportation, schools, and community services will help you select the property that meets your needs. By combining personal knowledge with research, we will be able to provide a comparison of similar properties and market statistics. We will also advise you on financing options and make recommendations of other professionals needed to complete the sale.
The contract of purchase and sale is initiated when an offer is made by the buyer to purchase the seller's property. The contract outlines the terms and conditions of the offer, such as offer price and any subject conditions. The seller may reject the offer or make a counter offer. Once all terms have been accepted and both the seller and the buyer have signed the contract, each party is legally bound to fulfill the conditions of the contract.
Dual agency is created when an agent represents both the buyer and a seller in a single transaction. This can happen if we are already representing a buyer who is interested in one of our own listings.
For an evaluation of your home, please fill in the form below. I will contact you with a report outlining other homes currently listed and recently sold that are similar to yours.