Frequently Asked Questions from Home Sellers

It's a difficult question! There are many contributing factors to keep in mind when selling your house. Knowledge of market circulation is crucial. The Greater Vancouver real estate market is seasonal, with the slowest months being November, December, and January, with activity rising again in March. However, you must also consider inventory and the number of residences that compete with you. Depending on the type of property you own, having less competitors may be a major benefit to you. It is best to consult with an experienced real estate consultant about timing and strategy.

There is more to real estate that meets the eye, putting it on the market simply isn’t enough to sell it. To draw attention to your home, you'll need a marketing approach, and to be on Multiple Listing Service (MLS). When you list your selling property on the MLS, you are using multiple marketing approaches to sell your home, not just relying on the market alone. The MLS is where the majority of houses are advertised for sale. It is the major tool used by real estate agents and purchasers to search for a home. You can list your house on the MLS for as little as $1,000 with some agencies.

You do not need to engage a realtor to sell your home. It is merely a bonus and a convenience. All the details involved with selling your house you can do yourself: price, advertise, show, negotiate bids, and facilitate closing. Consider some of the benefits of using a realtor:

• Better pricing strategy (because realtor update homeowner market trends and insights)
• Sell easier and faster with their connections + the agent might discourage making an offer, citing the hassles and risks of trying to close the deal without a professional representing the seller—and without a guaranteed commission
• Save time and energy. You get what you pay for with realtors, if you want success and the price you’re searching for, then hiring a realtor will make it all happen.

Commissions can be negotiated. While any individual company or realtor may or may not negotiate their fees and commissions, prices and commissions are negotiable from an industry standpoint. A good one can save you much more than just money; it's your time and your energy. They provide you with multiple tools to sell your house rather than solely relying on the MLS listings, produce all the needed consultation and support, etc. Last but not least, their commission comes from the selling price, so a good or "great" realtor is always motivated to sell your property at the highest price.

Selling your home does not guarantee that you will receive the purchase price. If you intend to sell your property, you should be aware that there may be closing expenses when selling a home in British Columbia. When selling a house, you may have to swallow a bitter pill because you will not receive the municipality's quoted price for your home. That is why liquid net worth is a good indicator of genuine net wealth. There are some closing charges you can incur when selling a home in British Columbia. In BC, you must pay closing fees such as the property transfer tax (PTT). The average home sale price in British Columbia is between $675,000 and $700,000, with closing fees ranging between $14,000 and $28,000.

Absolutely not, and this is critical for you to understand. You may believe that searching for homes online is simple, but a skilled real estate agent can handle the search for you. Getting to know realtors is important for building relationships and trust. Each one coming from a different background will be able to assist you differently. They can help you with staying on top of new listings, scheduling viewings, and connecting with the agent representing the seller. When the time comes to buy, a real estate agent can assist a buyer in navigating the purchase contract, which is crucial to determining how much you will pay for the home over the life of a mortgage loan. At ULIX, we think it is important to get to know our realtors before choosing one, so that you are comfortable with who you want to sell your house with.

Research shows that 7% of buyers found the home they bought by visiting an open house. This tactic is worth it and can complement well with other digital marketing activities such as listing and email marketing. However, holding an open house is not required when working with a real estate agency. It is common for purchasers to utilize websites or apps to hunt for a property, and over 50% found the home they eventually purchased online. At ULIX, we work closely with the seller to tailor their property selling plan and choose what activities work best for them.