Retaining the services of a real estate broker usually involves a series of key steps that should help maximize your chances of achieving a quick sale.
These steps also ensure that the process proceeds smoothly as well as protect the sellers and buyers during the transaction.
Choosing a Broker
The first step of the process consists in selecting a real estate broker who can provide information and guidance during your property’s sale, all while continuously acting in your best interests and with your needs in mind.
Tip: Meeting with several professionals before making a final decision is recommended.
Evaluating the Property
The second step is evaluating the residence. To estimate your home’s value, the broker performs a comparative analysis of the market based on recent sales of similar houses in the neighbourhood.
Tip: Prepare all necessary documents: the certificate of location, your bill of sale, bills proving the costs of renovations and repairs and any other relevant documents that may assist in evaluating the property’s value (septic systems, water supply, etc.).
Signing the Brokerage Contract
Once the residence’s value has been determined, the homeowner signs a brokerage contract with the real estate broker. This contract lays out the partnership’s terms, including its duration and the broker’s compensation.
Tip: Carefully read the contract and make sure you understand all the terms before you sign.
Preparing the Residence
The time has now come to show your home in its best possible light. Consider carrying out some improvements to make it all the more appealing to buyers. This could include minor repairs and some home staging such as revamping the master bedroom into an even cozier space. In any case, before photos are snapped and visitors start knocking on the door, the entire house must be thoroughly cleaned.
Listing the Property
When the first stages of the sales process have been completed, the broker can start marketing the house. This includes writing up the property listing, taking high-quality photos as well as posting the listing on various platforms (Centris, social media, websites, etc.).
Tip: Be flexible when it comes to scheduling visits to accommodate as many potential buyers as possible. Additionally, share your home’s listing with your friends and family!
Organizing Visits
The broker receives calls and emails from prospective buyers and arranges visits with the owner. During these, the broker collects feedback from visitors and adjusts their sales strategy, if necessary. For example, your broker may recommend that you lower your sale price because many people have expressed disappointment about the state of the kitchen.
Tip: Make sure that your home is always clean and welcoming before every visit.
Receiving Promises to Purchase
The broker helps you analyze promises to purchase as they’re submitted. They explain the conditions stipulated in each promise to purchase and advise you on the best strategy to adopt, whether it’s accepting, refusing or proposing a counter-offer.
Tip: Be ready to negotiate and compromise if you want to reach a satisfactory agreement.
Having the Home Inspected
Have you accepted a promise to purchase? With some exceptions, this promise to purchase is subject to a pre-purchase inspection. The buyer will organize an inspection of the home, to be conducted by a qualified professional, to guarantee that the property is in good condition and that the agreed-upon price is fair.
Tip: When signing the brokerage contract with your broker, be honest about the state of your residence and provide all supporting documents relating to its maintenance and any repairs it has undergone.
Closing the Sale
Finally, when concluding the sale, the parties sign the final documents before the notary and the property is transferred to the buyer. The broker makes certain every administrative task has been fully and correctly completed.
By working with a real estate broker to sell a home, you can benefit from their expertise and their network, stacking the odds of realizing a quick sale and getting the best price in your favour. As a real estate professional, a broker likewise acts as a reassuring presence throughout this sometime stressful process!