Sellers FAQs

Commissions

How can you offer to reduce the commission for sellers and give cash back to buyers with out sacrificing the service ?

Since 2006, we have have made our systems more efficient and more productive, we utilize technology, we have reduced costs such as branding our selves on bus benches and rely on word of mouth advertising and lastly, we are just better at what we do then our competition. Many of our clients who have used other agents indicate that even though they have paid less for our services, they felt the service they received was even better than when they paid higher commissions.

Will lower commission deter other agents from selling my house?

No way because we do not reduce the commission we pay to the buyer's agent, we still offer a typical rate of 3% on the first $100,000 and 1.5% on the balance. It does not make any difference to other agents what you pay to us, as your listing agent which is where we reduce the fees.. If an agent brings an offer you accept, they will receive a commission of 3% on the first $100,000 and 1.5% on the balance of the sale price.

Do you have any up-front fees or non-refundable fees?

No! All of our commission are paid when you sell your house, nothing is paid upfront.

Do you consider yourselves to be a discount brokerage?

No! We believe the notion of discount brokerage came from companies that provide very limited services and offer very low fees to the buyer's agent compared to typical rates. This is not how our commissions work because we do not reduce the buyer's agent commission. The service we provide is anything but discounted and we go above and beyond for our clients.

 

General Questions

I have to sell my current home and I would like to buy a new home, what are my options?

In general you have three options, some of these will depend on your financial situation:

  1. Place your home on the market and wait for an offer before you make an offer to purchase another home
  2. Find a home to purchase and make an offer subject to the sale of your current home
  3. A financing option called "bridging" allows you to carry two mortgages. That way, you can purchase your new home without the conditional sale of your existing home.
What do you feel the hardest part of selling a home is for people?

We feel the most difficult part of selling is to disconnect your personal ties to your home. Once your property goes on the market, it becomes a product that is for sale in a marketplace. It is very important to stay very objective through the process in order to accurately assess the condition of the property and the pricing compared to your competition.

How long can I expect to wait for my property to sell?

Depending on the market, this could take 2 days or 120 days or more. In a market where there are large amounts of houses for sale and fewer buyers, it can take 90-120 days to sell your property. In a market where there is little for sale yet many buyers, your house could sell in just a few hours! Pricing your property higher than your competition will likely result in a longer sell time. It is the first two weeks that your property is on the market that it is the hottest and most likely to receive an offer if priced well!

Home Inspection

Why do buyers want a home inspection?

A home inspection is a part of a buyers due diligence to ensure they understand what they are purchasing and to ensure there are no major problems with the property. A buyer also needs to understand what types of maintenance costs they can expect in the first few years. Normally, the cost of home inspection is the responsibility of the potential buyer.
If you are concerned there may be a major problem with your property then you can pay to have a home inspection completed before you list your property for sale.

What happens during a home inspection?

The home inspector will arrive at the property and spend between 2-3 hours inspecting the property. The major items they will check are the roof, furnace, and hot water tank. The will check the attic for any signs of water damage and the amount of insulation. They will also check the electrical panel, the plumbing and the overall condition of the property both inside and out.

Offers

Should I accept the first offer that comes in?

This depends. There is a saying in this business that sometimes "the first offer is the best offer". Our advice to you on this is that it depends on the offer. You should always try to work with every offer you receive to see if you can find a solution that is mutually beneficial to both you and the buyer.

Marketing

What can I do to help my home sell?

There are a variety of things you can do to help sell your home. This is exactly why you hire a Real Estate Agent to market your property! We provide a complete list of things to do as part of the services we provide to our clients.

Do you place the properties you list on the Multiple Listing Service (MLS®)?

Absolutely! The Multiple Listing Service® (MLS®) is the number one market tool that we can offer to our clients.

Pricing

Will I get an idea of what my house is worth by touring open houses?

Personally, we feel this is a bad idea! Here is why:

The prices you see at the open houses are the asking prices not the selling prices. These prices can vary largely. So, it is important that you do not base your house on asking prices. Secondly, the general consumer is not familiar with what buyer trends are. What you might like or want, may be something totally different than what the average buyer is looking for and therefore affect the pricing.

How do I get an estimate of what my home is worth?

As a complimentary service to potential sellers, we will provide a Comparative Market Assessment that gives you an idea of what your property may sell for if you were to place it on the market.

What is a Comparative Market Assessment?

A comparative market assessment is simply a calculation of what your property may sell for. To assess what your property might sell for, current sold properties that have similar characteristics to your property are used to compare.

How is the price determined?

Although a real estate agent can give you an estimate as to what you can expect to sell your property for, ultimately the market is going to determine the price. The sale price of your property is determined by supply and demand: how many properties are for sale, how many of those properties are your direct competition and what is a buyer willing to pay.

