Frequently Asked Questions

A. The length of time it takes to sell properties can vary considerably, because it depends on your home's location, its condition, any recent updates you may have made to it, your asking price, how much competition there is currently in the market, your choice of realtor, and how well the property is marketed.

Q. What is most important thing I can do to get the highest market value for my home?

A. Choose the best listing agent available. Your choice of listing agent is the most important factor in the successful sale of your property. Choose an agent who has a proven track record and who represents a "full service" real estate agency. The more services a realtor can provide, the greater his ability to attract the highest number of buyers. The greater the number of buyers, the better your chances of maximizing your market price.

Q. What else can I do to maximize the market price of my home?

A. Ask the right price for your property. Deciding the right price is the second most important thing you can do. Your realtor will help you with this by providing you with a current market analysis at the time you go to sell, as well as guidelines on how best to prepare your home so that it can be shown to its maximum advantage.

Q. How often should I expect to hear from my realtor?

A. This will depend on the circumstances of your sale, however you should be kept fully informed on all activities regarding your sale. This includes feedback on all showings, new competitive listings in your area, sales of competitive listings, and general market conditions impacting on your sale. At the very least, you should hear from your realtor every week. Your realtor should also stay in touch long after your sale is completed.

Q. How should I go about selecting a realtor to represent me?

A. Ask around. Ask your friends, relatives and business associates about their dealings with realtors to find out who has well served them well. Phone around. Call a selection of real estate businesses in your region and ask about the services they have to offer, then compare their responses. Make sure your realtor has the experience and expertise you require, a proven track record, a reputation for honesty and integrity, and is prepared to listen to you.

Q. How should I determine the appropriate list price for my house?

A. You should work with your realtor on this because the price you list your property at will significantly affect its actual selling price and the length of time it is on the market. First of all, your realtor will provide you with a competitive market analysis giving you a reasonable range of values. You can then factor in your needs and together you should be able to come up with the best price for achieving a timely sale.

Q. What is Agency?

A. Agency relationship is created where one person, known as the principal, asks another person, known as the agent, to act for and on behalf of the principal. The principal will define the nature and extent of the agency relationship; in other words, what the agent is being asked to do. In Real Estate transactions, agency relationships are created when vendors or purchasers ask REALTORS to act on their behalf in Real Estate transactions.

Consequences of Agency relationship
As a matter of law, an agent who represents a principal owes that principal the highest duty of "utmost good faith"; the agent must represent the principal's best interest at all times. The agent owes his principal a duty of confidentiality regarding information about the principal.