Selling a home in the Lower Mainland can be challenging. There are several reasons to work with a local real estate agent when selling your home. I’m confident every seller prefers a smooth transaction and surely no court battles or costly legal fees. What could possibly go wrong and how could a deal go sideways? It’s just real estate after all, people sell things all the time. 

This article will present the top 5 reasons to work with a local real estate agent when selling your home in the Lower Mainland.

1. Knowledge
Vancouver real estate agents possess local knowledge and experience that benefits you. As you begin the process of selling your Vancouver home you want to have an expert that can guide you through the process. A real estate agent that is local and has expertise in the Vancouver real estate market has access to a variety of stats about recent home sales in your Vancouver neighborhood, which will allow you to price your home accordingly. Along with this Vancouver real estate agents can access the local MLS. Your home will be included in the MLS, so agents helping home buyers can be shown the various details.

2. Training
Real estate agents that specialize in Vancouver are trained in the many legalities of selling a Vancouver home. Selling your Vancouver home is possibly one of the largest transactions you’ll make, so make sure you don’t miss a step in the process. During the selling process there is plenty of paperwork that needs to be completed. A Vancouver real estate specialist can ensure selling your home will go smoothly and will also be able to alert you should problems arise in which you need to consult with a lawyer.

3. Connections
Vancouver real estate agents are able to network and coordinate showings. Putting your Vancouver home for sale shouldn't become your full time job – it can be difficult to accommodate buyer showings, make flyers and properly advertise the property, answer all phone and email inquires etc. A Vancouver real estate agent becomes your marketing specialist and will be able to run open houses, set up showings, and other marketing activities to get your house seen by interested buyers. Vancouver agents are connected to other agents, so are able to network and promote discussions that help you get a timely sale.

4. Neutral
Real estate agents in Vancouver assist with pricing matters, negotiations, inspections, due diligence, local knowledge and more. While you may think it would be easier to not have the middle person, be prepared. An agent acting as a neutral party in the process prevents any disagreements that could result in a deal being pulled from the table. Once you are under contract, a Vancouver real estate agent will have many recommendations to assist with any final details to get you to the closing table.

5. Experience
Working with a real estate agent in Vancouver provides direct access to local expertise, contractual matters, and knowledge gained through education and experience. This WILL save you money in unnecessary delays, prevent avoidable mistakes, and highlight contract specifics. A great thing about learning from another persons mistakes is it doesn’t become your mistake. Mistakes in this business are very costly and experience is like an insurance policy that you have working on your side; an experienced real estate agent in Vancouver can protect you every step of the way.

The time has come and you are ready to buy, but before you start searching for your next home – let’s talk mortgages to help you prepare for topics in advance and guide you to financial success in the future.

Before you commit your hard earned dollars to monthly mortgage payments, consider these 6 helpful tips about mortgages and lets make your payments work more efficiently for you.

Mortgage Regulations Have Changed…
Mortgage regulations have changed significantly over the last few years, making your options wider than ever. Subtle changes in the way you approach mortgage shopping, and even small differences in the way you structure your mortgage, can cost or save you literally thousands of dollars and years of expense.

Get the Right Information…
Whether you are about to buy your first home, or are planning to make a move to your next home, it is critical that you inform yourself about the factors involved.
Industry research has revealed that there are 6 common mistakes that most homebuyers make in mortgage shopping that can have a significant impact on the outcome of this critical negotiation. If handled correctly, these issues could result in a mortgage that will cost you less over a shorter period of time.

1. Pre-Approval
You can, and should, get pre-approved for a mortgage before you go looking for a home. Pre-approval is easy, and can give you complete peace-of-mind when shopping for your home. Your local lending institution can provide you with written pre-approval for you at no cost and no obligation, and it can be done quite easily over-the-phone. More than just a verbal approval from your lending institution, a written pre-approval is as good as money in the bank. It entails a completed credit application, and a certificate which guarantees you a mortgage to the specified level when you find the home you’re looking for.

2. Monthly Budget
Know what monthly dollar amount you can feel comfortable committing to. When you discuss mortgage pre-approval with your lending institution, find out what level you qualify for, but also pre-assess for yourself what monthly dollar amount you feel comfortable committing to. Your situation may give you a pre-approval amount that is higher (or lower) than the amount of money you would want to pay out each month. By working back and forth with your lending institution to determine what this monthly amount is, and what value of home this translate into at today’s rates, you won’t waste time looking at homes that are not in your price range.

3. Type of Mortgage
You should be thinking about long term goals, and expected situation, to determine the type of mortgage that will best suit your needs.
There are a number of questions you should be asking yourself before you commit to a certain type of mortgage. How long do you think you will own this home? What direction are interest rates going in, and how many quickly? Is your income expected to change (up or down) in the near term, impacting how much money you can afford to pay to your mortgage? The answers to these and other questions will help you determine the most appropriate mortgage you should be seeking.

4. Payment Types
Make sure you understand what prepayment privileges and payment frequency options are available to you.
More frequent payments (for example weekly or biweekly) can literally shave years off your mortgage. Simply by structuring your payments so that they come out more frequently, will significantly lessen the amount of interest that you will be charged over the term.
For the same reason, authorized prepayment of a certain percentage of your mortgage, or an increase in the amount you pay monthly, will have a major impact on the number of years you will have to pay and could shorten your payment term considerably.
These two payment options can cut years off your mortgage, and save you thousands of dollars in interest. However, not every mortgage has these prepayment privileges built in, so make sure you ask the proper questions.