I smoke in my house, is this going to affect how much I will get for my house?

Absolutely! If you are a smoker and would like to sell your house, you must be willing to quit smoking in your home or this will have a serious impact on the price you will receive. You should also have a professional clean your carpets, walls, cupboards and ceilings. With a society that is becoming more and more health conscious, it is extremely important to ensure that you do not smoke in your house while it is on the market.

Choosing a Real Estate Agent

How do I choose which Real Estate agent to use when there are so many?

Choosing a real estate agent can be a difficult task. In Central Alberta, there are over 500 licensed real estate agents and like any profession, real estate agents are not all created equal. In our opinion, here is what we would recommend you do:

  • The more transactions an agent has done, the more experience they are going to have. Don't let the number of years an agent has been in the business fool you. An agent could have 10 years experience but have only done 10 deals in each of those years. The higher the number of transactions an agent completes in a single year, the more experience they should have gained which will benefit you through this process. Ask how many deals the agent has completed in the year and where that ranks with his or her peers.
  • Look through websites and see if there are testimonials posted. Do the testimonials give you an indication of what you can expect from the agent you are considering hiring?
  • Interview more than one real estate agent to get a feel for what different agents have to offer.
  • Find out if the real estate agent is part-time or full-time.
  • Find out what types of technology the real estate agent uses (eg. Internet, e-mail, text messaging, etc.)
  • Ask how many assistants the real estate agent has, more might not always be better in this business.
How soon before I am ready to list my home, should I contact a real estate agent?

You should start interviewing agents 30 days before you are ready to put your house on the market. Any sooner than this, the market can change and the information you are given may no longer be valid.

Will I be disadvantaged using Lime Green Realty because you are not a large company or franchise?

Absolutely not...and our numbers prove this! Check out our Lime Green Realty Report Card to see the high volume of properties we have listed and sold in the last year. Besides, it is irrelevant to a buyer who has the property listed, they just want to find the right house.

Possession Date

What needs to be done before possession day?

There are a variety of things that will need to be done before possession day including shutting off the utilities, changing addresses and getting everything packed! As a service to our clients, we provide a checklist of things that need to get done.

Do I have to clean my house when I leave on possession day?

There is no provision in the contract that forces you to make sure your house is clean but as a common courtesy to the buyers, you should make sure your property is well cleaned. The buyers have paid a large sum of money to purchase their new home and the most disappointing situation on possession day is to walk into their home only to find it dirty. We have a checklist of items that we provide to our sellers that should be completed prior to possession day.

What time do I have to be out of my house on possession day?

Technically, the contract states that you will have to be out of the house by noon on the day of possession. We recommend that you try to be out well before noon or even try to be out the day before possession.

When do the buyers get keys to the house?

The Real Estate Agent that is representing the seller will hold the keys until the seller's lawyer calls to say that the funds have been received and the keys are releasable. The point when keys are releasable could be at any time during the day.

When will I get the money for the sale of my home?

If you are purchasing another property then the money from the sale of your home will be used for the purchase of the new property. If there is any money left over, the lawyer will prepare a cheque the same day or the next day after the possession day. There could be a delay if the money from the buyers is not received on possession day. In this case, the cheque would be prepared once the money has been received.

When do I have to sign papers?

The lawyer will call you approximately a week before possession to have you come in and sign the transfer or title and other closing documents.

Viewings

What should I do with my pets when I have showings or open houses?

There are some buyers that are very sensitive to animals and it could be a make or break for someone. You should try to keep your pets in a kennel (including cats) or take them out of the house. It is very difficult for a Real Estate Agent to show the property when there is a dog continually barking or a cat trying to rub up against the potential buyers.

How much notice will I get when there is a showing?

Most Real Estate Agents know that it is common courtesy to give a few hours notice. Some will give 2-3 hours notice and others will give 24 hours notice. There are times that there could be requests for showings with as little as 15 minutes notice but it does not mean you need to accommodate these showing requests. Do keep in mind that you want to be flexible when you can as these are potential buyers.

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The real estate listing information and related content displayed on this site is provided exclusively for consumers. personal, non-commercial use and, may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate.

*Compared to a typical rate of 6% on the first $100,000 and 3% on the balance of the sale price, not applicable for agent or relocation referrals.
**$1,500 cash back on a property that sells over $250,000 and $1,000 for a property that sells under $250,000. Commission paid by seller must be 3% on the first $100,000 and 1.5% on the balance of the sale price. Not applicable for agent or relocation referrals. May be reduced or not applicable on for sale by owner properties.
***Includes transactions from the CARA MLS System.