How to Hire a Great Edmonton Realtor when Selling (& Buying)
Be cautious with any REALTORS who charge upfront fees! Most Real Estate Companies DO NOT charge up-front fees. All expenses should be paid by your Realtor from their own pocket. Once your home is SOLD, the Realtor will receive the remuneration you have agreed upon in your listing agreement. In the event your home does not sell during the term of the agreement - unless otherwise written - there is NO CHARGE.
There are almost 4000 licensed REALTORS® to choose from to help you sell your Edmonton home. When a municipality is a hot market, anyone can sell a property, but great real estate agents are able to sell in any market.& In a soft market or "buyers market", it is crucial to choose a REALTOR® who knows how to sell houses or you can become an expired statistic. Currently (2019) in Edmonton about 40% of homes are selling.
There are a few questions to ask a listing real estate agent prior to having them in your home, which will eliminate inexperienced agents and save you time and money. When REALTORS® are on a "Listing Appointment", the intention of the agent is to get you to sign the agreement to put your home on the market. After an agent has completed their marketing plan, strong agents will ask for the business. A weaker agent will not.
The three biggest mistakes sellers make when selecting an agent is basing their decision solely on commission, price, and the ability to market your home.
Lowest real estate commissions:
Agents in Edmonton have business expenses, which can run into the thousands every month. Part of these expenses is the cost to market your home. If an agent is listing your home for a lesser commission, don't expect them to pay money they don't have to market your property. A good agent will not ask for any money upfront. Why would you pay someone for a job which has not been done? There is always a reason why a broker or real estate agent would discount a real estate fee. Ask yourself why. Is the agent desperate for business or unqualified? Do you want to work with a desperate agent?
Highest Asking Price:
In the real estate industry, there is a term, called "Buying the Listing". This means, an agent has told you, your home is worth more than it really is, just to get you to sign the listing agreement. Expect to reduce or price once or twice during the agreement or worse, be added to the Expired list (Homes that do not sell). REALTORS® already have an idea of what your home is worth, even before stepping into your home. Beware of an agent who is trying to buy the listing.
Ability to Market Properties:
Today, almost every buyer and seller start the home buying and selling process online. You may want to use "Mom and Dads REALTOR®, but are they tech-savvy? There is so much more to marketing a home than putting it on Realtor.ca. Anyone with a real estate license in Alberta can do this, you don't even need to live in Edmonton. Finding a qualified buyer who is ready, willing, and able to purchase your home is more valuable to you than generating leads.
If your home is not exposed on the internet, by a tech-savvy Agent, buyers will not find it. Online advertising and property websites are now a basic requirement in modern home buying and selling. REALTOR®’s success also depends on how well they can market homes. Google the agents' website, prior to inviting them into your home. Find out how many listings the agent is carrying. If the Real Estate Agent only has one or two listings, they may be part-time, may be more comfortable working with buyers, or may not know how to market your home. An agent who is carrying too many listings can be overwhelmed and you may end up becoming a number instead of a client. A good rule of thumb is, hire an agent who carries 10 - 20 listings at a time, this is usually an indication of an above-average real estate agent.
The bare minimum marketing you should expect from your agent is:
- Professional yard signage.
- Lockbox with electronic monitoring
- Follow-up reports on buyer showings with feedback to the seller
- Staging advice to make your home more attractive to potential buyers.
- Digital targeted marketing.
- MLS exposure with a minimum of 30 professional photographs
- Virtual tour.
- Distribution to major websites.
- Updated CMAs after 30 days including the recent sales
- The ability to track online buyers
During the listing appointment, there are a few things that need to be noted which include how long was the agent in your home. Eliminate agents who view your home and arrive at a "listing price" within a short period of time. Although their price may be accurate, they haven't taken the time to show you how they arrived at the price or what they do, and how they get homes sold. A good listing agent will show you comparable sales, pending sales, actives, educate you on the current market, and show you their marketing plan. If the agent has no statistics, home sales are located in a different community, or are not prepared, could be a red flag.
A great Edmonton Real Estate Agent will have spent time prior to meeting you, completing research on your home. They will have all the necessary information to price your home accurately. (highest possible asking price to attract reasonable offers) The agent will be prepared for anything including objections or concerns you may have. They will take the time to complete an accurate CMA, community absorption rate, thoroughly go over their marketing plan, and address any unforeseen concerns they may have prior to asking for the listing. This is a valuable asset to the hiring experience.
Were all of your concerns addressed: Pay close attention as the REALTORS® goes through their marketing plan. Many of your concerns will already be addressed by a good agent. Pay attention to what is said. If it is mostly about how many homes they personally sold and how quickly, expect them to suggest a lower selling price below the true market value. These agents want to get your home sold as quickly as possible and move on. If the agent has not addressed most of your concerns. This can be a red flag.
