Tag: sell your home

Just as not all traditional, full-service, real estate brokerages are the same, neither are discount brokerages. And while discount brokerages may have some negative misconceptions surrounding them, here’s why hiring a real estate agent from a discount brokerage can be a great idea:

Top Performing Realtors

Most realtors, whether they work at a traditional, full-service brokerage or at a discount brokerage, work hard to become the top of their field. The services they can provide are exactly the same and include some of the following:

• They’ll do a free market evaluation to assess the value of your home and determine what they believe the home will sell for.
• They’ll list your home on the MLS ® system to maximize exposure to thousands of potential buyers.
• They’ll prepare the paperwork, receive offers from other Buyer agents and present them to you for consideration.
• They’ll walk you through the process and answer any questions you may have.
• Many can refer you to ancillary professionals such as lawyers, home inspectors or mortgage professionals.
• They’ll work with you throughout the closing and conveyancing of the property to ensure a smooth transition.

They Have The Same Mandates

Your real estate agent has to follow the same set of rules and ethics regardless of what type of brokerage they work with. All real estate professionals are governed by the same body – the BC Financial Services Authority (BCFSA) and the high standards of conduct are consistent across the board.

Loyalty to their clients is of the utmost importance and they are required to maintain your confidentiality at all times – even after the sale or purchase of your home is complete.

Your real estate agent will, and must, follow all of your lawful instructions regardless of whether or not they agree with them.

Your real estate agent has your best interest in mind at all times. They will provide input, guidance, and recommendations to assist you in making the best, biggest decision you’ll likely ever make.

The education and training real estate professionals receive are exactly the same across the province. Where they work doesn’t change the requirements of the real estate Rules and Regulations so you can be assured that a realtor working with a discount brokerage is trained to the same high level as at a traditional brokerage.

Where They Differ

The difference between the two types of brokerages comes down to a financial one. At a discount brokerage, you can receive the same high level of service as at another brokerage, but at a much lower rate of commission.

Discount brokerages can save the seller thousands of dollars by reducing the amount of commission they take. This could be based on a percentage, or as a flat fee but either way, the seller will have some extra money in their pocket at the end of the transaction to use for any other purpose they choose.

Some discount brokerages also offer incentives to buyers. Since the buyer’s agent will receive their “normal” commission, they may offer a cashback percentage to the buyer as an incentive to hire the brokerage. This could be as much as 25 or 50% of the buyer agents’ commission depending on the level of service required from them.

Whichever way you decide to go, always do your homework, research the agent and company you are considering, and don’t be afraid to ask questions or read the fine print. You may just decide a discount brokerage is right for you.

We all like to think our home is the best one in the neighborhood and we can get the highest price out there. To improve your chances of succeeding in this, here are some steps to follow:

1. Clean up.

Although it can be time-consuming, make sure your home is clean and tidy at all times. Potential buyers can pop up at a moment’s notice so you want to make sure your home is presentable. Get rid of the dust bunnies, wipe the dirty fingerprints off the walls and vacuum the floors. Make sure the bathrooms are spotless as this can turn off a buyer in an instant. If you have pets, deodorize the house and consider having the carpets professionally cleaned. This small expense goes a long way to show you care for the home and reduces the pet odors that may linger in the home.

2. De-clutter and de-personalize.

Organize the kid’s toys into a confined space instead of all over the house. Put away most of the family pictures. You want buyers to visualize themselves in the home so putting away personal items allows them to see the home as a place they can put down roots. You’re going to be moving anyway, so pack away some of the family heirlooms and mementos ahead of time. Your home will look less cluttered and more spacious.

3. Make repairs.

We all bang up a wall on occasion. Patch the drywall, if necessary, and touch up any paint spots that are obvious. If something is broken, fix it. You don’t want a faulty closet door falling off when someone opens it and you don’t want someone tripping over a loose threshold. If you are in the middle of a repair or are updating something, let your real estate professional know so they can pass the information on to potential buyers.

4. Curb appeal.

The first thing people see when they come to view the property is the front yard and the front of the house. Make sure the grass is cut, the flower beds are weeded and tidy and the sidewalk is clean and free of clutter. Clean the exterior of the home and make sure the windows sparkle. If it’s winter, make sure you have cleared any snow and ice from the walkways around the house and put down salt or ice-melter if needed.

5.Tidy the garage.

If, like a lot of people, your garage is more for storage than for parking your vehicles, make sure you keep it clean and organized. Put away as much as you can so people can at least walk through it to get an idea of the size. It’s hard to determine if a vehicle can fit into a garage that is overflowing with tools, equipment, boxes, and storage containers, so at a minimum, make sure there is a clear pathway through it all.

Your chances of finding a great buyer will improve if you follow these tips. Your home doesn’t have to be the most modern one on the block, but if you keep it clean and organized, the pride you have in the home will shine through and buyers will be more likely to make an offer for top dollar!

If you’re planning on selling your home but don’t want to pay real estate commissions, which can often be $10,000, $20,000, $30,000, or even more, you may want to consider For Sale By Owner (FSBO).

If you’ve never sold a home this way, it can be a complex process and you may have a lot to learn. Following are some tips to get started:

1-Do Your Homework.

Before you put a sign on the front lawn, you need to know what the value of your home is so you can price it appropriately. You can obtain an appraisal from a certified home appraiser, or you can watch what’s happening in your neighborhood with homes similar to yours. You can also get a free, no-obligation, home evaluation from most area real estate professionals. Whichever method works best for you, make sure you are comfortable with the price you set and don’t overshoot by setting an unrealistic price.

2-Presentation Is Key.

Curb appeal and the overall presentation of your home are vitally important. Clean it, tidy it, paint it or repair it. Think about what work needs to be done to improve how your home will be perceived by potential buyers. If the front yard is overgrown and messy, some buyers will just walk away, so clean it up and mow the lawn. If the inside of the home is in disrepair or needs a good cleaning, you’ll lose some potential buyers the minute they walk inside. You don’t have to spend thousands of dollars to update your home, but it should be clean and tidy and free of any mess or clutter.

3-List The Property On Websites.

Once the home is ready for sale and you’re happy with the price you’ve determined to list it at, get the property listed on as many websites as possible. FSBO, Zillow, and even the MLS system in some regions will allow you to list your property for a small fee. Using the MLS system will expose the home to unlimited potential buyers. Research the sites most appropriate for your area and get your home in front of as many buyers as possible.

4-Understand The Rules In Your Area.

Different regions have different rules for disclosing information about the property. Check with your local real estate authorities to find out exactly how much of the home’s history, issues, or defects you need to disclose to potential buyers. This can save you a lot of time and money down the road if you’re upfront and honest with potential buyers right from the start.

5-Financing.

Don’t be afraid to ask potential buyers how they plan to finance the home. Will they be paying cash? Will they be obtaining a mortgage? Have they been pre-approved for a mortgage? How much of a deposit can they make? Hopefully, potential buyers will have already secured a mortgage pre-approval before viewing your home so there are no delays or potential lost sales because they can’t qualify for financing after making an offer. Consider making the deposit non-refundable so the buyer is more likely to complete the sale rather than losing a large deposit.

6-Hire A Lawyer

Saving money on commissions is great, but make sure you hire a lawyer or notary who can assist you with all of the paperwork and conveyancing for the property. You need someone experienced in real estate transactions so they can dot the I’s and cross the T’s, ensuring a smooth transfer of ownership.

If you’re comfortable handling the sale of your home on your own, then For Sale By Owner may be right for you. It will take some time, energy, and effort but if you are successful in selling the home and moving on to the next chapter, you can feel good about the process and your achievement!