Royal Lepage Seller Services
Selling A Home
Royal Lepage™ sales representatives know that selling a home can be a confusing and complicated process. This guide is designed to help buyers and sellers throughout the process.
About Royal Lepage™
Royal Lepage: Helping you is what we do
Central to Royal Lepage™ success is its pledge of helping you is what we do. Instilled in each sales representative is Royal Lepage’s™ commitment to industry leading professional conduct and customer service. Along with a dedication to community involvement, clients can be assured they will receive ethical, knowledgeable, and caring representation.
Why Choose a Royal Lepage™ Sales Representative?
Given the complexity of a home sale or purchase, it pays to have a Royal Lepage sales representative to help. Because Royal Lepage sales representatives receive continuous professional training they develop the high standards needed to help homeowners navigate the real estate process. Our sales representatives will stand by their clients throughout the entire sale process and are committed to be available whenever they are needed. Our dedication to customer service is to provide the seller and buyer with the best possible service to gain more qualified sellers and buyers and to obtain the best price for the seller’s home.
Royal Lepage Knows Communities
Royal Lepage representatives know local neighborhoods which offer amenities such as shops, parks, schools, and transportation such as subway, bus, GO train, and accessible highway routes. This knowledge in addition to other selling features of the home will allow Royal Lepage sales representatives to set an asking price that takes these amenities of the home into account. The purpose of this analysis is to find qualified buyers and to market the home to it’s full potential.
Royal Lepage™ sales representatives will develop a marketing plan for the seller to best advertise their home. This marketing will showcase all the features that will help sell a client’s home. Such selling features include a newly renovated kitchen or bath room, how accessible the home is to local schools, shopping, and transportation, and recreation facilities such as a golf course and Health Fitness clubs. Other features that set this home apart from the competition such as an excellent location will be also be included in the marketing plan. This advertising will be aimed at attracting potential buyers with professionally written content which will include well designed graphics tailor made to enhance attractive colorful ads that market the property.
Royal Lepage™ Marketing Strategy
Through Multiple Listing Services (MLS) electronic data base, homes listed for sale are posted for every major realty firm to see when they are searching the MLS system in the city or locale of your newly listed home.
As well as using the latest up to date technology to sell homes, Royal Lepage™ sales representatives will also use more conventional methods for selling a home, such as informing residents in the area close to the advertised seller’s home, conducting open houses, and placing attractive signs on or near the sale property.
The following list outlines the steps your Royal Lepage representative will take, to ensure a home’s quick sale at the best possible price and terms.
- Prepare a comparative home market analysis also know as a CMA.
- List the property on the Multiple Listing Service (MLS) for maximum exposure.
- List the property on a Royal Lepage’™ corporate office website for other sales representatives to view.
- Display and promote the property to Royal Lepage™ staff at marketing meetings.
- Compose a detailed marketing sheet(s) that highlights and lists the features, advantages, and benefits of the property.
- Develop the property’s ‘distinct advantage’ compared to other similar properties to determine the main selling features of the property.
- Display a professional Royal Lepage™ sign on the property.
- Advertise the property through a dedicated web site that has high ranking for search engine optimization.
- Promote the sale of the property through community advertising such as social media.
- Communicate to prospective buyer clients on all marketable aspects of the property.
- Provide the seller with regular updates on marketing conditions and all results obtained from marketing the advertised home.
- Qualify potential purchasers to make sure the seller client only receives serious offers.
- Make buyer and seller clients aware of all financial alternatives regarding the sale.
- Explain to client(s) making a new home purchase, the home warranty program.
- Offer to provide both the buyer and seller clients names of firms or companies that provide services that will ease the burden for the buyer or seller during the home sale/purchase process such as Real Estate Lawyer, furniture mover, and home inspector.
- Communicate with clients regularly to ensure a smooth transition in the sale of the property.
- Present the client with all offers and negotiate for the best possible price and terms.
- Provide the client with copies of all information and transaction documents relevant to the sale of the property.
- Conduct a follow-up on all necessary closing details until the money is in the client’s hands and they are ready to move.
- Provide a commitment to the seller to be available for clients during the sale process. If the sales representative for the seller is unable to be available due to circumstances beyond the sales representative’s control then an alternate sales representation from the same broker office will provide the client with the same high level of customer service as expected from the listng sales representative.
The Listing: Putting a Home on the Market
Meeting with a Royal Lepage™ sales representative at the seller’s home is the first step toward putting a home up for sale. This meeting with the home owner(s) is the beginning of the sales process that involves a number of professionals such as:
- Listing Broker: A real estate broker is hired by the seller to represent the seller through a contract known as a ‘listing agreement.’ If the sales representative who sold the home is associated with the broker hired by the seller then a commission is paid from this broker to the associated sales representative. The commission on the sale of a home, in this situation, is shared between the the sales representative who sold the property and the listing broker who was hired by the seller. In this situation, the listing broker provides both the buyer and seller for the property, so the listing broker and sales representative associated with the listing broker who sold the property shares the listing and selling commissions. This is what is known in real estate as a commission split.
