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.

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.

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.

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.