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So – you have decided to sell your property. It is a big decision and one you have presumably not taken lightly. So why would you not apply the same care and attention to choosing the right agent to help you? There are a few things you need to know right from the outset – all of which an experienced and skilled real estate selling agent will be able to help you with:
Your house might be beautiful, and your price expectation might be equally attractive – but you will not sell if there is no market. Your agent should be able to give you an up-to-the-minute indication of how hot the market is, how big an audience of potential buyers your property is likely to attract, and a good idea of how you should position yourself for maximum results.
The value of your property depends on a great many factors. There are the basics: size, location, condition, etc, but you also need to know the other things that will impact a potential buyer – the closest schools, the ease of the commute, and local amenities for example. Ultimately, the value of your property is not what you want to achieve from the sale, it is the price someone else is willing to pay.
The price of your property is different from the value. While there are various factors that affect the value, property prices are what drive the sale. Need to move quickly? You will have to price lower than the market value. That might not always be a bad idea though – underpricing can often lead to a competitive bidding situation and actually drive up the ultimate sale price.
The process can vary between sellers, with unique circumstances and requirements, but broadly speaking the steps that you will take are.
The journey begins with our initial meeting. We'll discuss your goals and assess your property, providing realistic expectations & recommendations to boost its appeal.
Together, we'll set an optimal listing price based on market analysis. We’ll craft a customized marketing plan including multi-media and targeted online/offline strategies to showcase your home effectively.
Our plan is in place. Your property is now on the market. We will communicate effectively with you, potential buyers and other agents to coordinate and conduct property showings with qualified buyers.
We evaluate and negotiate offers from potential buyers, working closely with you to secure the best deal. Once accepted, the offer sets the stage for the next phase.
We work with legal representatives to ensure a smooth transfer of ownership, and for you to receive your money from the sale as quickly as possible.
Even after the sale, we’re here for you. Our clients benefit from our expertise & that of our professional network.
It can be easy to forget the different costs involved in selling a property in Winnipeg. Here is an overview of some of the key costs:
Legal fees – Disbursement costs & the service cost of having the sale documents executed and encumbrances discharged.
Mortgage – Any remaining loans, porting or discharge fees as well as early repayment charge if applicable.
Adjustments for ownership – Unpaid expenses such as property taxes & utility bills.
Capital gains tax – Tax applied to the increase in value of an investment property. Certain deductions are made when calculating the ‘gain’ including: land transfer tax, professional fees, improvement costs & mortgage interest.
Realtor commission – The cost of services provided by real estate professionals.
Goods and services tax – also known as GST, the tax applied to the services provided during the property sale.
Miscellaneous – Additional expenses may include home improvements & repairs, staging costs, moving expenses and inspection fees.
If you have any questions about selling a property in Winnipeg, or across Manitoba, then please do not hesitate to get in touch. The team at The Leathwood Group is always happy to help.
The Leathwood Group is an award-winning Winnipeg real estate company, founded on the principles of honesty, client satisfaction, and community spirit.
Bryan Leathwood Personal Real Estate Corporation
Roan Van Eerd Personal Real Estate Corporation