Sell Your HomeFast & Profitably

In this case, you don't really have to worry about playing the market. If you sell your existing home for a 'low' price, you're probably also buying at a low price. If you are upgrading to a larger home, this actually works to your advantage. Imagine when your bigger home is on the upswing.

If you're downsizing from a bigger home to a smaller home or a condo, you need to pay a bit more attention to the market.

Your REALTOR® who helped you buy your current house is a good start. Sticking with a REALTOR® just makes sense. If they did a good job helping you buy your home, they're probably the best candidate for helping you sell it. They already know the home inside and out, and they know you, so you'll save time two ways.

Think locally. Jot down the names and numbers of REALTORS® on the 'For Sale' signs in your neighbourhood. Maybe your local friends or nearby family have a REALTOR® to recommend. You can also visit one of your local real estate offices; it's guaranteed they'll know your area.

Don't be afraid to ask questions, or screen a few REALTORS® before deciding. Make sure you feel comfortable with them and that they show a genuine interest in helping you.

For a list of questions you can ask view the page "10 Questions to Ask when Hiring a REALTOR®."

Should you choose the REALTOR® who suggests the highest asking price for your home? Ask what method they used to assess your home's market value. How was your home compared to other homes in your neighbourhood that have been sold recently?

Step 4 will give you a better understanding of listing price and how it affects the sale of your home.

"Exclusive Listing" means that only your brokerage can find a buyer for your home. REALTORS® generally recommend a "Multiple Listing", which allows them to put your home on the Multiple Listing Service.

The Multiple Listing Service, which is one of the tools used by REALTORS® in providing you with MLS service, is paid for and operated by REALTORS®, so it can be used to spread the word to other REALTORS® to help you find a buyer.

It's a popular real estate marketing system paid for and operated by REALTORS®, so it can be used to spread the word to other REALTORS® to help find you a buyer. A "Multiple Listing" gives your home maximum exposure and your commission stays the same. It really is the better way to sell.

Legal information such as the lot number, land surveys and the zoning code will be included. Financial information like the minimum deposit you require with any offers will also be noted.

Your REALTOR® will itemize the lot size, the age of your home and the style of construction. They'll list the style, number and size of the rooms. They will also be sure to include any outstanding selling features of your home such as 'backs onto ravine' or 'fabulous kitchen renovation.'

Chattels and Fixtures. Chattels are moveable items like washers and dryers, microwaves and window blinds. Chattels are not automatically included in the sale, but sellers will often include them to sweeten the deal. Any chattels you wish to include should be clearly noted.

Fixtures are permanent improvements to a property like central air conditioning, installed lighting and wall-to-wall carpeting. Fixtures are assumed to be included in the sale of the home unless you note otherwise. Maybe the dining room chandelier is a family heirloom and you wish to take it with you.

The line between chattel and fixture can get blurry, so leave nothing to chance! Go over every item with your REALTOR® and make sure it's accounted for in the Listing Agreement.

Many real estate boards now request a Seller Property Information Statement. This can list any recent renovations or improvements, but more importantly, it lists all the known major defects and faults with the home, hidden or not.

Be honest about imperfections. Maybe the basement leaks during the spring thaw, maybe the kitchen sink backs up when both showers are running. It is best to come clean and report it.

If you don't, and a significant fault is discovered before the sale, it can cast a shadow of doubt over the rest of the home. If the fault is discovered after the sale, and it can be proven that you knew about the problem, you may be sued for the cost of the repairs.

Honesty is always the best policy. A major defect does not mean your home will not sell. List the defect and state how your home's price has been lowered accordingly. This can actually be attractive to some buyers, especially if they have experience with the required repairs!

"Market Value" is a term that simply means the maximum amount of money that interested buyers are willing to pay for your property.

Remember, buyers comparison shop, especially for something as expensive as a home.

REALTORS® know the general factors affecting your market. Maybe larger families are moving into your neighbourhood. This trend will make homes with three or more bedrooms and large yards more appealing than two bedroom bungalows.

Perhaps a large employer is opening a plant nearby, which will increase demand for housing in general.

How are interest rates affecting people's willingness to take out big mortgages? Do people feel confident about their financial futures?

Your REALTOR® knows the answer to these questions and, more importantly, how they affect the price of your home.

After accounting for general market influences, your REALTOR® will get very specific about your home, and perform what is called a "Comparative Market Analysis" (CMA).

Using the extensive background information available only to REALTORS® through the MLS listing service, they will compare your home to a collection of similar homes that have recently been sold in your area.

No two homes are the same, but REALTORS® are very good at adjusting their calculations according to the differences.

Your REALTOR'S® suggested asking price is thoroughly researched, and designed to maximize attention and profit for your home. You can feel confident trusting their opinion.