Hire a professional: A huge misconception is every agent deals with the same type of buyers and sellers. In fact, there are agents who only list and agents who only deal with buyers. Not all agents work in all price ranges. In Edmonton, there are real estate agents who specialize in mobile parks. They know how important it is to have the "criminal check" completed prior to writing an offer. An agent who specializes in luxury homes should have the extra knowledge required for selling a home under a company name, know the differences between the brands and grades of hardwood.
If you are relocating, a relocation specialist is the best. They have contacts with other relocation REALTORS® who they have already done business with and can recommend a great agent for you at your destination which will make for a smoother move. Go with your instinct: Selling a home is a major decision. You need to like, trust and feel comfortable with the REALTOR® you choose. Personality and character traits are also extremely important but don't show on paper. Buying and selling homes in a soft market, can take time, and choose the right agent will be a positive experience. Choosing the wrong agent can lead to months of frustration and an unsold house.
Contact us today for your FREE HOME EVALUATION
How to find a QUALIFIED buyer
Finding a QUALIFIED buyer for your home is not easy. Everyone wants to own real estate, but not everyone can qualify. If you have been trying to sell your property and are finding it difficult to find a buyer for your home, there are some tricks to the real estate trade. Especially now with the government restrictions put upon us with qualify at 2% higher than your interest rate.
Open Houses in Edmonton can be hit and miss. You can't put up signs and expect a buyer who is in a position to purchase, who thinks your home is perfect and is qualified to purchase to walk off the street and put an offer on your home. It is not that simple. Keep an open mind. Most buyers attending Open Houses are still in the "looking stage". Open Houses can receive constant foot traffic if done right. Read more on how to have a productive open house.
Adjust your expectations
Not everyone who inquires about your home is really interested. There is no such thing as a perfect home. You may love your home, but the reality is, your home is only a tangible commodity. Appraisers, inspectors, lawyers, financial institutions, and BUYERS can appreciate the effort of any upgrades, but it really comes down to money. Even if you find a buyer who is willing to pay more for your home because it staged, does not mean it will be appraised at the agreed-upon price, therefore cannot sell.
Talk to REALTORS
Expect calls from Edmonton Real Estate Agents. Listen carefully. You will know in the first few minutes if they are looking to help you sell (list) your home or have a qualified buyer who has inquired through them. Buyers who are working with real estate agents in Edmonton, are under a signed Buyers Brokerage Agreement and must fulfil their obligations if interested in your home. The real estate agent will be asking questions, lots of them. The agent is working in the best interest of their client buyer and is working in the best interest of their client.
The agent may be looking for more business and is calling to list your home. Take the time to talk. You may not want to list your home at this time, but if you are the one asking questions, you may learn something which will help you sell your home on your own. There are many real estate agents who do not deal with buyers and specialize in listings only.
There is more to marketing a home than putting your property on the MLS which impacts Realtor.ca, putting a sign in the front yard and adding a key box to your entrance. Advertising by word of mouth is a big advantage. There are almost 4000 Real Estate Agents associated with the Edmonton Real Estate Board who talk to each other. Tell your friends, family, co-workers, doctor, dentist and everyone you meet. Marketing your property to attract buyers who are qualified and in a position to purchase a property takes work and experienced, tech-savvy REALTORS have the know-how. This includes knowing the absorption rate in your community.
Living in Heritage Valley
Heritage Valley is one of Edmonton's largest and newest districts located in far southwest Edmonton established in 2001. The nearby Currents of Windermere and Southgate shopping centers offer a variety of retail, dining, and medical and dental options. The Heritage Valley Town Centre will also provide many new shopping opportunities when construction is complete. Close proximity to the Anthony Henday, as well as the major bounding roadways, provides residents with access to amenities throughout the city.
The international Airport, Jagare Ridge Golf Club, and South Edmonton Common are also nearby. Each community in the Heritage Valley area has plenty of green spaces, and walking trails for homeowners to enjoy. Most of the Streets in the Heritage Valley Area are named after Edmontonians. There is also a new future hospital with plans underway and plans to extend the LRT.
Located in the furthest south portion of southwest Edmonton lies the Heritage Valley. Recent homes construction in these communities has only recently been built or are new builds. The Heritage Valley has become more popular with a younger demographic, allowing them to own air-tight homes with high-efficiency appliances keeping real estate ownership at a minimum. If you don't mind waiting for landscaping to be completed and live with the noise of nearby constructed, the Heritage Valley is a great place to find some real estate deals. The Heritage Valley encompasses fifteen southwest Edmonton communities.
Callaghan, Richford, and Rutherford are the most prestigious communities in the Heritage Valley Area, while Allard and Blackmud Creek feature more value per square foot than other Heritage Valley area homes.
View all homes for sale in the Heritage Valley or search by community.