The process of selling in Canada is effectively controlled by Multiple Listing Service. Over 80% of sales transactions take place though this medium.
Under MLS, the members of the service, share the information among each other to expedite the process of selling. The access to private data is not open to the public.
The process of selling a property through the services of MLS can be divided in 5 different stages.
Processing a MLS Listing:
This includes things like, collecting the pertinent information about the property, such as measurements, legal description, zoning, liens if any, Title, Insurance, property taxes and converting this to the format that the board accepts and then processing it through the MLS system. The important information about the property is then made available to the consumers by CREA’s on its website however, it does not carry the names of the owner, his contact information or any thing that would help the consumer to contact the seller directly. He must contact the broker representing the seller to get more information and to see the property.
Marketing the property:
This includes all those steps the broker takes to expose the property to the prospective buyers to bring in the sale. This includes, but is not limited to, activities like, advertising, in papers, sign on the property, holding open houses, face to face meetings with prospective buyers, sending flyers, advertising on the net, canvassing, etc. etc.
Servicing the Listing:
Encompasses answering questions and queries of consumers, brokers, lawyers, mortgage broker, building inspectors, appraisers, providing answering desk, making appointment and keeping a log of the activities to facilitate the sale and seeing it through the closing.
Representation and Negotiations:
This is the most important phase for the sale of the property. This is where the knowledge, expertise and experience of the agent shines and can have a huge impact on the final outcome. It includes representing the Seller in negotiations with the buyer / buyer’s agent. The goal here is to promote and protect the interests’ of the seller and maximize his returns from the sale of the property.
During any of the stages stated here above, there may be situation where the seller needs the advice concerning any issue effecting the sale of the property.
For More Information Contact Your Local Real Estate Specialist.