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Office: 905 844 4444 ex 216
Direct: 416 837 5242

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Oakville Realtors®

Real Estate Services

Magic Falger & Ela Drag specialize in real estate services in Oakville, Burlington and Mississauga

Buying a house - basics

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Selling a house - basics

Contact us today to receive FREE selling your home basics guide.

Selling a home - What is MLS®?

Buying a home in Oakville, selling a home in Oakville?
We are here to help with your all real estate needs

Call us for a free evaluation to find out how much your home is really worth

In current real estate market some homeowners might consider selling their home without help of Realtor®. Prospect of “saving” on commission might be a tempting idea. In most cases homes offered for sale by homeowners without help of professional Realtor® would take a lot longer to sale, sale for less or wouldn’t sale at all. You have to keep in mind that selling a home is not a simple procedure. A mistake in this procedure might lead to costly legal allegation.

Real Estate Agent

A Realtor® commonly known as real estate agent can significantly lower that risk thanks to: These are major factors that typical homeowner lacks while trying to sale a home by himself.

By hiring a salesperson you will select a professional to protect and represent your interests. This process starts by signing a Listing Agreement. It is basically a contract between homeowner and brokerage. A salesperson represents a brokerage. This agreement specifies all the details of agency. It authorizes brokerage and Realtor® to market seller’s property and find a buyer. Only after homeowner signs this contract a sale process can start.

MLS® or Multiple Listing Service®

MLS® or Multiple Listing Service® is one of tools that a Realtor® will use to market a residential or commercial property for sale. A special input form is generated by a salesperson to describe seller’s property.

Major components of a data input sheet are: After this form is submitted to a corresponding real estate board a system will automatically generate MLS® number and place it in a database. It usually takes a day or two for a general public to see it on sites like A salesperson has the access to a newly posted listing almost instantly. This greatly improves chases of a homebuyers looking for their dream home when they work with Realtor®.

Once a home is listed and the buyer is found a homeowner will receive an offer with help of a Realtor®. A salesperson is obligated to inform you about the offer as soon as possible.

An offer is in fact an Agreement of Purchase and Sale. In it a buyer specifies a property of interest, offered price, deposit, closing day, and other conditions of purchase. The usual conditions for purchase a home are financing and home inspection condition. This will give the buyer an opportunity to arrange for a mortgage and professional home inspection. The offer will specify when those conditions expire and how seller will be notified about their fulfillment. Seller might be asked to provide an access to a property in order to perform a home inspection as well as additional visits.

Seller doesn’t have to accept an offer as it is. He may reject the offer or make changes to it. When the counter offer is made it brings participating parties a step closer to final agreement. After all conditions of sale are agreed and contract is signed by seller and buyer the agreement is binding. Realtors® will distribute copies of signed contract to all parties including lawyers representing buyers and sellers.

Magic Falger & Ela Drag offer a full range real state services in Oakville, Mississauga, Toronto, Burlington and Milton.

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