To sell your property faster and at a better price, the first thing to do is find a reputable real estate broker. But before you sign with anyone, here are some important questions to ask. To make sure you’re really working with the real estate professional who will best represent your interests!
1. What are your accreditations?
To sell your home, you should work with a real estate broker accredited by the APCIQ (l’association des courtiers immobiliers du Québec) and the OACIQ (autorité du courtage immobilier du Québec). These two organizations ensure that the person is duly licensed by the industry, has access to Realtor.ca, and has all the knowledge to market your property and find suitable buyers. If you still have doubts, you can always check a broker’s background with the OACIQ.
2. How many years of experience do you have?
Check with the OACIQ to find out how long the broker has been licensed.
Anyone with over 20 years’ experience, like Katia Samson, who is also a chartered real estate broker DA and director of her own agency, means you’ve found the real gem! Since 1996, Katia has sold over 1,900 properties, and in 2019 she has finalized nearly 150 transactions.
While a broker’s past performance is no guarantee of a quick and easy sale, a good track record indicates that he or she is a real estate professional who understands market mechanisms to facilitate the sale of your property. Also, be sure to check out the broker’s website and social networking accounts to get a good idea of who they are and how they present their properties for sale.
3. Which neighborhood do you specialize in?
Finding a real estate expert who knows every facet of your neighborhood inside out is an undeniable advantage. Does your broker also live in your area? Perfect! That probably means she’s aware of upcoming developments, urban plans for businesses or other projects that could affect the value of your property, how quickly it will sell, and how much you can get for it. She also knows what local residents are looking for in terms of property type and price. Remember, you’re selling not only your home, but also your area.
4. How do you price your property?
A thorough knowledge of the market is essential to determine the right price for the type of buyer you want to attract. A price that is too high, in comparison with a similar property, will remain on the market much longer than desired. On the other hand, a price that’s too low can deprive you of an attractive profit.
Teaming up with a real estate broker who knows your neighborhood and similar properties sold recently will help you determine the most attractive price for potential buyers. Make sure your broker can also answer all your questions, as this is one of the most important transactions of your life.
5. Who will take care of me?
Some agencies operate with several brokers on the same property. Having more brokers can help with viewings, but sometimes your questions can go unanswered because more people are involved. Also, will your broker be in charge of the visit, or will she simply give the key to others? It’s common for some broker-buyers to ask broker-sellers to collect the key from their office. If a broker works alone, how will he be able to organize several visits if he’s already busy with other customers? Make sure you’re comfortable with the type of arrangement the agency is proposing, and ask lots of questions before committing yourself.
6. How much money will I have to spend to sell my house with you?
Once again, not all agencies operate in the same way, so it’s essential to be aware of the costs involved in the real estate transaction. Ask your broker about all the costs involved in the sale: bank penalty, mortgage discharge, administration fees if you live in a condominium, cost of the new certificate of location, commission, closing costs. Are home staging and photos included? Everything must be clearly detailed in your contract. And don’t hesitate to compare brokers’ fees!
7. What are your marketing tools?
Aside from listing on MLS, a broker should have a detailed plan of action for how your property will be presented to potential buyers.
Some questions to ask: Where do you advertise your properties for sale? Do you work with professional real estate photographers or videographers? Can buyers see the property through a virtual tour? Show me some examples of your social network marketing…
8. How do I prepare my home for sale?
If you’ve been living in your current property for a long time, you’ll probably need to carry out a few repairs or small renovations to refresh it. Your broker will most likely have a number of suggestions: how to de-clutter properly, home staging, and so on. Make sure you agree on the time and money involved before you put your home on the market. For more useful information on how to prepare your home for sale, click here.
9. How often will we be in touch?
Knowing how often your broker will be in contact with you is important for your well-being. He or she should also be reasonably available to answer any questions you may have about selling your property. Make sure you agree on the type of communication you prefer. Will texting suffice, or would you prefer to be able to make a call at any time?
10. How long will it take to sell my property?
In the current Montreal real estate market (summer 2020), a property can sell in three weeks or less. If the market is very active and it still hasn’t sold, it probably means that the price is too high, or that there’s a problem with the property that needs to be addressed.