The function of the CMA is to tell you where you should price the home so that it generates enough interest to receive offers. So often, in changing market conditions, you will find that although past sales suggest a certain price, you may end up at a slightly higher or lower price, based upon the supply and demand of other homes that are for sale in the area.
Preparing a listing is pretty straight- forward and mainly consists of paperwork. The first document is the Seller Designated Brokerage agreement which outlines the relationship between you and I. The listing Addendum, is a data collection sheet used for uploading the details of your property to the Multiple Listing Service. The PCDS is a form that you will use to make any declarations about the home to prospective buyers. Other required forms are more informational regarding leases, etc.
Once the paperwork is complete and we have your home looking it's best, I'll have a series of professional photographs taken and get the listing published. That's when my custom marketing process begins. Unlike other agents who often group their listing in an ad or flyer, I design and print a property postcard that is unique to your listing and distribute it in select neighbourhoods across the city. I also push it out via social media, this website and via email/newsletters to my extensive list of clients, colleagues and contacts. As part of this process, I often ask clients to write a "love letter to the home" so I can get a sense for the features and benefits that only someone who has lived there would appreciate. It's often a fun way to bid farewell to your home, so stay tuned for that.
Once your home is listed it's a good idea to keep it tidy and organized so you are ready for any interested parties that want to book a time to come view the property. It's best if you are not at home during a showing to give prospective buyers a chance to view the house on their own. A secure "lockbox" will be placed on your door allowing agents to access to your home during a showing. You are often provided 24-hours notice for any bookings but it can depend on the property and level of demand.
Receiving an Offer:
Put some champagne on ice as this is an exciting time for anyone selling their home. Upon receipt of an offer you typically have 24-hours to review and either accept, reject or counter it. Countering often requires a difference in price, removal/addition of conditions etc. The countering process can take some time so it's important to have patience during this period. Once you are pleased with an offer it is officially accepted. and the conditional period begins. This allows time for the buyer to complete a home inspection, and confirm their financials, insurance etc.
Once the big day arrives you'll need to ensure your house is empty and clean before the buyers can complete their final inspection to ensure the house is the same as when they first saw it and any agreed upon adjustments/repairs have been taken care of. Once the inspection is complete the buyer will release the funds and once you receive them, you can pop the cork on the bubbly and celebrate the final sale!