5. Early Exit
Ask if your mortgage is both portable and/or assumable.
A portable mortgage, where available is one that you can carry with you when you buy your next home and avoid paying any discharge penalties. This means that you will not have to go through the entire mortgage process again unless you are making a move up to a much more expensive home.
An assumable mortgage is one that the buyer for your home can take over when you move to your next home. This can be a very powerful tool at the negotiating table making it much easier and more desirable for a buyer to buy your home, and again saves you any discharge penalties.

6. Mortgage Rep
You should seriously consider dealing with a Mortgage Expert.
Consider dealing only with a professional who specialized in mortgages. Enlisting their services can make a significant difference in the cost and effectiveness of the mortgage you obtain. For example they can make the process faster thereby avoiding costly delays. Typically there is no cost or obligation to enquire.

All real estate markets have cycles - Vancouver is no exception! When it’s a hot market, it seems easy to sell Vancouver real estate faster and for more money – selling can seem easy, but when it’s a cold market or back to “normal” conditions, it’s critical to learn what you need to know to avoid costly seller mistakes in order to sell real estate faster in Vancouver and for more money.

These 9 steps will help you sell real estate faster and for more money in Vancouver, while maintaining control, and minimizing the stress that comes with the home-selling process:

1. Know why you’re selling, and keep it a secret
The reasons behind your decision to sell your Vancouver real estate can affect everything from setting a price, to deciding how much time and money to invest in getting your Vancouver home ready for sale. What’s more important to you: the money you walk away with, the length of time your property is on the market or both? Different goals will dictate different strategies.
However, don’t reveal your motivation to anyone outside other than your Vancouver real estate agent, otherwise, they may use it against you at the negotiating table. When asked, simply say that your Vancouver housing needs have changed.

2. Do your homework before setting a price
Settling on a price shouldn’t be done lightly. Once you’ve set your price, you have effectively informed all home buyers in Vancouver the expectations you have regarding the sale of your Vancouver home; warning: pricing too high is as dangerous as pricing too low. Remember that the average buyer is looking at 15-20 homes at the same time they are considering yours. This means that they have a basis of comparison, and if your home doesn’t compare favorably with others in the price range you’ve set, you won’t be taken seriously by prospects or agents. The last thing you want a Vancouver home buyer saying is "waste of time!" or "something wrong!" or "that's crazy!".

3. More homework
(In fact, your Vancouver real estate agent should do this for you). Research what Vancouver homes in your Vancouver neighborhood and similar neighborhoods have sold for in the past 2-12 months, and research what current Vancouver homes are listed for. That’s certainly how prospective buyers will assess the worth of your home.

4. The Best Agents get the best results
Nearly three-quarters of homeowners claim that they wouldn’t use the same realtor who sold their last home. Dissatisfaction boils down to poor communication which results in not enough feedback, lower pricing and strained relations. To sell real estate faster and for more money in Vancouver, you need a great agent, a local expert, and an experienced negotiator in the Vancouver real estate market.

5. Maximize your home’s sales potential
Appearance is critical, and it would be foolish to ignore this when selling your Vancouver home.
You may not be able to change your home’s location or floor plan, but you can do a lot to improve its appearance. The look and feel of your Vancouver home guarantees a greater emotional response than any other factor. Before showings, clean like you’ve never cleaned before. Pick up, straighten, unclutter, scrub, scour and dust. Fix everything, no matter how insignificant it may appear. Present your home to get a “WOW” response from prospective buyers in Vancouver.
Allow the buyers to imagine themselves living in your Vancouver home. The decision to buy a home is based on emotion, not logic. Prospective buyers want to "try-on" your Vancouver home just like they would a new suit of clothes. If you follow them around pointing out improvements or if your style is so different that it’s difficult for a buyer to strip it away in his or her mind, you make it difficult for them to feel comfortable enough to imagine themselves an owner.

6. Make it easy for prospects to get information on your home
You may be surprised to know that some marketing tools that most agents use to sell homes (e.g. traditional open houses) are actually not very effective. In fact only 1% of homes are sold at an open house.
Furthermore, the prospects calling for information on your Vancouver home value their time as much as you do. The last thing they want to be subjected to is either a game of telephone tag with an agent places for your home are attached to a 24 hour pre-recorded hotline with a specific ID# for your home which gives buyers access to detailed information about your property day or night, 7 days a week, without having to talk to anyone. It’s been proven that 3 times as many buyers call for information on your home under this system.
And remember, the more buyers you have competing for your Vancouver home the better, because it sets up an auction-like atmosphere that puts you in the driver’s seat.

7. Know your buyer
In the negotiation process, your objective is to control the pace and set the duration. What is your buyer’s motivation? Does s/he need to move quickly? Does s/he have enough money to pay you your asking price? Knowing this information gives you the upper hand in the negotiation because you know how far you can push to get what you want.

8. Make sure the contract is complete
For your part as a seller, make sure you disclose everything. Smart sellers proactively go above and beyond legal requirements to disclose all known defects to their buyers in writing. If the buyer knows about a problem s/he can’t come back with a lawsuit later on. To sell Vancouver real estate faster and for more money, minimal complications are essential.
Make sure all terms, costs and responsibilities are spelled out in the contract of sale, and resist the temptation to diverge from the contract. For example, if the buyer requests a move-in prior to closing, just say no. Now is not the time to take any chances of the deal falling through.

9. Don’t move out before you sell
Studies have shown that it is more difficult to sell a home in Vancouver that is vacant because it looks forlorn, forgotten, and simply not "homey". If you move, you’re also telling buyers that you have a new home and are probably highly motivated to sell fast. This, of course, will give them the advantage at the negotiating table.