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I feel so fortunate to have been referred to Madiha, easily the best real estate agent around. She helped me purchase my first property earlier this year and has been a beacon helping me navigate this wild world of real estate. Her knowledge, expertise and thoughtfulness are second to none! I’d send her litany of questions and she replies to each and every one thoroughly and transparently. She provides her clients a balanced approach to investing, offering advice based on a clear understanding her customers’ needs. I can always count on Madiha and look forward to doing more business with her in the future! I cannot recommend Madiha enough!
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An easy answer is when it’s best for you! Obviously, if you are closing on a home purchase, moving for work, or want to get settled before the new school year, you have a timeline you need to work with. But, if you have the luxury of choosing when to sell, there are a few considerations. Spring is traditionally a time when there are more buyers looking, but you may also have more competition. Fall, and closer to the holidays, is a good time to get a higher price from buyers that need to move before the new year. Watching the market is always smart. A seller’s market, meaning there are more buyers than sellers, is always a good time to list.
Determining your home’s market value is one very important reason to use a real estate agent. We will do a comparative market analysis (CMA) to help you set the correct listing price. We look at recent sales of comparable homes, similar homes that are under contract, and homes that are listed in the same price range of your home. Then we compare features of the homes including the size, style, number of rooms, age of the home, amenities, condition, lot size and placement, and the location or neighbourhood. (Note: the tax appraiser’s assessed value of your home has nothing to do with the market price.)
What your home is worth and what you should list it at are not the same. You always want to have room to negotiate with buyers, so setting a “firm” price to avoid the negotiation process is not usually a good strategy. Neither is setting a very high price to “see what we get.” Setting an unreasonably high price usually results in longer time on the market, which does not look good to buyers and will frustrate you. Many sellers ask about the price that Zillow or other real estate websites give for their home. These are not reliable because these sites are only taking into consideration very general demographics.
The length of time on market will depend upon the market in your area at the time of listing and whether the home is priced realistically. We are always working to get you the highest price in the shortest time possible. On average, a home that is priced right goes under contract in two to three months. If you need to sell fast, that should be reflected in the list price.
The standard real estate commission is 5% of the sales price, split between the listing and selling sides. Commissions are not paid directly to the agents, but to our brokers. They collect fees for marketing your home on MLS and other websites, administrative costs, insurance fees, and required fees for storing your transaction records as required by law. Our broker then pays me for representing you in the transaction. As your agent, we will work very hard to represent you ethically and with your best interest always the priority.
We recommend that you give the home a thorough cleaning– get rid of anything you aren’t taking with you, declutter surfaces, take care of repairs, make sure the major mechanical systems are in good operation, have the exterior pressure cleaned and the landscaping spruced up. You may also consider repainting if it is overdue or if the home is painted in dark or bold colors.
A multiple-offer scenario is a fun position to be in as a seller. We will help you through the negotiation process to select the right buyer– and that is not always the one with the highest offer. We need to consider how strong the offer is, whether they are offering cash or financing, how much they are financing and what type of loan they are using. How much they are offering to put in escrow and the terms of the inspection process are indications of their commitment to the deal. You may also draw on sentiment: are they buying your home as an investment or a place to raise their family?
