The basic rules of the transferring of property rights from one owner to another are quite simple. Aside from the parties involved it is the professionals hired to do a job that may complicate the transaction if you don’t choose them with care.
The business of real estate is not something most people dwell on from day to day unless they are thinking of buying or selling.
The Standards of Business Practice and Code of Ethics laid down by the Associations have changed dramatically over the past 10 years in preparing members of the real estate community and the public, for a level of professionalism that is expected by the consumer in today’s fast paced and high tech world.
Your first step should be to check out AGENCY1o1 to learn about hiring an Agent for the job of marketing and selling your property plus the different types of agency a Realtor is required to offer you.
It is your choice how you may prefer to be represented.
Next go to PROCESS1o1 to see how a typical offer transacts including negotiations, and strategies.
It is no secret that the average North American family chooses to move every three to five years for a variety of reasons. Hopefully, if wise decisions were made when you purchased your present home, a tidy profit should be forthcoming.
You should know that there have been many changes to the Real Estate industry over the last few years and the good news is that it is all in to your benefit.
Making the decision to move is not always an easy one for most of us, but when the choice is made, you want to sell for the most money you can get and usually in the fastest possible time. This is human nature and is a well known adage.
By following just a few easy steps and making the right choices along the way the experience should be a good one and hopefully a profitable as well.
THE PROCESS
There is a process in selling your property through the local Real Estate Boards and in most areas all members must belong to local and federal Associations.
Current upgrading of the real estate practitioner is now required every 2 years or they will forfeit their real estate license
Ok, brace yourselves for the following sequence of events that may turn you from a property owner into either a buyer again or maybe even a renter (Heaven forbid).
Broker “Licensed To Sell” Since 1980 Call Me DirectCel : 416.562.1346 Page : 1.866.880.6572 e-mail skrath@realestate1o1.com
Selling Privately
There is no doubt that if one can sell their principle residence without paying a commission the extra savings would feel better in their pocket.
Both Seller and Buyer feel they are saving something. But are they?
There are circumstances when selling privately is a definite advantage and then there are times when it is not.
Hot Market In a hot market everyone gets caught up in the frenzy of escalating prices but the only way to know what your property will go for is to expose it properly to the market place. That means listing it for sale on the local MLS (Multiple Listing Service) with an experienced Realtor.
Not only are all the eligible Buyers informed about the availability of the property but through the services of their own Agent they can be guided through the organized process in which there is protection for all consumers.
Down Market When the market is down and listings take months to even get viewings never mind offers, selling privately is almost never a consideration.
No matter what you are think your property is worth, there is almost no one who will agree with you.
Conclusion
In either type of market, You may be tempted to just get a free evaluation from the local Realtor and then sell the place to your relative or friend for around that price. If you want to maximize the equity, this may not be the best way to do so.
From a Buyer’s perspective, a hypothetical price is more apt to be an unrealistic one in relation to the prevailing conditions.
The services provided by the local Realtor are like any other service in any other business and is only as valuable as the recipient believes it to be. There are some things that are best left to those who do it every day. All you really need to know about:
