How Does Real Estate Work?
A Beginner’s Guide for Buyers and Sellers in London, Ontario
Whether you’re buying your first home or getting ready to sell, understanding how real estate works can feel overwhelming. At Elevate Real Estate Group, we believe informed clients make better decisions. This guide breaks down the basics of the real estate process in London, Ontario, so you can move forward with confidence. We also highlight why working with a Realtor in London Ontario is key step in the process.
What Is Real Estate?
Real estate refers to property that includes land and any permanent improvements, such as homes, buildings, or structures. In residential real estate, this typically relates to houses, condominiums, and townhomes.
When we talk about “real estate” as an industry, we’re referring to the buying, selling, leasing, or managing of these properties.
How Does Real Estate Work? Working with a Realtor in London Ontario
How Real Estate Works for Buyers in Ontario
If you’re buying a home in London, here’s what the process generally looks like:
1. Set Your Budget and Get Pre-Approved
Begin by consulting with a mortgage advisor or lender to obtain pre-approval. This gives you a clear budget and makes your offers more competitive.
2. Define Your Needs
Think about location, school zones, transit, lot size, and home type. We help buyers refine their search criteria and set up custom Realtor.ca-style alerts using our professional portal (Realm). Working with a Realtor in London Ontario who knows the area is a key idea.
👉 Check out this blog on How to leverage Realtor.ca in your home search
3. Home Showings and Offers
Your Realtor will schedule private showings, explain property details, and help you draft a competitive offer when the time comes.
4. Home Inspection, Financing, and Closing
Once your offer is accepted, key conditions, such as a home inspection and financing approval, come into play. From there, your lawyer finalizes closing paperwork.
How Real Estate Works for Sellers in Ontario
Thinking of selling? Here’s how we make it easy:
1. Determine Market Value
We offer a complimentary online home evaluation to help you understand current market conditions and determine the optimal listing price.
2. Prepare and Stage Your Home
We guide you through decluttering, repairs, and home staging consultations to maximize your home’s value.
3. Professional Marketing
Your home is showcased through MLS, Realtor.ca, social media, custom videos, and targeted ads, reaching buyers both locally and beyond.
4. Showings, Offers, and Closing
We manage showings, review offers with you, and help negotiate terms that work in your favour.
What Does a Realtor Do?
Real estate agents do more than unlock doors. They:
Price homes based on comparable sales
Negotiate purchase or sale terms
Recommend trusted inspectors, mortgage brokers, and lawyers
Manage paperwork, disclosures, and timelines
Protect your interests legally and financially
Working with a Realtor in London Ontario, when you are searching for a home in London or the surrounding area is an important consideration. Local knowledge can be key in securing the property you want.
YouTube Short: Buying or selling a home in London, Ontario? 🏡 Here’s how real estate works #realestate #ldnont
How Do Real Estate Agents Get Paid in Ontario?
In most cases, real estate commissions are paid by the seller, not the buyer. These are typically a percentage of the final sale price, split between the listing and buyer’s agents.
Using Realtor.ca vs. Working With a Realtor
Realtor.ca is a great tool, but it only shows public-facing data. When you work with a professional, you get:
Access to real-time MLS data
Custom alerts from our backend system (Realm)
In-depth property insights not shown on public platforms
Why Local Expertise in London, Ontario Matters
The London real estate market is unique. Pricing trends, neighbourhood dynamics, and buyer demand shift rapidly. Our team lives and works in this community—we know when to price aggressively, how to structure strong offers, and how to highlight your home’s value in today’s market.
👉 Check out this blog on Importance of Working With a Local Realtor
🎥 Watch: “How Real Estate Works in London, Ontario”
A quick video explaining the real estate journey for both buyers and sellers—presented by Elevate Real Estate Group.
Next Steps: Ready to Buy or Sell in London, Ontario?
Connect with our team at Elevate Real Estate Group to start your journey. Whether you’re looking to upsize, downsize, or find your dream home, we’re here to guide you every step of the way.
👉 Contact Us Today Use the live chat function or call at 519-933-6198
The Elevate Real Estate Group ( Brittany, Victoria, Stewart, Jeremy, and Caitlyn)
Why Choose Elevate Real Estate Group?
At Elevate Real Estate Group, we understand that buying a home is a significant decision. That’s why having the right team by your side is essential. Our experienced realtors—Stewart Blair, Jeremy Odland, Brittany Wurfel, and Caitlyn Ford—bring unmatched expertise and dedication to every client.
Additionally, our in-depth knowledge of the London, Ontario, market allows us to confidently guide you through every step of the process. From the initial consultation to the moment you receive your keys, we’re committed to making your journey smooth and stress-free.
Learn more about Elevate here, Meet the Elevate Real Estate Team