Yes, first impressions matter. It's nearly impossible to replace the initial flurry of interest and activity a new listing will generate.

REALTORS® in your area will want to see your home right away and tell their buyers all about it. Be sure you're priced and poised to capitalize on this first wave of excitement.

Ask the people you trust like friends, family or business associates if they know a lawyer with substantial real estate experience. REALTORS® can also give you the names of several lawyers.

Before you agree to a lawyer, make sure they're experienced in real estate, ask how they structure their fees, and get an estimate of the other legal costs you can expect.

Your lawyer will review important documents that require your signature. The most critical of these is the 'offer' submitted by the buyer.

You want to know exactly what you are agreeing to before you sign any offer. You will be legally committed to anything you sign, so it's essential to make sure you're protected.

During your 'home tour' identify anything that's broken, half-finished or simply doesn't work. Fix all the little things like leaky faucets, doors that squeak or that don't close properly and small cracks in the ceiling.

Some repairs are absolutely vital, like a leaky roof or basement. Nothing kills a sale faster than signs of water damage. If there's an unsafe electrical problem you must fix this too, for the good of the sale and the buyer's safety (not to mention your own).

Remember, you want buyers to walk through your house and feel like it's their home, not yours! People just don't have good visual imagination. They won't see past your cluttered wall of family portraits, your collection of curling trophies or your 'eccentric' home decor.

These things are guaranteed to prevent buyers from emotionally placing themselves in your home. Remove everything that's too much about you, and ask your REALTOR® for help deciding.

Strong colours on the walls or wild wallpaper make it hard for buyers to imagine their furniture in your house. Consider repainting your home in bright, neutral colours that will enhance a room's size and look more inviting.

Next to cleaning your home, paint is the most cost-effective way to increase your home's appeal, and attract offers.

The "For Sale" Sign. Despite all our leaps in technology, the "For Sale" sign continues to be an extremely effective way to advertise. Anybody responding to your sign is a good lead, because they have seen the home with their own eyes and are interested enough to phone in.

If somebody is bold enough to knock on your door and ask for a "quick peek," politely tell them that all visits are being handled by your REALTOR®.

Your REALTOR® will place your home on the Multiple Listing Service, ensuring maximum exposure to all REALTORS®. Most MLS listings are also advertised on www.mls.ca, Canada's most popular Internet research tool for residential real estate, and a big reason why many Canadians who search for a home start on the Internet.

Remember your REALTOR® Open House? All those REALTORS® have called around and found buyers looking for a home just like yours. Naturally, these buyers want to see your place firsthand before making an offer.

Your REALTOR® will act as a go-between and will give you as much notice for these visits as possible. Keep your home in top shape and be somewhere else during these visits.

A 'lock box' is a small, sturdy metal box that's affixed to your front doorknob. It's a mini safe with a key to your house inside. REALTORS® are given a combination to the lock box, so they can show your home to interested buyers.

Be patient with visits. Hopefully they will lead to a great offer, soon!

It's required that your REALTOR® show you every offer that's submitted. They'll call for an appointment, usually at your home, to discuss the offer. The buyer's REALTOR® will probably be there too. They are there to represent the buyer's best interests in the negotiation. The buyer will not be there, so you can review and respond to their offer without any awkward pressure.

Your eyes will be immediately drawn to the price! Here's where emotions can really kick in. This isn't a poker game, but remain calm. Listen to the REALTORS® before making any judgments. You'll probably ask the buyer's REALTOR® to leave the room. Now you and your REALTOR® are alone to discuss the merits of the offer. Maybe it's time for a high five, or maybe it's time to plan your counter offer.

A successful negotiation is one that leaves both you and the buyer feeling satisfied with the outcome. This is a highly emotional time, so be sure to regularly 'check your head', and ask yourself 'How important is this particular detail to me? Am I willing to jeopardize a sale over this?'

Remember once you 'sign back' an offer, you are releasing the buyer from their offer and they are free to walk away. Thankfully, your REALTOR® is an expert and seasoned negotiator, and will help you every step of the way.

If you plan to "discharge" or pay off your mortgage with proceeds of the sale, your lawyer will obtain a statement from your lender showing your outstanding balance on the mortgage, and any penalties you'll have to pay to discharge the mortgage.

A few days before closing, your lawyer will ask you to sign the paperwork that enables the title to be transferred to the buyer.

On closing day, your lawyer will receive and distribute the proceeds from the sale, pay off your mortgage and other costs, and give you a cheque for the net proceeds.

Congratulations! You should be pleased that all your hard work paid off. We hope these ten steps helped make it easier. You've probably already used the proceeds from your sale to purchase your next property. A very wise move indeed, because as you know, home ownership is one of the best long-term investments you'll ever make.