Seller FAQ

The Esposito Team specializes in selling homes, condos and acreages and investment properties in Edmonton, St. Albert, Sherwood Park, Spruce Grove, Stony Plain, Morinville, Beaumont, Leduc, Sturgeon County, Strathcona County, Leduc County and Parkland County.

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In 2022, our small team of four agents sold 17x more homes than the average real estate agent in Edmonton did in 2022. We have collectively sold over $450 million of real estate since 2008. We are extremely active Realtors® and have our finger on the pulse of the real estate market in Edmonton and area.

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The average days on market for a home in Edmonton in 2022 was 32. Homes listed with The Esposito Team averaged 25 days on market. Our listings sold 28% faster when compared with the average listing in Edmonton and area. Not only did we sell our listings 28% faster, we also achieved an average of 99.8% of list price for our sellers. Less time on the market typically means more money in your pocket when selling.

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Our sellers only pay our fee after the home sells. We invest the marketing budget and all listing expenses upfront until your homes sells. While there is no ‘standard’ fee amount in Alberta, the vast majority of experienced Realtors® in Edmonton and area charge the same amount. Our fee is 7% on the first $100,000 and 3% on the balance of the sale price, with half of this amount going to the agent who represents the buyer in the deal. Unlike some of the other agents in town, we do not charge our sellers anything extra for our next-level marketing program that we discuss on this page. Remember, we are not here just to sell your home. Our job is to maximize your sale price and minimize your stress.

While we charge the exact same as most of our competitors, we feel that we offer substantially better value with marketing, expertise and an impeccable 15-year track record that is hard to match.

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Yes. Yes. And yes. Far too many sellers hire an agent without proper research just to find out that the agent that they selected lacks experience, work ethic, or both. A great way to find the best Realtor® in Edmonton by searching for and reading Edmonton Realtor® Reviews.

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Pricing your home properly for a successful sale requires the expertise of a top Realtor®. There are four primary indicators that are crucial in order for us to determine a list price and successful sale price:

Sold Comparables: This tells us what are real buyers actually paying for comparable homes. 

Active Listings: This tells us who we are competing against and which other homes a prospective buyer will be looking at in addition to ours.  

Terminated and Expired Listings: This tells us what real buyers are not willing to pay for a comparable home. Studying this data can save us months of sitting on the market as many of the terminated and expired sellers have already tested the market at a given price point.

Area Expertise: This is where our team shines for our sellers. Specific homes, features and locations are unique and may require further upward or downward adjustments. Our team has sold homes in nearly every neighbourhood in Edmonton and surrounding area which gives us a huge advantage when competing with other listings.

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This decision varies greatly depending on the current market conditions. With multiple offers, you typically only get one chance to capitalize on the opportunity. If your Realtor® is not experienced in dealing with multiple offers, you can leave tens of thousands on the table. Bidding wars or multiple offers are complicated and should be handled only by an agent experienced in those situations. Pricing your home to encourage multiple offers can be advantageous since it encourages buyer competition, higher prices and stronger offer terms. However, pricing your home too high can lead to extended days on market, multiple price reductions and the risk of your home becoming a ‘stale’ listing with little showing action.

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While junior Realtors® may place importance on tax assessment or bank appraisals, experienced Realtors® like us do not. 

A municipal tax assessment is not an accurate way in determining the value of a home for sale. In fact, it is the least accurate way of determining the value of a home for sale. Think about it - the municipality has not been in your home and thus cannot determine the layout, recent updates, condition, design or location factors that can significantly change the price. Your annual tax assessment is based on an average home of that size in average condition within a given geographical area. 

A bank appraisal, while detailed, is typically used for funding or equity purposes. Appraisals are not completed for the purposes of selling your home and thus usually don’t take into account competing active listings, current market conditions, future market trends and marketability to current buyers. 

 A proper market evaluation only by a seasoned veteran agent is highly recommended.

Nothing! We are a full service real estate team and provide exceptional marketing for all of our listings without charging our sellers anything extra beyond our normal fee.

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For most people, the answer is yes. Few families can qualify to carry more than one mortgage at a time. However, it is very important that you speak with one of our Mortgage Professionals in depth about this. Besides financing, it is almost always advantageous to sell your home before shopping for a new one.

In most cases, the seller must provide a current Real Property Report with municipal compliance to the buyer of a home. The term ‘current’ does not refer to time, but rather means that the report reflects the current state of the property. This a typically a 2 step process:

A Real Property Report is an approved survey plan of your property. The RPR usually includes the house, garage, deck, shed, fence, property boundaries, utility right of ways and any other improvements or structures on the property. This is conducted by a survey company and usually costs $500-800. 

 Once you have your Real Property Report completed, the next step is to submit the RPR to the municipality for a compliance letter or stamp of compliance. This can take anywhere from 2-14 days depending on the time of year. If there are non-compliant or non-conforming issues, we need to address them or negotiate them into the contract.

In some cases, the seller can purchase Title Insurance for the buyers as an alternative to a Real Property Report with municipal compliance. Title Insurance is an insurance policy for the buyer that may protect against non-compliance or non-confirming issues that would have otherwise been discovered if an RPR or municipal complaince had been done. Title Insurance is becoming increasingly common for sellers to offer. An expert Realtor® can discuss the pros and cons of either option with you.

