What Every Seller Wants to Know - Our Most Frequently Asked Questions
Got a question? We've got answers! At Team Broady, we always make a point to take the time to sit down with our clients and answer any questions they have about the real estate sales process. Doing this allows us to better understand their unique situations and form an even deeper connection with our clients to ensure that they enjoy the smoothest possible client experience.
We know how stressful selling a home can be, even in a seller's market, so we've decided to share the top three most frequently asked questions from sellers.
What's the best time of year to sell?
The best time to sell is when you’re ready! Don't try to time the market. People who make this mistake often find themselves in a rush, and therefore cut corners or omit important steps in the process.. or, they wait too long and miss a potentially great opportunity when the timing was right.
Since approximately 2017, we've seen a shift in the Montreal real estate market. The typical “spring market” that people used to talk about has since evolved. We used to see a noticeable influx of inventory and a surge in activity between the months of March and June. We’d then see a slow-down during the summer, and another rise in activity during the fall. Things used to get fairly quiet by mid-November and into the New Year.
These past couple of years however, have been quite different. The market seems to be moving in high gear all year round! There may still be a few weeks here and there where things slow down a little, like the construction holiday in Quebec or the weeks between Christmas and New Year, however, listing at a time when no one else is might work to your advantage. The reason why is that there are fewer houses on the market, which means less competition.
Why would I pay for a pre-listing building inspection when the buyer will do their own anyway?
It's good to know the ins and outs of your home before putting it on the market. As a seller, this gives you complete peace of mind, and you'll avoid unpleasant surprises following the acceptance of an offer. Doing a pre-listing inspection doesn't mean the buyer won't necessarily do their own, but it will come with fewer surprises if they do. For example, you'll already know you have vermiculite insulation in your attic, and can then have it tested for asbestos ahead of time. You can also determine whether you have any aluminum wiring, foundation cracks, pyrite issues, or mould problems. Trust us when we say that it’s to your advantage to know about these things, and to be in control of them, rather than crossing your fingers and hoping that the buyer or his inspector don’t find them. Neither buyer nor seller want problems like these coming as a massive shock in the middle of a transaction. The potential repercussions stemming from building inspection issues are two-fold. Either the buyer will ask for a significant reduction in the sale price, or he can exercise his right to cancel the offer. Either way, it’s a stressful and potentially costly situation you could have easily avoided.
What's your commission? Will you do it for less?
Our standard commission is 5% plus taxes. When we sign an exclusive listing contract with a seller, the seller is committed to covering the full real estate commissions for both sides of the transaction. This 5% fee is split 50/50 with a collaborating broker representing the buyer in the transaction. This means 2.5% for each party.
Similar to a rack rate in a hotel, our standard commission is usually non-negotiable. However, there may be circumstances when this standard rate can be negotiated or adjusted.
You’ll always find somebody willing to do it for less. But as the old saying goes... you get what you pay for!
Are you thinking about selling your home? Do you have other questions for us? We're always happy to help. Don't hesitate to reach out to Team Broady today by emailing firstname.lastname@example.org or calling 514-613-2988. And stay tuned for next week's article, where we answer our most frequently asked questions from buyers!