You've decided to try to sell your own home the guidance of a professional REALTOR® and you've thoroughly digested the information available on this website. This choice is probably based solely upon not wanting to pay a commission. Well, considering the possible substantial savings of commission, depending on local market conditions, perhaps it's worth a try.
Your property is properly prepared and you believe you possess the skills necessary for a successful marketing and sale. After all, how difficult could it be. Right?
Years ago, you just placed an ad in the real estate advertising section of your local newspaper and created a 'for sale' sign for the lawn with your home and/or business phone numbers for all to see.
Today, the vast majority of buyers begin their home search on ...
Therefore, to achieve a successful sale in the shortest time period, that's where your property must be advertised. You need the mass exposure offered by ...
You could go the route of a discount brokerage who'll accept your listing for a flat fee or low percentage and upload your listing to MLS Canada. But you'll still likely have to pay a sizable commission to a buyer brokerage.
In Canada, you could also try a 'home for sale by owner' company. Along with providing basic information, they usually have their own marketing website and can post your listing to MLS Canada, advertised to Realtors and the public through Realtor.ca. We call this a "mere posting". You don't have to, but you can offer a commission to the buyer's agent at whatever amount you choose. You'll also pay a small fee to the for sale by owner company. With this companies, you will generally receive a much reduced level of service, or choose "a la carte" for service options. And the outcome can vary. Often, we see sellers leave money on the table by going this route.
Most buyers hire a full service agent to help them find and negotiate an Agreement of Purchase and Sale. Because the seller typically pays the commission, the buyer receives the numerous benefits of their professional service, including guidance and protection ...
So, why wouldn't a buyer have their own agent?
As a seller, you can hire a full service brokerage who'll help throughout the entire process. Your agent will perform an initial evaluation, make themselves regularly available for ongoing consultations, advise how to prepare your home for market, promote the property through various means and negotiate any offers that may be registered.
You'll also usually enjoy the benefit of your property being exposed on both the corporate and endless individual REALTOR® websites and if they are saavy, through social media channels as well.
The absolute best medium for real estate advertising? MLS online.
If you're interested in a definitive guide to selling and buying real estate, whether privately or with the guidance of a qualified realty agent, check out Ross' book The Happy Agent. It's full of marketing tips, techniques and advice, including sections on selling privately, open houses, advertising, negotiating and more that could make the difference between attempting to sell privately and actually creating a successful sale. It also includes techniques involved in searching for and negotiating to purchase real estate that he learned and practiced during his successful 4 decade realty career.
A small investment of your time could conceivably save you thousands of dollars and a ton of
stress, and help
you trade in real estate like a pro. Remember - knowledge is power.
Available virtually everywhere print and e-books are sold.
MLS® and Multiple Listing Service® are registered trade marks of the Canadian Real Estate Association and the National Association of Realtors.