Step 1: Get Ready to Sell

  • It is recommended that you should do a little research to find out which market you about to enter before you consider to sell your property such as a Seller market or a Buyer market.
  • You should visit your accountant to find out what your financial discharge would be and all other taxes related matter to the sale of your property.
  • Once you gather all the necessary information, you now can make an inform decision to list your property and this is the step where a realtor you about to hire comes in place.

Step 2: List Your Property

  • Your realtor will do use all the tools that are available to them exclusively to determine the price of your property. The price of your property is an approximate price range and it depends on the market conditions.
  • There are two things as the owner which you should keep in mind about pricing your property as below:
    1. If you price too low, you might lose out thousands of dollars
    2. If you price too high, you scare the buyers away and is less people want to see your property.
  • Sign a listing agreement, your realtor will go over the main key points on the listing contract with you. The following are some main key points:
    1. Listing representation relationship between the realtor and the realtor’s brokerage and how it works.
    2. To list your property to the Multiple Listing Service (MLS) or Exclusive.
    3. How much the commission you are going to pay for a successful sale and how the commission is going to split if there is another realtor involved.
    4. How long the listing should be?
    5. Taking property disclosure statement, photos, videos and when should the open house be, what includes in the price and how you want to property to be shown, let the buyers know what the minimum deposit requirement.

Step 3: Market Your Home

  • Your realtor will use their tools and online platform to maximize the visibility and draw online traffic to your home.
  • Also, he/she will use their network to advertise your listing.
  • Open house is where the potential buyers want to view and get the feel for your home.

Step 4: Getting offer

  • Once you receive offers from the Buyers, your realtor will go over the price, terms and conditions of the offer with you. Or you can hire a lawyer who will review it before you accept or reject the offer.
  • There are three things going to happen:
    1. Accept the offer: If the price is what you hope for, the date and conditions are in your favor.
    2. Counter the offer: If the offer is close but it is not close enough to what you hope for in terms of the price, conditions and/or date does not look good, then you can counter the offer. This is the time your realtor will use their negotiation skill to get the maximum value of your home, the terms and conditions/date that you want.
    3. Reject the offer: If the offer is too far apart, then you don’t need to counter the offer.

Keep this mind, a successful transaction is when the negotiation leaves both Seller and Buyer feeling satisfied with the outcome.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.