Seller Frequently Asked Questions
Why should I choose "Lil Wilkinson Realty" to help sell my home?
The best way to answer this question is to visit our "Seller Benefits" page.
What is agency and how does it affect me?
Agency is the working relationship that the REALTOR® has with the 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 that the REALTOR® has toward his client and that the client has towards the REALTOR®. Sellers should be aware that upon receiving an offer on their home, that your REALTOR® is working on your behalf, and that very likely the buyer has a REALTOR® working on their behalf. Having an agency relationship allows the REALTOR® to give you advice, act on your behalf, represent you in negotiations, and keep any confidential information to themselves. To read more please visit our agency page.
Are commission rates a fixed amount?
No, each brokerage is independently owned and operated and therefore sets its own standards and policies, including setting commission rates. Rates will vary from brokerage to brokerage. Lil Wilkinson Realty offers two competitive packages to help 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 sold recently. This shows the REALTOR® what buyers are willing to pay for such a property in the marketplace. Since no two homes are identical the REALTOR® may make monetary adjustments 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 that may indicate rise or falls in the market. After compiling this information the REALTOR® will suggest a selling range for your home.
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 some 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 needed; materials from the homeowner, and the forms the REALTOR® needs to get your home on the market. As the homeowner 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 that they are working with. Showings occur from different REALTORS® until the right buyer makes an acceptable offer. Please visit our MLS® System page to read 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 very 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 that 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 REALTOR®. When the offer is ready an appointment is arranged to present it to you. Your REALTOR® will go through the offer with you step by step, and clause by clause, and make any changes that may be necessary. Some changes may include the price, the closing date, inclusions and exclusions, the deposit, etc. These changes are then sent back to the buyer to peruse and modify if necessary. The offer continues to go back and forth until it is finally accepted or rejected. Upon receiving an "accepted" offer, the time limits start for any conditions in the offer to be met. Once the parties fulfill their conditions then waivers are signed and submitted, and the offer becomes "firm".