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There are many critical decisions to be made regarding the sale of your home that impact your ability to meet those goals: pricing, chattels, possession date, documents, reports, marketing, showing the house, qualifying potential buyers, negotiating and completing the sale.

REALTORS have developed very specific market information not available to the average consumer. Their experience, knowledge of market conditions and access to market data and buyers will enhance and expedite the transaction.

Keeping in mind that the needs of each seller and property is unique, your REALTOR may provide some of the following services to assist you in selling your home:

• Prepare a Comparative Market Analysis —a list of similar homes sold in your area— to advise you on your home's market value.
• List your house through the Multiple Listing Service (MLS®), a database of properties for sale shared by over 2,500 REALTORS in the Edmonton region.
• Advertise your home, including world-wide exposure on the Internet at www.mls.ca; hold open houses and show your home.
• Advise you on how to prepare your property for sale; particularly to enhance those all important “first impressions.”
• Research his or her own buyers for a possible match for your property.
• Advise you on offers you receive.
• Negotiate the sales contract including price, possession date and chattels.

Once listed on MLS®, your home will be advertised on the Internet at mls.ca. Your REALTOR also has access to the Real Estate Weekly, a real estate newspaper published by the Edmonton Real Estate Board and distributed throughout the greater Edmonton area. Your REALTOR will also discuss the value of other strategies to promote the sale of your home, such as a "For Sale" sign, flyers, open houses, showings, etc.

The power of MLS® gives your REALTOR the ability to network with other local REALTORS to find out if they have potential buyers.

Before your home is shown to prospective buyers, your REALTOR can recommend ways to get your home ready for sale.

The Listing Contract will include:

• The price of the property.
• The address and legal description of the property.
• The existing financing arrangements.
• A list of chattels, unattached items, that will be included in the sale.
• A list of fixtures— attached items— that will not be included.
• The commission amount.
• The expiry date of the listing contract.
• An explanation of agency relationship.
• A REALTOR generally works on a commission basis and only receives payment upon the sale of your home. The commission can be a percentage of the total sale or a flat rate— this is entirely negotiable between you and your REALTOR.

Besides covering the costs of marketing your home, your REALTOR must share the commission fee with the real estate agency for which he or she works as well as the buyer's REALTOR, if there is one.

• Your REALTOR must present you with all written offers. If you receive several at one time, you are under no obligation to accept one over the other.
• When you receive an offer, you can accept it, refuse it, or make a counter-offer to the buyers, with the changes you want.
• An offer usually contains ‘subject clauses’ that the buyer needs to remove by a specific date. A subject clause is a special condition that must be met before the sale can take place. For example, a buyer may want to have a home inspection done before they commit to the sale. Once the subjects are removed and you've signed the offer, it becomes legally binding.

The Purchase Contract will specify a completion day for the sale.

1. Can I cancel my listing at any time?
   No. The Listing Contract is between you and the Brokerage and is intended to create legal and binding obligations on both parties. If you have concerns, they should be discussed with your REALTOR or their Broker.

2. After my listing expires, how long do I have to wait until I can sell my house?
   You can sell at any time but you may still have to pay commission. Please check with your REALTOR to clarify any “holdover” clause in your listing contract.

3. If I find my own buyer during the listing, do I only pay half the commission?
   You pay the commission agreed to in your Listing Contract.

4. What is the commission rate?
   Commission rates are negotiated at the time the Listing Contract is signed.

5. Do I have to pay GST when I sell my home?
   Not on private previously-owned primary residential property. All other types, please contact Revenue Canada. Note: there will be GST on any goods and services that you buy/employ in relation to your sale.

6. What is MLS®?
   The Multiple Listing Service®, a co-operative real estate listing service used by REALTORS, is a computer based information network combining current market information with historical data. In the Edmonton region, MLS® provides over 2,500 REALTORS with up-to-the-minute market information seven days a week, 24 hours a day.

7. If I get an offer I don't like, do I have to counter it?
   No. You have the choice of accepting, rejecting or making a counter-offer.

8. What is an RPR?
   Real Property Report. This is the relatively new name for a survey certificate.

9. Do I have to use a lawyer?
   While highly recommended, the final decision is yours.

10. If the buyer does not remove his conditions, who gets the deposit?
    If the buyer has not otherwise breached the contract, the buyer usually gets it all. Check with your REALTOR or lawyer regarding the specifics of your contract.

11. If the buyer does not “complete” the transaction after removing conditions, who gets the deposit?
    If you have not otherwise breached the contract, you usually get it all as liquidated damages. Check with your REALTOR or lawyer regarding the specifics of your contract. Based on your listing contract, you may be required to split any forfeited deposit with your brokerage.