In Alberta, both the listing agreement and purchase contract state that a seller must disclose any lack of permit only if they are aware of a missing permit. Unless specifically asked, sellers are not required to provide copies of permits to buyers. For example, when selling an older home, the seller is not required to go out of their way to track down the original permits for basement development, deck, garage and other items. An expert Realtor® can guide you through what you are required to disclose and provide to a buyer.

Condo documents are a large part of a buyer’s due diligence process when purchasing a condo. Owning a condo is essentially like owning a share of a business. In Alberta, it is the seller’s responsibility to pay for and provide this set of documents to a prospective buyer. Condo documents can include dozens of important documents such as bylaws, reserve fund study, financial statements, meeting minutes and any pet or occupancy restrictions. A full set of condo documents can usually be purchased from your management company or their online portal. We recommend ordering these once your condo is listed. You can wait until you have a pending offer before ordering these, however most management companies charge a rush fee that is 2x the normal price.

We have the ability to advertise a preferred possession date in a listing so that buyers are aware of the seller’s preference. The normal possession timeline is 30-60 days from the time of offer. But, as we like to say: everything is negotiable! If you don’t want to give up possession for another 90 days, we can probably make that happen. If you want to give up possession immediately, we can speed things up to 19 days or sometimes even quicker if the house is vacant as long as the buyer is on board. These details are part of the offer process and negotiation.

Century 21 Masters is a real estate brokerage in Edmonton and St. Albert. They have over 100 agents across 4 office locations in Edmonton and area. Century 21 is one of the most recognized real estate brands in the world and is one of the top real estate brands across Alberta. The Esposito Team has been the #1 team at Century 21 Masters for 13 years in a row focusing on serving sellers, buyers and investors.

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A seller’s market is where the current balance of the supply and demand of homes favours those looking to sell versus those looking to buy. A seller’s market usually means higher home prices, less homes to choose from, less days on market and more competing offers. When demand for homes outpaces the supply for homes, we refer to it as a seller’s market. While Edmonton rarely finds itself in a seller’s market, there are specific areas that are known to be easier to sell in with less days on market.

A buyer’s market is where the current balance of the supply and demand of homes favours those looking to buy versus those looking to sell. A buyer’s market usually means lower home prices, more homes to choose from, more days on market and less or no competing offers. When supply for homes outpaces the demand for homes, we refer to it as a buyer’s market.

We offer detailed staging consultations for all of our listings so that we can ensure your home presents well for buyers. Here are the three most important things to do to ensure your home presents well for buyers: 

Decluttering

A cluttered space makes the home feel smaller, darker and less comforting for buyers. The more stuff you can remove from your home, the better. 

Depersonalizing

Buyers want to visualize themselves in your home. Removing personal items, family photos and anything off putting or offensive greatly increases your home’s appeal when buyers are coming through.

Cleaning

This is the most obvious selling tactic, yet is the most overlooked and ignored. We highly encourage our sellers to go overboard with cleaning your home before showings. Buyers want to walk into a spotless, odourless and sparkling home. A sparkling clean home shows pride of ownership and gives buyers much more confidence in moving forward with an offer.

Brightness - We’ve never heard a buyer say ‘This house is too bright’. Usually, the opposite is said. When preparing your home, one of the cheapest updates you can do is to change your current light bulbs with higher wattage bulbs of at least 100W. Your home also looks best and most cohesive when all bulbs in your home are the same hue. Buyers prefer neutral white or soft white as opposed to daylight or cool white. Simply changing light bulbs can provide a massive impact for under $100. 

Neutral paint - There’s nothing worse than a buyer getting turned off by paint colours. Tacky feature wall? Neon green bedroom? Patterns from the 90’s? Buyers love neutral paint colours, period. When buyers are searching for homes, they are looking to make the home their own. They aren’t looking to move into your space. Spending a few hundred dollars on neutral paint not only makes your space look brighter, it also allows buyers to visualize themselves in the home. Dollar for dollar, updated neutral paint provides sellers with the best return on investment of any home improvement. 

Pet and child damage - When buyers see wear and tear, they actually see dollar signs. Every part of your home that has pet or child damage will be seen as a negative by buyers and used against you in negotiations. In most cases, we strongly suggest repairing or replacing the parts of your home that are damaged by pets or children.

Curb appeal - Nothing is worse than a buyer walking up to your front door with a disappointed look on their face. Buyers already formulate an opinion of your house when they see the exterior picture online or when they pull up in front of your home. Ensuring your front yard is clean, maintained, lawn cut, snow shoveled and leaves raked can have a major impact. 

A clean home - None of the above items matter if your home isn’t absolutely spotless. We can’t stress this enough. The #1 thing that will make a buyer walk out of a showing is a dirty home. A clean home shows buyers that you respect and take care of your home and can be a big factor in a buyer deciding to write an offer. 

