• Are you a full time agent or do you have another job (and you work real estate part-time)?
  • Answer:  I am a full-time agent.  This allows me to be available to my clients when they need me through the entire process of buying or selling a home.  My first priority is to real estate which allows me to keep up to date on all the trends and happenings in the markets I work in.
• How will you get paid, will I be paying you directly?
  • Answer:  (This question may be different in various parts of the country.)  When buying Lake Minnetonka Homes, for example, the seller pays the listing agent a commission and that agent splits that amount with your buyer’s Realtor.  Consequently, you as the buyer pay nothing.  If you are listing your home for sale, the commission is negotiated between you and the listing agent.
• Are you a member of the National Association of Realtors?
  • Answer:  Most Eden Prairie Realtors are members of both their local and national associations.  These agents have made a commitment to their industry and career.  Additionally, being a member of these associations requires you to commit to certain ethical standards.
• How will you help me determine a fair price for my offer (or listing)?
  • Answer:  Before writing up the offer (or putting your home on the market), we will compare other sold homes in the neighborhood that match the target house. This will give us a clear picture of how much money the house is worth. Along with those comparable solds, we will look at other listings in the area, and examine the overall market trends (Up, Down, Stable).

While not an exhaustive list, some quick questions can help you sort which real estate agent will be the best fit for you.

Selling a home in today’s economic status may be difficult, but it is not impossible. It is a process that can become lengthy but is well worth it in the end. There are things you can do to improve your chance of selling your home at a price you are comfortable with. It is just a matter of following the process and doing what you can to put a top notch home on the market.

You Need A Realtor

The first step in the process is to contact a real estate agent who you can trust. You will want to be sure they are familiar with the neighborhood. Another trait you want in an agent is one who works with both sellers and buyers so they can give you the buyer’s point of view as well. You will rely on your real estate agent to help put your home on the market, show the home to prospective buyers, write out contracts, and deal with closing.

Fix It Up

The next step you want to look at doing is making any repairs or modifications you can to increase value and appearance. Some of the basics you want to take care of are painting, fixing any holes, leaky faucets, and other minor improvements. Your agent might also have you do a deep clean and remove any clutter to boost appearance during the showing phase.

Show It Off

Showing your home is a part of the process you do not want to turn down.  It is proven that homes sell a lot faster if the buyer can see it in real life rather than just on paper. Many buyers will give little or no notice to when they want to see the house so be prepared at all times if possible.  Let the buyers look freely, do not hover or try pushy selling as this will make them feel uncomfortable.  Buying a house is not like buying a car.

The Contract

The buyer will work with their agent to draw up a contract. Then they will send an offer over to your agent who will then present the offer to you and decide whether to negotiate or settle. Once there is an agreement both sides will sign the contract and the buyer will write a check for the earnest money showing they are serious about buying the house.

Closing Attorney

Most states require that a lawyer be present during the closing phase of the process. Many sellers will use the same lawyer as their buyer to keep it simple. The lawyer will then draw up a deed.

Home Inspection

The will have a home inspection completed by a professional inspector. If there are items that need to be repaired or replaced the buyer will create a list for the seller.  The repairs will be negotiated between the buyer and seller. Another thing to inspect for is termites. The seller is usually required to have the house inspected for termites, wood rot, mold, and moisture.

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Few housing markets in Ontario, could hope to demand this kind of interest.  Even few sections in the city of Toronto could hope to do so well for a home seller.  I must admit to being pretty surprised, as with the news of housing collapses in the US, I just assumed that the Canadian market would have calmed down as well.  Apparently, I was mistaken.  I can only hope, that when I decide to sell my hope someday, that I’ll have the same success.  I’ve been in my current home for 20 years now.  While, it can definitely be hard to sell a home you’ve be in for that long, with so many memories, sometimes circumstances dictate that it’s necessary.  I’m not there yet.