Your sales representative is a trained professional who knows all aspects of the real estate market. A sales representative will save you time, money and aggravation.
When selling a home, it’s important to list with a sales representative who’s also an expert in your location. Not only will they be knowledgeable about the conditions of the area, but potential purchasers will also be calling this same area expert to inquire about houses for sale.
To find a sales representative who is knowledgeable about your neighbourhood, call them up and interview them. You’ll need to be feel comfortable with him or her and trust them because – after all – they will be working for you to get the best deal possible.
Our Experience: Kevin McCullough has been a licensed Real Estate Professional since 1978, and a Toronto Real Estate Board member for over 40 years. His designations include Re/Max HALL OF FAME, the Seniors Real Estate Service (SRES) designation, the Accredited Buyer Agent (ABR) designation, the Master Certified Negotiation Expert (MCNE). He has been servicing the Scarborough and Durham Region communities.
Should You Go With a Non-Exclusive or Exclusive Listing Arrangement?
If you enter into an exclusive listing agreement with your sales representative, you are putting your trust into him or her to find a buyer for your home. With this type of agreement, no other sales representative will bring potential buyers to your home because only the exclusive sales representative is entitled to the commission.
You may consider this type of arrangement in a Sellers’ Market during which time there are more people interested in purchasing a home than there are homes available.
Understand Market Conditions
The real estate market is in constant flux, not only as a whole but in particular areas as well. Knowing what is going on in the overall and local real estate markets will help you understand how these conditions can affect the sale of your home. We’ve designed the following comparison to help give you an overview of the three significant market positions: the Buyers Market, the Sellers Market, and the Balanced Market.
When you meet with your sales representative, ask about the current state of the market.
Buyers Market: Where the supply of homes on the market exceeds demand.
Characteristics: High inventory of homes. Few buyers compared to availability. Homes usually stay on the market longer. Prices are stable or perhaps dropping.
Implications: Buyers spend more time looking for a home, and when they negotiate, they usually have more leverage.
Sellers Market: Where the number of potential buyers exceeds the supply of homes on the market.
Characteristics: There is a smaller inventory of homes with many buyers. Homes sell quickly. Prices usually increase.
Implications: Prices may be higher or perhaps climbing. Buying decisions must be made quickly. Conditional offers may be rejected.
Balanced Market: Where the number of homes on the market is roughly equal to the demand.
Characteristics: Demand equals supply. Sellers accept reasonable offers. Homes sell within a reasonable time period. Prices generally remain stable.
Implications: There is less tension among buyers and sellers. There is a reasonable number of homes to choose from.