FAQs

via GIPHY

How is the real estate market right now?

A frequently asked question from home sellers before listing their home for sale is related to the local real estate market.  There are many market indicators that a top-producing Realtor should be able to share with you to help explain the condition of the local real estate market.  One of the most important indicators of market conditions is average days on the market.  The average days on market can indicate to a seller how quickly homes are selling when listed for sale.

Other examples of market condition indicators that a top producing Realtor will provide a home seller before listing their home include absorption rates, number of closed transactions year-over-year for a given month, average sale prices, and the average list price to sale price ratios.

When is the best time to sell my home?

When is the best time to start growing a tree, well the best time is 20 years ago, the second-best time is today. Haha...  This frequently asked question cannot be answered with a simple answer.  Every real estate market is different, and it may go up and down with other variables other than a season.  In most cases, the spring months are the best time to be selling a home.  The spring months will vary from community to community.  For example, the spring market may start in Edmonton around April, May, and June while the spring market in Kelowna or Vancouver may start earlier in February or March.

Since every home seller's situation is different, you should discuss the timing of your home sale with your Realtor.  In some cases, selling a home in winter gives you an advantage, but other times they're just aren't any buyers. It's not always ideal to wait until the spring market.  This is due to a combination of many factors but serious buyers are always looking for a home, every market, every season.

How Much Are Real Estate Commissions?

When you hire a real estate agent, they will provide services. Services come at a cost, and one of the costs involves realtor listing fees, also known as a brokerage commission fees. The fee covers the commission of both the seller and buyer’s agents but is strictly paid by the seller. All commission is paid when the sale of the home is finalized. 

According to the Real Estate Council Alberta, real estate agent commission fees depend upon the real estate agent. They will usually do one of three things:

• Charge a flat fee for all services rendered

• Charge a split or fixed percentage of the home’s final sales price

• Negotiate the commission with sellers

The MLS® listings will show what the seller is offering as posted commission amount, therefor any agent who shows a home knows exactly what they will be paid as a commission

What should I disclose to potential buyers?