- Selling Broker: If a real estate representative from a broker (other than the listing broker) finds a buyer for a property then the broker representing the buyer will share the commission with the listing broker who was hired by the seller. This means one broker has listed the seller’s property for sale and a second broker has provided a buyer, so in this situation, the listing broker will share the commission with the broker representing the buyer. The broker representing the buyer will then pay a commission (a percentage of the commission the buyer’s broker received from the listing broker) to the sales representative who made the deal with the buyer.
The seller and a sales representative who works for the broker hired by the seller, will meet to come to an agreement on the terms and conditions of the listing agreement for the sale of the seller’s home during the term (duration) of the contract which is usually 3 – 6 months. The agreement will show a beginning date and a termination date of this term so it is clear to everyone as to when the listing agreement starts and ends. This agreement will also include the amount of the listing broker’s commission (usually a percentage of the sale price of the home) if the home is sold while under contract of the agreement. And the listing agreement will also state an asking price for the home about to be listed on the market. This price will often be based on a comparative market analysis (CMA) that shows the recent home sales in the area that are comparable to the seller’s home.
Determining the Value of a Home
During the listing appointment, the listing sales representative will inspect the home to determine the selling features and floor plan. It is important for the homeowner(s) to clearly indicate to a sales representative any home features that could be of value to a potential home buyer(s) and are not apparent or visible. These hidden features can be of value because prospective buyers who comparison shop are often aware of subtle differences in homes so learning of some features that are not clearly visible in a seller’s home may be enough to convince a potential buyer to purchase the home.
Documents the seller can expect to provide before the sale of the home
To help prepare for the sale of the home, sellers may need to provide some documents to verify specific items needed for a buyer(s) lawyer. It is recommended homeowners have them ready before the listing appointment. Such documents may include:
- Pay-off Notice: Signed by the home seller and mailed to the lender by the listing broker, this letter notifies the lender of the intention to pay off the mortgage in order to minimize prepayment of interest penalties to the seller (note: the home seller should provide the broker with the lender’s address, loan balance, if the mortgage is assumable, years remaining on the present mortgage.
- Septic and Well Inspection: If a property is on a septic/well, inspections by local health authorities are required while the home is occupied. The listing sales representative will typically arrange for this inspection.
- Order Lender Appraisal: Usually required by a lender, it is an appraisal to assure a property is adequate collateral for a loan. An appraisal may be ordered (and paid by the seller) but is often completed after an ‘offer to purchase’ is accepted (and is paid by the buyer).
- Assessment/Easements: are there any property assessments or easements that must be paid or included in the purchase contract and passed on to the buyer’s lawyer once the property is sold.
- Property Taxes/Condominium Fees: A record of property tax or condominium fee payments by the home seller.
- Inspection: Mortgage lenders and/or buyer(s) may require a home inspection certificate to show a house is free from major defects but if there is structural damage or any deficiencies in the home, then the inspection will show the extent of this damage/deficiency.
- Utilities: A record of the utilities used in past 12 months so this would include utility bills such as gas, electricity, sewer, water, and garbage pickup. This helps the buyer determine costs associated with the home and if there any outstanding bills that are not paid.
Other documents the seller may need to provide:
- Survey of the property
- Is there a rented water tank, furnace, or air condition in the home for sale and if there is, can the contract for rental equipment be assumed by the buyer once the home is purchased or is there a buy out clause in the rental contract that takes effect if the home is sold to a new owner and if there is, what are the terms of this buy out for the new owner.
- Warranties on major systems or appliances in the home or a Home Owners Warranty (if still in effect).
- Copy of the Home Owners Insurance Policy.
In anticipation of a buyer’s offer, home sellers must be prepared to provide a listing sales representative with a specific list of personal property to be included in the property for sale. These items may include: draperies, drapery rods, washer, dryer, refrigerator, stove, microwave, above ground swimming pool, pool chemicals, awnings, storm windows for doors and windows, blinds, shutters, and window air conditioners. Items that are typically included in the sale of the home are appliances such as the washer, dryer, refrigerator and stove and windows coverings such as curtains and blinds. If the seller does not want to include any of these items in the sale then they should be removed from the property or clearly written in a document provided to the broker representing the buyer as well as the buyer so the buyer knows they are not to be included in the sale of the property.
- Lockbox: A small metal box with a combination lock that holds a key to gain entrance to the home for sale. This box is hung on the front door handle of the home for sale and can only be opened by a a licensed sales representative who is scheduled by appointment with the listing broker to show the home for viewing to a prospective buyer.