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Seller Frequently Asked Questions

Seller Frequently Asked Questions

Why should I choose "Lil Wilkinson Realty" to help sell my home?

Please visit our "Seller Benefits" page for excellent answers.

What is agency, and how does it affect me?

Agency is the working relationship a REALTOR® has with a client, be it a Seller or a Buyer. This relationship is usually stipulated in a written agreement and signed by the parties involved. In the Seller's case, this contract is known as the 'listing agreement'. The agreement outlines the responsibilities the REALTOR® has toward the client, and the client has towards the REALTOR®. Sellers should be aware, upon receiving an offer, that their REALTOR® is working on their behalf, and quite likely the Buyer has a REALTOR® working on theirs. Having an agency relationship allows the REALTOR® to give you advice, represent you in negotiations, and keep any confidential information to themselves. To learn more please visit our "Agency" page.

Are commission rates a fixed amount?

No, each brokerage is independently owned and operated, and sets its own commission rates, as well as other standards and policies. Rates will vary between brokerages. "Lil Wilkinson Realty" offers two competitive packages to service your needs.

How do you establish a price for my home?

A good REALTOR® should provide you with a CMA - 'Current Market Analysis'. This is also called an 'Evaluation' or an 'Opinion of Value'. The REALTOR® will compare the features and characteristics of your home with similar properties that have recently sold. This shows what Buyers are willing to pay for such a property in the marketplace. Since no two homes are identical, monetary adjustments are made up or down for certain features that your home has, or lacks, over the comparables. The REALTOR® will also take into account the overall condition of your home, its location, and any trends in the economy indicating rise or falls in the market. After compiling this information, a selling range is suggested.

What are some cost effective ways of enhancing my home?

The first thing on the list would be to clean everything from top to bottom. If your home sparkles then it looks cared for, and that's important to the Buyer. You should also remove clutter from rooms, hallways, and closets, so your home feels spacious. Making small repairs, and painting where necessary, is relatively inexpensive and can go a long way to beautifying your property. For other good ideas please visit our "Dress Your House for Success" page.

What paperwork is required to get my home listed for sale?

There are two kinds of paperwork; materials from the home Owner, and the forms the REALTOR® requires for the market. As the home Owner you will be asked to supply a copy of your survey, if you have one, your property taxes, costs for heat and hydro, and any documentation regarding capital charges, your septic tank, and your well, if these apply. The REALTOR® needs to fill out a number of forms, including; a listing contract, a parameter sheet outlining the features and details of your home, an agency pamphlet, and an Identification Form.

So... I listed my home on MLS®, what does that mean?

Getting your home listed for sale on the "MLS® System" exposes your home to all the REALTORS® who are part of the system. Currently, there are over 900 REALTORS® who belong to the "Barrie and District Association of REALTORS® Inc.", which is where our MLS® System is housed. REALTORS® see the computerized details of your home and then make an appointment to show it to any prospective Buyers they are working with. Showings occur from various REALTORS® until the right Buyer makes an acceptable offer. Please visit our "About MLS®" page to learn more.

What are the best ways to attract a Buyer to my home?

The best way to attract a Buyer to your home is to be listed on the MLS® System. This will expose your home to over 900 REALTORS® who are members of the "Barrie and District Association of REALTORS® Inc.". These REALTORS® connect with Buyers on a daily basis. Having a 'For Sale' sign on your lawn, and Internet exposure, are also quite powerful. These items expose your home 24 hours a day. Buyers can also be generated from 'newspaper ads' and 'open houses', but statistics show that only 1% of the time does the Buyer purchase the home they call on, or see.

What's the procedure when a Buyer makes an offer on my home?

Normally, the REALTOR® who is working with the Buyer will draw the offer, be it your REALTOR® or a co-operating one. When the offer is ready, an appointment is arranged to present it to you. Your REALTOR® will go through the offer step by step, and clause by clause, and make any necessary adjustments. These may include the price, the closing date, chattels and fixtures, the deposit, etc. These changes are then sent back to the Buyer to peruse and modify if necessary. This process continues until the offer is finally accepted or rejected. Upon receiving an 'accepted' offer, the time limits start for any conditions to be met. Once the parties fulfill their conditions then notices are signed and submitted, and the offer becomes 'firm'.


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