I’ve met many people over my career who thought it would be easy to sell their own home privately. Some have been successful but, according to industry surveys, about 70% end up listing it for sale in the end. Of those who have had success, did they really save any money?
If you think about it, most buyers will expect the price of a home that is being sold privately, to be discounted by the value of the commission. In that case, the Seller may not have saved any money at all. Secondly, the Seller will incur expenses in marketing their home and in completing the transaction. The biggest concern though is the risk of making costly mistakes.
Selling your home is a complex procedure, involving potentially large sums of money and stringent legal requirements. It requires a tremendous depth of knowledge and experience, as well as a substantial amount of time to follow up on every detail promptly and properly. A professional REALTOR® has these qualifications and experience and is committed to spending the time and money it takes to help you sell your home successfully so you can focus on the things you do best and enjoy the most.
If you are thinking about selling your home alone, ask yourself these questions:
Most of those who sell their home in Canada do so with the assistance of REALTORS®. Of the few who do try it themselves, most change their minds and end up going with a REALTOR® because the process is too complex, too time consuming, and too dangerous without the help of a professional.
An old cautionary adage expresses it best for those who feel they can sell their homes without the help of a real estate agent: “You can get rid of the broker, but you can’t get rid of the broker’s work.”
- Appeal. Home Sellers don’t fully realize that clearly seeing a home through the eyes of a buyer dramatically increases the chances of the home selling quickly and at a higher price. Only a real estate agent’s experience can guide a seller to properly show a home to its best advantage.
- The Internet. Canada ’s public MLS® based web site is the most visited real estate web site in the country logging millions of hits annually. Only properties listed for sale by a REALTOR® appear on this essential site.
- Promotion to other REALTORS®. Although often over-looked, this is one of the most important roles a REALTOR® plays. Most buyers are working with a REALTOR® and it is often the REALTOR® who draws a property to a buyers attention.
- A professional yard sign. A sign can funnel buyers’ calls right to the qualified real estate professional with the answers they need.
- A flexible flyer. A flyer about your home can be distributed many different ways, to potential buyers as well as other brokers.
- Tours. Your broker can arrange tours of your home for top-producing sales agents who would benefit from seeing your home first-hand.
- Open Houses arranged by your broker for the public and other real estate professionals.
- A direct mailer. This can be launched with “Just Listed” cards to your neighbours and nearby move-up and rental neighbourhoods.
- Classified Ads. Ads might also be taken out for your home. Writing and placing these is an art in itself.
- Ongoing Information. Your broker will tell you about marketing conditions and the competition on a regular basis. This can keep you up-to-date with the market so you are prepared to make decisions.
- Multiple offer expertise. If more than one buyer makes an offer on your home, it takes an immense amount of know-how and integrity to handle the deal properly.
- Organization of closing details. Following through on the closing arrangements and handling any unexpected issues that crop up are all part of the REALTORS® expertise.
- Relationship. Your REALTOR® will be there for you to help in finding another property or in locating a top notch out-of-town agent. You build a relationship for down the road if you need advice on financing, property value, benefits of improvements and so on. The sale is often just the beginning.