Realvolution

Step-by-Step Guide to Selling a Calgary Home

By Jason Todd, Calgary REALTOR®

Selling a home in Calgary means more than putting a sign in the yard. Below is the full flow from first meeting to possession day, plus the prep, pricing, marketing, and negotiation pieces that actually move the needle.

Wondering what your place is worth before you start? See What Is My Home Worth? or request a Home Value Estimate.

How Do I Sell a Home? Here's the Basic Flow

We will get to the key elements of a sale, but here is basically how it all flows.

1. Meet with your REALTOR® to establish a time frame, go through comparables, and discuss the marketing strategy.

2. Sign the documents to make it all go. Here is some of what will need to be signed initially:

  • Consumer Relationship Guide - This shows the different types of relationships you can have with your REALTOR® when buying or selling. It also explains the duties your REALTOR® has to you and the duties you have to your REALTOR®.
  • FINTRAC - This form validates your identity for the Government to ensure you are not financing terrorism or attempting to complete a real estate transaction to launder money (for real).
  • Illegal Drug Manufacture / Grow Op Listing Acknowledgement - This form says that, to your knowledge, your home is, or never has been, used as an illegal grow op.
  • Exclusive Seller Agreement - This form is the meat and potatoes of how your home will be sold.
  • Initialed Title - Every person listed on title must initial a copy of the title.

3. Get the photographer in for the pictures and book a full measurement of the home.

4. The MLS® listing gets built, the sign is hammered in, and the listing goes live.

5. Keep the home show-ready. The home stays in a constant state of clean and tidy so viewings can be accommodated at almost any time and little preparation is needed for open houses.

6. An interested buyer submits an offer through their REALTOR® in the form of an Offer to Purchase. This form outlines the buyer's terms for buying the home.

It is normal to get an offer with basic conditions attached. The most common condition is Subject to a Home Inspection, which allows the buyer and their lender time to inspect the home and ensure nothing is wrong. The second most common condition is Subject to the Buyer Securing Financing - their bank agrees with the home's value and gives final approval of the buyer's financing application by a certain date.

7. Negotiate. You have done your homework; now you and your REALTOR® begin to negotiate with the buyer. Are the conditions and terms acceptable? Is the amount offered enough?

8. Close and hand over the keys. Once those conditions are lifted, we fast-forward to about a week before possession day when both parties sign documents with their designated lawyer. On possession day, when the seller's lawyer verifies funds have been received from the buyer, the keys are released.

Prepping Your Home

Staging a home for showing is key to getting your home sold quickly and at maximum price. Prospective buyers need to envision themselves living there, so it is important to remove as many distractions as possible.

Start by decluttering shelves, mantles, drawers, and counter tops. Remove a good portion of the clothing regularly hanging in bedroom and walk-in closets. Minimize ornaments, family photos, and any type of personalized item. Have discolored and dirty carpets cleaned, ensure the kitchen and bathrooms are spotless, and avoid the use of heavy perfumes and air fresheners. Having your furnace and hot water heater serviced gives the impression that you are diligent at maintenance.

Remember, dirty is worse than dated.

Build a Great Listing

Almost all prospective buyers will use the MLS® System as their primary search tool. Working with your REALTOR® to get your listing just right can take time, but it is the most important element in the sale process.

Price It Right

MLS® is the perfect tool for determining a listing price range. The system gives users access to over 10 years of bought-and-sold pricing data and listing information. Based on what is for sale, what has sold, what is under contract, and how the market is trending, finding an ideal listing range should be straightforward. Your REALTOR® should be able to suggest a specific listing price range. The final price is up to you.

For a deeper dive on pricing from local sold data, read Do I Need to Drop My Price, or Did I Just Price Wrong on Day One?

Market the Property

Trusting the sale of your home means putting your faith in a network of experts in the real estate market, property marketing, and loan processing. I work hard to keep my finger on the pulse of the Calgary market, noting fluctuations and corrective strategies that make your home sellable in any market.

We can work together to decide on the right list price and marketing plan. The goal is finding the right buyer for your home - not just getting it on MLS® and hoping.

Reach Buyers Everywhere

Buyers still find homes through other channels, so I also use proven real-world marketing techniques. For sale signs can feature a unique keyword that buyers text to get your listing instantly sent to their phone. When they text, I get their contact information and follow up immediately to schedule a showing.

Adjusting the Price

The worst input is no input. You need inquiries and showings if you expect to get an offer. If your listing write-up is solid, your pictures look great, all of your marketing is in play, and open houses are being done - but you are still not getting any activity - it may be time to lower your price.

Stay flexible and be realistic.

Offers and Negotiation

In real estate, there is no such thing as a "Master Negotiator." If a buyer does not think your home is worth what you are asking for it, there is no way to force, trick, or out-maneuver them into paying that price. It is as simple as that.

Negotiating is 100% about preparation and 0% about skill. Here are a few points to consider when preparing for an offer:

  • Thoroughly research your neighbourhood and homes like yours that are for sale and have sold. Knowing what your home is worth takes most of the stress out of negotiating. If you cannot get what you 100% know your home is worth, walk away.
  • It is hard to argue with facts. Knowing the comparable properties inside and out will help you back up offers and counter-offers with old-fashioned logic.
  • Respond to every offer, even the terrible ones. You cannot blame a buyer for trying to find out what your bottom line is. Know what your final number is and respond to even the worst offers with a counter-offer.
  • Know exactly what leverage you have. Market conditions, time on market, possession dates, price, property deficiencies, and inclusions (like appliances being included or excluded) are just some of the elements to factor in.
  • As important as the research is, you (as the seller) need to be realistic about what your home is actually worth. Choosing an agent because they say your home is worth more than what the other agents said it is worth is a big mistake. Go with an agent that feels right and presents the most logical value based on facts.

One final thing: while negotiating is not a skill, it does require the proper attitude and confidence. Your REALTOR® needs to be cool under fire when dealing with pushy, aggressive agents - and there are many of them out there. A quiet, soft-spoken agent that lacks confidence is not the best choice when you want top dollar for your home.

Questions Along the Way?

The Hey Jason series answers common seller questions with local MLS® data - timing, pricing, tax assessments, and more. Browse Ready to Sell in Calgary or drop me a note if you want to walk through your address.

Jason Todd | Calgary REALTOR® | (403) 255-5555 | jasontodd.ca

or another way