Bonus: Kitchen and bathrooms - An updated kitchen and bathroom in a home are, by far, the most common items on a buyer’s ‘want’ list. While these are two of the most expensive improvements you can update in a home, a properly improved kitchen and bathroom can put your home at the top of a buyer’s list.

The Esposito Team offers guidance on 3 types of staging solutions:

Staging consultation is essential for selling for top dollar and is included for all of our listings.

Virtual staging increases interest without lifting a finger and is included for our vacant listings.

Professional staging provides maximum impact and completely transforms your home. Fees apply.

Home staging costs in Edmonton varies depending on the size of home, how many rooms, length of commitment and most importantly staging quality. Staging costs in Edmonton vary from $500 per month to $5000 per month. Staging with one of our recommended stagers can help you sell for thousands of dollars more and in far less time. However, hiring a poor staging company with cheap furniture will get you less money and keep your home on the market for longer.

Virtual staging can be a powerful tool for sellers to use. The Esposito Team includes virtual staging for all of our vacant listings. We find that vacant homes that are virtually staged get up to 2x the amount of showing traffic and helps buyers visualize the potential of your home.

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A listing agreement is an agreement between a seller and the real estate brokerage they are hiring to sell their home. The agreement specifies which designated agent(s) are representing you, list price, length of listing and many other details regarding the listing. Listing agreements are typically entered into for 4-6 months depending on the Realtor® and property type.

Yes we do. Sherwood Park, St. Albert and Morinville are three of our top communities we serve outside of Edmonton. We also sell a significant number of properties in Fort Saskatchewan, Stony Plain, Spruce Grove, Leduc, Beaumont, Strathcona County, Sturgeon County, Parkland County and Leduc County.

Regardless of what a seller chooses to offer a buyer’s agent for commission, almost all buyer’s agents in Alberta have a service agreement with their buyer clients for the common amount of 3.5% on the first $100,000 plus 1.5% on the balance of sale price. This is usually paid for by the seller of whichever home they buy. While not recommended, sellers can offer a lower amount to a buyer's agent. When offering a lower amount to a buyer’s agent, sellers must be aware that this may deter Realtors® from showing your home and may encourage Realtors® to push their buyers to purchase one of the competing listings that are offering a common or higher commission amount. Our philosophy is that we want to do everything in our power to encourage showings and encourage strong offers, which is why we almost always offer this common commission amount to buyer’s agents.

Residential real estate law is a highly specialized field in law. Legal fees to sell a home in Edmonton can range from $1000 to $2000. It is our opinion that sellers should hire an extremely seasoned and reputable real estate lawyer in Edmonton. An outstanding real estate lawyer is one that has completed hundreds or even thousands of real estate transactions. We only recommend lawyers that are highly experienced and specialize in residential real estate law. Our team works with and can recommend some of the best real estate lawyers in Edmonton and area.

Average detached house price in Edmonton in 2022: $433,750

Average townhouse price in Edmonton in 2022: $230,000

Average condo price in Edmonton in 2022: $172,500

The Edmonton real estate market can be very seasonal. From January to July, the market overall can be up to 4x more active than in the August to December period. This means that more buyers are looking to buy homes during the first half of the year. With more buyers actively looking, selling your home during the first half of the year can be beneficial. However with more buyers also comes more competing listings. You may find that you are competing with dozens of comparable properties in your area which may turn out to be a negative for your selling timeline and for your price. 

Selling your home in the latter half of the year usually means less buyers are looking, but there will be far less sellers for your listing to compete with. Additionally, the September to December window may be seen by some as an inconvenient time to move, so buyers shopping in the latter half of the year tend to be far more serious and of higher quality. 

Your property is unique, so we recommend seeking guidance from a seasoned and experienced real estate agent.

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There are many reasons why a house may not be selling, but almost always it falls under one or more of these three reasons:

Your home doesn’t show well - Almost every buyer begins their home search on the internet. If your photos, virtual tour or video aren’t stunning, buyers won’t even bother booking a showing. Buyers want a clean and bright home that presents well. We recommend our sellers go overboard with ensuring the property is spotless and in tip top shape when preparing for showings. Remember, you only get one chance to impress a buyer. If you miss the opportunity, the buyer will move on and write an offer on a house down the street. 

Your Realtor® isn’t doing their job - It may be hard to believe, but not all of Edmonton’s 4200 real estate agents are top-notch. Houses don’t just sell themselves! Beyond placing your property on the MLS and having a lawn sign, what else has your Realtor® done to expose your property to as many buyers and buyer’s agents as possible?

Your price is too high - Any house will sell for the right price. Houses are most attractive to potential buyers in the first 60 days of a listing. After that, buyers start to wonder what’s wrong with the house - even though it could simply be overpriced. Pricing a home properly right at the outset is crucial. Statistically, the longer a home stays on the market, the lower the price it will eventually get.

In the standard Alberta Listing agreement, there is an early termination clause which outlines the requirements for firing your agent or ending the agreement early. Many listing agreements have an agreed upon amount for the seller to pay in the event that they change their mind about selling early. However, once the listing agreement has expired, there is likely no further obligation if you choose to switch Realtors®. If you are unhappy with your Realtor®, it is important to always discuss this with them first before making any decisions.