Oakville Real Estate News

Listing Your Home For Sale - What Happens Next?

Blog by Joette Fielding | June 14th, 2013

The Fielding Team Sold SignWhat To Expect After Listing

Selling your home can be an emotional and stressful time for anyone – a For Sale sign goes up on your lawn, a lockbox is installed on your door and you have members of the public walking through your house.  Knowing what to expect after your home goes up for sale can make the process much easier on you and your family.

After You Sign The Listing Agreement:
Once the listing agreement has been signed and your home is ready to go on the market, your Realtor will place your home for sale on the local Multiple Listing Service (MLS).  This service makes all Realtors in the area aware that your home is for sale.  From the local MLS sites, your home`s listing information will be sent to the public Internet site at realtor.ca.

The For Sale sign will be installed on your lawn and a lockbox attached to the front door.  A lockbox provides secure access for Realtors to show your home to their clients.  If you don’t provide easy access to your home for showings, you may lose a potential Buyer.  If it is too difficult to view your home due to access or time restrictions, or if you can`t be reached for confirmation of an appointment, many Realtors may simply show another property.  There are many other homes on the market.

Open houses
Your Realtor will want to schedule open houses as soon as possible.  That is why you need to ensure that your house is “show-ready” prior to going on the market. Make certain that all of your last-minute touch-ups and clean-ups are done prior to your list date.

Your Realtor will usually launch your home on the market with a weekday Agent Open House to introduce your home to area professionals who may have an interested client.  Traditionally the Agent Open House is followed by public open houses on Saturdays and Sundays.

During the Agent and public open houses as well as Realtor/client showings, it is highly advised that you not be present.  Realtors and their Buyers need the freedom to look at and discuss your home.  It can be very uncomfortable to do so if you are at home and may actually cost you that sale!  

Showing it off
If your home has been priced competitively, you will see the most traffic in the first two to three weeks after your house has been listed. Buyers who are looking for a house with similar features to those offered by your home will request a showing with their Realtor.  It is important that you take your Realtor’s advice into account when pricing your home.

The average length of time to sell a home depends on the area of the country that you are in and the current market trend.  If there is a shortage of properties on the market, termed a “Seller’s market”, competitively priced homes tend to sell quickly.  In a slower “Buyer’s market”, buyers can take their time to view many properties, and they will!  If an interested party comes back a second or third time to view your home, it usually indicates that they have some interest and your Realtor will keep in contact with their Realtor to assess the extent of the interest. Any offers, even one that is lower than you were wanting, is a starting point for negotiations which may very well lead to a sale.

Neatness counts
Keeping your house in a show-ready state, especially if you have kids and pets, can be one of the most challenging aspects of selling your home, but it is critical.  When Buyers view your home they are trying to picture themselves and their family living there.  If your rooms are cluttered with toys, dishes in the sink or pet food scattered on the floor, they may not be able to see past that, even if their current home is in the same state! 

Changing course
After several weeks, the initial excitement of listing your home for sale has worn off, you’re tired of trying to keep the house looking like a model home and you’re frustrated with another viewing!  Unless the market is very slow, this is the time to meet with your Realtor again.  Markets change rapidly so you may need to consider a price adjustment or some improvements that will enhance the sale-ability of your home. This doesn’t mean that you need to do a complete kitchen or bath remodel, but you may need to de-clutter that garage, repaint the black walls in the family room or put all of the basement excess furniture and yard-sale items into storage.

Selling your home is actually a three-step process:  Preparing your home for sale, showing it off, and responding to the ever-changing marketplace.  If you are prepared, especially for step three, you will manage the process of listing and selling your home well!

The Fielding Team

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