FAQs

Hopefully you’ve already found answers to most of your questions about selling a home on this site. We’ve also included this list of questions and common misconceptions we hear from home owners in the Edmonton area:

What is the MLS?
The Multiple Listing Service® is a co-operative marketing program among members of the REALTORS® Association which ensures maximum exposure of properties to the greatest number of potential buyers. It is available only to REALTORS®. The MLS database is accessible to Realtors, and the information from the database is displayed on various web sites, including Realtor.ca. More information how the MLS works is available here.

All Realtors are the same

Coming soon.

I’ll Net More if I Sell On My Own
Coming soon.

What do I do if I’m unhappy with my Realtor?
Your first step is to discuss your dissatisfaction with your Realtor and let them know why you’re upset. If that doesn’t rectify the situation you should call their broker. Your listing contract is with the brokerage, and the broker is responsible for their associates and may be able to rectify the situation. If that doesn’t work… Call your lawyer. I think that one is self-explanatory… If you have a legitimate complaint, you can contact the REALTOR’s Association of Edmonton - 780-451-6666 or the Real Estate Council of Alberta 888-425-2754. One thing you shouldn’t do is call another Realtor - You are in a contractual relationship with another brokerage. Anything we say could interfere with that contract so we can’t say anything at all or we’ll be in trouble too!

What is the difference between an appraisal, an assessment and an evaluation?
An appraisal is provided by an appraiser. In general an appraisal will consider three recent sales of homes comparable to yours. The appraiser will make adjustments based on the differences between your property and the comparable properties and come up with a range of values for your property. A real estate associate can provide an evaluation will consider all recent comparable sales, active and expired listings, as well as the market conditions and the “sale-ability” of your home and provide a range of values for your property. An assessment is related to property taxes and uses basic features of your home, along with recent home sale statistics to determine a “market value” assessment for residential properties. More information about tax assessments is available here.

What is the difference between market value and asking price?
A Realtor can provide an evaluation for a home, but the asking price is always up to the home owner. Typically the evaluation will tell you approximately what your home will sell for. The price you ask for your home will depend on many factors, including the current market, the competition in your area, recent sales etc. More information on pricing your home is available here.