How to Sell a Home in Ontario: A Complete Guide
Selling a house in Ontario is a huge step, especially for homeowners that spend years making improvements to enhance the value of their properties.
You need to learn about various concepts and make sure that you’re working with an experienced agent to sell your house at the right price.
Let’s take a look at the steps you need to follow to sell your home in Ontario.
9 Simple Steps to Selling a House in Ontario
From hosting open houses to organizing professional photos and home staging, many tasks need to be carried out in order to sell a residential property in Ontario. In addition to these services, sellers must keep legal fees and other closing costs in mind.
The good news is that working with an agent can reduce the number of required steps to sell a house. Additionally, real estate agents work with a network of providers, which gives them access to high-quality services at discounted rates. This can reduce the amount of work you have to do and the cost of selling your home in Ontario at the same time.
1. Interview a Few Real Estate Agents
The first step that sellers need to take is to find an agent. Now, all owners are different. You need to find an agent that you trust, charges reasonable commission fees, and wants to spend time finding prospective buyers.
Make sure to ask all of the questions you may have during the interviews. We’ve included a list of great questions you should ask every listing agent at the end of this article, so keep reading to get a few suggestions.
Many agents will promise to sell your house fast and ensure low commission fees, but take the time to read reviews and get a good feel for every broker. Once you have learned about the services provided by every real estate professional you’re evaluating and verified reputations across the board, you should make a decision based on the best fit.
2. Sign the Seller’s Agreement
Once you have selected a real estate agent, it’s time to sign the seller’s listing agreement. This is a document detailing the conditions of the partnership between property owners and their real estate professionals.
Your real estate agent will talk you through this document, which should include information like the commission rate, the agent’s actions to sell the property proactively, and all other relevant details.
3. Prepare Your Home
Next, your real estate professionals will instruct you to prepare your home.
Your real estate agents will start promoting your home to buyers right away, so it’s crucial to prepare ahead of time.
All agents have slightly different instructions for their sellers, but preparation often includes home staging, an initial inspection of the property, and the creation of a schedule.
Scheduling events can be challenging if you rent your house and there are difficult tenants involved, so bring this up with your real estate agent during the first meeting.
4. List Your Home Through a Multiple Listing Service
Your agent will employ a multiple listing service to promote your property sale through various channels. This will amplify the volume of potential buyers who see your house, increase the number of events your real estate professionals is hosting, and reach representatives of people who want to buy houses like yours.
Note that your real estate agent will also spend a significant amount of time and resources on promoting your home through other channels.
There is no set regulation that specifies the amount of marketing that agents have to perform. This is why it’s important to identify real estate professionals that you can trust from the get-go.
5. Stay Informed of Open Houses and Other Events
Congratulations! At this point, your house is already on the market.
But, your job is far from done.
Now that you’re officially selling your house, interested buyers are going to want to see it. Your real estate agent is responsible for organizing open houses as well as private viewings. You need to stay in touch with your real estate professional and understand the events schedule to ensure that your house is clean and ready for buyers to see its actual value.
Keep in mind that your entire family has to be out of the house for agents to showcase it properly. This is extremely important for all events, but more so for private showings that involve a buyer with a pre-approved mortgage or this buyer’s agent.
6. Field Offers
At this point, the cost of selling a house in Ontario is extremely clear. It’s time to make a decision.
You may receive one or multiple offers for your property so the evaluation process will vary depending on this. There’s no guarantee that buyers will make offers starting at your asking price, so you need to consider the legal fees and additional expenses you have to cover before making a decision.
During this process, your agents are your biggest allies, so lean on the services you’ve hired and trust your choice. If your real estate agent dislikes an offer that a buyer is making, pay close attention to its reasoning before making a decision.
7. Accept the Best Deal and Start the Second Part of the Process
You’re now in a prime position to accept an offer based on how much money you’re being offered. Besides the real estate commissions, you may have to pay for expenses unrelated to the sale, for example, finishing off an old mortgage.
The post-sale process varies from property owner to property owner. Your best bet is to await instructions from your real estate agent, who should be in touch regularly until the process is over.
8. Pack Up and Move Out
The sale is finally complete, so all you have to do now is hire a moving service and vacate the property you owned.
There is no doubt that this can be an emotional time for your entire family. For many, it’s also an exhilarating sensation as the money coming in from the sale will often set them up for the next chapter.
If you don’t know already, speak with your agent to find out how much time you have before giving the keys to the new owners.
9. Sign the Last of the Paperwork and Relinquish the Keys
All the fees should be covered, the sale process should have been completed, and you’ve hired all the necessary services to move out.
The last step is to sign the last of the paperwork and transfer the keys over to the new owners. Your agent will set a date and tell you everything you need to know prior.
The process is simple, but it’s normal to have questions, even if it’s not your first home sale. If you have any questions or want to learn more about working with one of our experienced real estate agents, get in touch with us today, and we’ll be glad to help.
Questions to Ask Your Real Estate Agent When Selling Your Home
Selling a house is an exciting process, but it’s normal to have questions. For example, what’s the exact real estate commission rate that you’re paying?
In addition to this, some of the questions you should ask your real estate agent include:
- How does the process work with your firm?
- Are you certified by the Canadian Real Estate Association?
- What are all of the costs of selling a house in Ontario, including real estate commissions?
- How do I increase my property’s value?
- How will you increase the house’s chances of being sold?
It doesn’t matter if you have experience or if it’s your first time selling a home; working with real estate agents can result in a faster, more profitable sale. Stay tuned to learn more about selling your home with the help of real estate agents in Ontario.
As an alternative option, you can get in touch with us directly and learn more about our industry-leading commission rates. Get in touch with us today.
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