When it comes time to sell your home, the entire process can feel overwhelming, especially if it’s your first time. Between staging, listing at the right price, and negotiating with buyers, there’s a lot to consider.

At the Barnett Real Estate Team, our step-by-step home selling approach works to help make the entire home selling process as easy and stress-free for our clients as possible. However, to help ease any immediate worries you might already have, here are some frequently asked questions we get.

1) Do I pay the commission for the buyer’s agent?

Prior to selling your home, you will have agreed to and signed a listing agreement. This is a contract between you and the agent that outlines many aspects of the transaction, including the commission. It’s important to remember that the commission outlined in your listing agreement is split between your listing agent and the buyer’s agent. There is no extra commission deducted.

2) How should we price my home?

An informed pricing strategy is one of the most important components of a successful home sale. How you come to determine your pricing strategy depends on quite a few variables, however.

Ultimately your Realtor® should be able to advise you on the optimal pricing strategy for your home following a thorough home evaluation and Comparative Market Analysis of similar homes in your area. Whether your Realtor® suggests you enter the market below, at, or above your home’s current market value, it’s best to have faith in their pricing expertise and follow their lead.

3) What can I do to start preparing my home?

As a seller, there’s a lot you can do to help prepare your home before it’s listed on the market. While most major preparations are best left to the professionals, there are a lot of minor tasks you can take care of ahead of time.

Some examples include cleaning and decluttering your home inside and out, doing a little landscaping to boost your curb appeal, and completing any minor repairs.

To get a full run-down on pre-sale tasks you can complete as a seller, download our comprehensive seller’s guide here.

4) Does my home really need to be staged?

Staging your home with a professional is one of the most effective ways to increase the appeal of your home to potential buyers. By using proven staging techniques, professional stagers are able to (among many other things):

• Make your home appear larger and brighter
• Improve visitor foot traffic flow
• Direct attention away from any weak areas
• Enhance your home’s strong areas

Plus, expertly-staged homes on average sell quicker and for higher prices, which is why we always recommend it.

5) What will you do to market my property?

In today’s fast-paced digital world, it’s only half the battle to make your home look great in person. It’s critical that we utilize all of our digital and traditional marketing strategies to capture the attention of potential buyers from the first image they see of your home.

We focus on:

• Capturing phenomenal, high-quality professional photography of your home
• Producing enticing virtual home tours with state of the art image capture technology
• Utilizing our expansive digital presence to maximize buyer exposure and reach via social media, online listings, website advertising, and more

6) Should I be present for viewings?

When potential buyers come to see your home in person, whether it’s through an open house or private showing, it’s usually best for you not to be present.

While you might feel more comfortable being there or you might want to be on call to share your wealth of knowledge of your home, buyers are generally more comfortable when the current owners of their potential future home aren’t there.

Remember: buyers’ first experience of your home is perhaps the most important. Once they’re physically inside your home, they can truly begin to picture themselves living in the space for the first time.

7) Are there any seller’s closing costs?

Outside of the commission costs, sellers can expect to pay their real estate lawyers’ fees as well as any outstanding property tax and utility bill payments.

Are you thinking about selling your home for the first time? Ensure you’re set up for success by working with a real estate team that frequently helps first-time sellers. Book your personal home selling consultation here.

Think setting a price for your home is simple? Think again. Whether you settle on a number that’s too high or too low, there could be consequences. That’s why it’s so critical to set the right price the first time around. Here are some tips for ensuring the number you choose is just right—and why it matters…

The Dangers of Pricing Inaccurately

Days on market are really important. The first two weeks after your home is listed is crucial—if it doesn’t sell during this timeframe, buyers will likely begin to think there’s something wrong with it. That’s not always fair, but it is true.

This is the main reason to avoid overpricing your property. It could wind up languishing on the market. On the flipside, underpricing your home could mean you’ll get less money than you deserve. Depending on the market, it could also lead to multiple offers (more on that later).

Your Comparative Market Analysis

Your comparative market analysis (CMA) is a crucial document designed to help you make an informed pricing decision. It contains a wealth of information, including recent sold prices for local homes very similar to yours. Your property’s precise location, number of bed and baths, features, age, renovations—many factors are considered during the search for relevant comparables.

Only a skilled local agent can pull together a truly helpful CMA. Armed with this document, your well-positioned to take the first step towards setting your price.

Factoring in Marketing Conditions

Of course, current market conditions always play a role in what constitutes the ideal price. Your comparative market analysis can tell you a lot, but only an experienced local agent knows how shifts and trends can impact your sale.

In a buyer’s market, you’ll likely want to set a number that’s close to the last available comparable price. In a seller’s market, you can likely get away with adding around 10 per cent to that most recent price for a similar home in your CMA.

Considering Your Goals

Of course, your needs and selling goals are an important piece of the pricing puzzle. For example, if you really want to generate multiple offers in a hot market, your agent may suggest pricing your home slightly under market value. Of course, this strategy can come with its own risks—so make sure you discuss the pros and cons.

The point is, an experienced agent will ensure that your needs are front and centre. Make sure you clearly communicate them to the professional you’re working with.

Planning a home sale this year? Here are a few other resources to consider:

• How to Sell Your Home on Behalf of Your Elderly Parents
• Is Now a Good Time to Sell Your Investment Property?
• How to Maximize the Sale of Your Home with a Real Estate Agent

If Your Home Doesn’t Sell…

There are many reasons why a home may not generate any offers, and one of the most common is an artificially high price. Unfortunately, after a certain number of days on market, you may have no choice but to lower it. Your agent can help you determine when that should happen—and how much your price should drop.

This process is strategic, and it takes the expertise of a professional. Your agent may look at things like pending local sales that have price reductions. Another option is to take your home off the market and relist, in which case its history won’t be readily apparent (though an agent can find it if they want to).

The Power of Pricing

Needless to say, it’s crucial to choose the right number the first time around. Luckily, working with the right agent can help ensure that your listing price is accurate—and carefully selected to secure the best result possible!