Let's be honest, we all want to save money where we can. Selling your home isn't for everyone which is why the real estate sales industry exists. For Sale by Owners (or FSBOs for short) don’t actually save anything, and in most cases may be costing themselves more money by not listing with an agent. In fact, the study showed that FSBOs sold their homes for 5–6% less than similar properties sold by Realtors using the Multiple Listing Service (MLS). Everyone wants to get the most money for the sale of their home so why would you chance leaving money on the table.
Only Realtors affiliated with registered brokerages are allowed to market homes for sale on the MLS system. Homes sold independently without a Realtor will not show up on the MLS. So why is this a big deal? Well, the MLS is the first place most buyers start when looking for homes to purchase. Listing your home for sale on the MLS system offers the property the greatest exposure because it is actively marketed to all Realtors and buyers. Many third party sites also pay to tap into the realtor.ca data stream so in theory, your home is getting even more exposure than just the main MLS site.
Relationships and reputation go a very long way in this industry. Any FSBO can list their home on public market websites but is that enough to market it to a reputable buyer? Listing agents have vast personal and professional contacts established over the years. This contact list includes clients, other agents and real estate companies who can bring a large pool of buyers to your home. A small list of potential buyers can reduce the number of qualified buyers very quickly. Without tapping into a reliable network to sell a home, it increases the chance of lower selling prices, longer days on the market, and mistakes made during the selling journey.
Not only do Realtors have special training in real estate, there’s no substitute for the boots-on-the-ground experience you can get with an experienced Realtor. They can share their market knowledge with you, they have an understanding of historic sales in your neighborhood, and they are able to conduct a detailed analysis of comparable homes for sale in your area. An experienced Realtor can often predict what will happen during a negotiation and develop strategies to overcome those obstacles in advance. Experience matters in making sure you get the best possible deal.
An experienced Realtor is a professional negotiator. Since they are familiar with common negotiation tactics, there are few surprises during the transaction, resulting in better results and greater satisfaction for you in the end. Imagine sitting at your kitchen table with multiple offers trying to decipher what all the differenct terms mean. Could you do it and feel confident in your choices?
A Realtor has a fiduciary responsibility to his or her client. That means they are obligated to put your interest first. We have strong rules in Canada that Realtors must abide by in this area. Being a client of a brokerage affords you the fiduciary duties that you don't get selling yourself.
Are you ready for your phone to ring and for your email to blow up? Many homeowners that try to sell their home independently give up after a week or two because it is such a hassle. Think about it. You’ll be getting contacted directly by agents, nosy neighbors, and potential buyers that want to see your home. Next, you’ll be dealing with disclosures, inspections, contracts, and potential re-negotiations. Once your home is under contract, you also have to deal directly with the Title Company and other parties to bring the deal to a close. A Realtor handles those details for you. Don't forget, you will also have to pay your lawyer to deal with the offers for you.
Realtors only make a commission if your home sells. So what is there to lose? Yes there is commission due on closing but isn't it worth it having someone guide you through the complex steps involved in selling your home and making sure you get the most money out of the sale. I think you will agree...it is!
Copyright © 2023 Jon LaBrash - All Rights Reserved.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.
The trademarks MLS®, Multiple Listing Service®, and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
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