Dennis Philps

There are several models that sellers can choose when selling their place of residence in Edmonton.  They can sell by owner, sell with a discount brokerage, sell on the Multiple Listing Service with a mere posting or they can sell with a full-service brokerage.  Some fees-for-service are involved with each model depending largely on the range of services provided.

For many sellers, listing their home for sale is a march into unknown territory.  They are unclear about important details like the marketing and sales process, the legal and financial risks, the options along the way, the legal contracts and their wording, the offer presentation, the deposits, the conditions, and so forth.  The questions cascade through their minds: What do i need to do to get my home ready for sale?  What should I do with my valuables?  What is a fair asking price for my property in a fluid marketplace?  How do I know if a potential buyer who wants to view the house is in fact qualified to do so?  If a buyer brings a purchase contract to me, how do I know whether or not my interests are protected?  How much of an initial deposit should I request and to whom is that deposit made out?  How do I negotiate a fair selling price since I have little or no experience in that important phase of the sale?  How do i know that my interests are clearly being protected along the way?  The questions are endless and the cause of sleepless nights!

Precisely because of these important questions, the seller must answer the question–How much representation and service will I require to sell my home and still keep my sanity?

If a seller chooses to sell by owner or to list on the Edmonton Real Estate Board’s Multiple Listing Service with a mere posting [the listing appears but is unrepresented by an agent], they have chosen to walk down the road by themselves.  This can be a risky choice filled with potential heartache if some glitch occurs along the way with which they are unfamiliar.  At the least, such sellers should seek legal opinion from a real estate lawyer beforesigning any documents.

Even if they have been down that road before, many, for peace of mind, will still choose to rest behind a third party (ie., an experienced real estate agent)  and the promise of fair representation.  They want the assistance of a trusted professional to guide them safely through the myriad of details to a successful conclusion.  At this point, they will have two alternatives: the use of a discount brokerage or the use of a more traditional brokerage.  The difference largely revolves around the amount of commission being assessed.

Again, the savvy seller should be quite certain, before making a final choice, about the level of service each alternative will offer.  Will he/she provide a list of several clients who have recently used his/her services so that the seller can verify the facts?  What will be the specifics of an on-going aggressive and effective marketing campaign? Will there be regular progress updates from the listing agent? Will there be helpful feedback and suggestions following showings?  Will the listing agent handle all inquiries about the property?  Will he be present for all offer presentations?  Will he/she adequately answer the question, ‘What advantages and disadvantages will I face if I offer the defined commission structure being recommended’?

After all, the old adage, ‘You get what you pay for’ probably applies!  Therefore, satisfy yourself that the real estate goal of yours – to sell your home as quickly as possible for top dollar with a minimum of disruption to your life–will be accomplished by the model you choose!