Have you come to a decision to sell your home? Enlisting the assistance of a Realtor is always a good move. It can be confusing to try to understand everything that’s involved in a real estate transaction, so it’s good to know what questions to ask your Realtor. Here are five of the most important.
- What services can I expect?
Your Realtor provides a range of services, all focused on selling your home for the best price possible. This includes taking photos or videos of your property, writing a clear and compelling description and profiling your home on the Multiple Listing System (MLS) for maximum exposure to potential buyers and other agents. Your Realtor may also recommend additional services such as having your home pre-inspected.
- Who decides the list price?
Basically, you decide what you want to list your home for. You might be asking: How do I know what my home is worth on the market? This is one of the invaluable services that a Realtor provides. Years of training and experience gives them the expertise required to advise you on an appropriate listing price. Furthermore, they have their finger on the pulse of the local housing market and know what homes like yours are selling for.
- How does commission work?
In most large cities commission is 5% to 6% of the selling price. However, in Calgary a different approach is used where some of the fees are 7% of the first $100,000 and 3% of the balance. The commission is then split between your Realtor and the buyer’s agent. Keep in mind that this is based on the price that the home sells for so it could certainly be higher or lower than the listing price.
- If a buyer or their agent contacts me directly, what do I do?
Refer any independent inquires to your Realtor. You hired them to represent you and they will have your best interests at heart. What’s more, you don’t want to inadvertently be responding to questions without your Realtor’s guidance.
- What happens if my home doesn’t sell?
When you hired your Realtor, you would have signed a listing agreement for them to represent you in selling your home for a set time period. Typically, a contract is from two to six months long and is legally-binding for the duration. If your home doesn’t sell within that time you have the option to renew the listing agreement, list with another agent or take your home off the market and try again later.
This discussion has probably already sparked additional questions for you. So, how can I help? Remember, I’m never too busy to take your calls!
This discussion has probably already sparked additional questions for you. So, how can I help? Remember, I’m never too busy to take your calls!
