Office: 165 Pretoria Avenue, Ottawa ON. K1S 1X1
Once you have decided to sell your property, the first thing is to list your property – establishing with your REALTOR® the terms and conditions of the sale.
What is involved with the signing of a listing agreement?
The listing agreement is a contract between you and your REALTOR’S® brokerage company. It will:
The agreement binds both parties to its terms and conditions. You and the listing REALTOR sign the listing agreement and each of you receives a copy.
Your Royal LePage REALTOR® may also ask for:
What kind of questions should I ask a potential REALTOR about listing my property?
Can the REALTOR that helps me list my house represent me when I buy my next one?
In most cases, the answer is yes. Ask your REALTOR® to explain the concept of agency and how it works in your province. Be sure to ask what limitations, if any, your representation will have.
What happens when my listing REALTOR® is not available?
REALTORs® work extremely long hours and try to be available whenever and wherever you need them. But you should ask your prospective REALTOR® what arrangements he or she has in place when they can’t meet with you.
What would you tell a buyer considering my home?
A good REALTOR® will quickly spot your home’s best features and tell you the best way to showcase them. Be sure you’re comfortable with the way your house will be presented.
What do you think is the key to selling a home: advertising, Internet exposure, or promotion to other REALTORs®?
Since the success of the listing REALTOR’s® marketing plan will be based on how to attract prospective buyers, be sure you understand and agree with the approach.
What sold the last three properties you listed?
REALTORs® should be able to explain how they have sold properties in the past, and how these experiences can influence your sale.
What advice would you give a buyer considering my home?
Do you want top dollar for your home, or as many offers as quickly as possible? Make sure you know and agree with the way your home will be framed for buyers and their selling REALTORs®.
What distinguishes your personal service from other REALTORs®?
The number one complaint from both homebuyers and sellers is that REALTORs® don’t return their phone calls. Listen carefully when prospective REALTORs® describe their communication skills.
You’ve spoken to several REALTORs®, and it’s time to make a choice. Think about what they told you, and ask yourself:
How will you market my property for sale?
Your Royal LePage REALTOR® will develop a detailed marketing plan that will give your property the maximum exposure and attention it deserves.
When you list with a Royal LePage REALTOR® you will:
How does my Royal LePage REALTOR® help me manage my offers?
A buyer interested in purchasing your property will make an offer and, as an act of good faith, put down a deposit.
The buyer’s Realtor communicates the offer, sometimes known as an Offer to Purchase (a legal document specifying the offers terms and conditions) to you or your representative. The offer states how much the buyer is willing to pay and details the conditions.
The offer can be firm or conditional.
Firm Offer to Purchase: Usually preferable to the seller, because it means that the buyer will purchase the home without any conditions. If the offer is accepted, the house is sold.
Conditional Offer to Purchase: Means the buyer has placed one or more conditions on the purchase, such as subject to home inspection, subject to financing, or subject to the sale of buyer’s existing home. The home is not sold until all the conditions have been met. The seller can accept the offer, reject the offer, or make a counter offer.
Acceptance: The seller agrees to all the terms and conditions exactly as set forth in the Offer to Purchase.
Rejection: The seller does not agree with any of the terms and conditions set forth in the Offer to Purchase.
Counter offer: The seller agrees with some of the terms and conditions of the offer, but not all of them. The seller then makes a counter offer. The counter offer may change the price, the closing date, or add or delete conditions. When the buyer receives the counter offer, he or she can accept the new terms and conditions or reject them.
A signed offer is a binding contract. Make sure you understand and agree to all of the terms before you sign. You may want to have a lawyer review the offer first.