You’ve decided to sell: What’s next?

Victoria realtors share 6 steps to a successful home sale

You’ve thought carefully, looked at your financial situation, considered your options, and have an idea of when you want to move forward. Are you ready to sell your home? Absolutely!

But just what does that involve?

1. Select the right real estate agents: The first step is selecting a real estate agent or team, explains Realtor Niels Madsen, who with David Langlois forms an experienced Macdonald Realty team.

“It’s important to choose a Realtor knowledgeable in your market and who you work well with – arrange to meet in person to see if they’re a good fit. This also lets your agent get to know you, your financial situation and your real estate needs,” Niels explains.

2. The professional consultation:

Your agent should provide a professional consultation as part of your meeting – the current market in your area and an idea of how your home might perform.

“You might also discuss repairs, updates, staging and other changes that could increase your home’s value,” David notes. “Your agent will then review what similar neighbourhood homes have sold for, a reasonable listing price and how much competition you can expect.”

3. The paperwork: Once comfortable and confident with your agent, you’ll form an agreement to list your property with them – this is an agency relationship and will include various documents, which your agent should explain.

4. Stage & show your home: While you may want to launch into an open house right away, establishing a plan and schedule with your agent is vital. This includes optimizing your property for showing, which may require some time. Your agent likely has many years of experience, and connections typically unavailable to non-Realtors.

A comprehensive marketing plan from Madsen and Langlois

• Network marketing: “When we represent a client’s property, we arrange a company-wide announcement. Immediately, your property is placed before local professionals representing buyers who may be perfect for your home,” Niels says.

• Print, public & online marketing: In addition to key websites, including those exclusive to Realtors, tech-savvy agents may also advertise your property on social media and video hosting sites. They also look after the physical signage, marketing materials and advertising such as brochures.

5. Negotiate An Offer: Your agent will present you with any offers that arrive. They should review them with you in detail, noting the benefits and drawbacks of each, and advise you on how to negotiate a result that’s best for you. Negotiations can be competitive, and you may encounter subject clauses or conditions you’ll have to meet. A professional inspection and/or home appraisal is often required in a transaction. If parts of the property are in poor shape, buyers may attempt to have the price lowered by the cost of repairs or have the repairs completed before the title is transferred.

RELATED READING: 3 power negotiating concepts you need to know

“A professional real estate agent will help you navigate all this, and understand how different clauses might impact your total position,” David says.

Once you decide on an offer you feel is right for you, your Realtor will liaise with the buyer and/or the buyer’s Realtor, and will work with them to satisfy all of the subject clauses.

6. Sold! When all of the subject clauses are removed, your SOLD sign goes up!

To learn more, visit madsenlanglois.com or contact Niels Madsen and David Langlois at 250-388-5882.

RELATED READING: Take 5: Choosing the Victoria neighbourhood that’s right for you

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