If you had no experience in cutting hair, you’d never just pick up a pair scissors and give yourself a new do, right? Well when it comes to employing a real estate agent to help sell your home, more and more people are opting for the self-serve approach.
The private sale of homes is becoming fairly common with advances in technology and an increase in For Sale By Owner (FSBO) companies. With a few clicks of a mouse, you can list your home on several websites that will give you exposure to thousands of homebuyers.
If you succeed in making the sale, you’ll save yourself real estate commissions of 3-5% of the purchase price of your home. For example, a $200,000 house sold at a 5% commission rate is a $10,000 fee! A big difference when compared to the cost of services like Propertyguys.com or Comfree.com at $250-$1,500.
Typically, private sellers will use one of the many For Sale By Owner network sites, such as Comfree.com, PropertySold.ca or PropertyGuys.com. These companies will offer different service packages to help you sell your home. Basic packages range from $150-$500, and include exposure through their website, lawn signs, and a personalized consultation with sales rep. The more premium packages go from $500-$1,500 for additional advertising support (i.e. in local newspapers, or real estate magazines), and they perform a competitive market analysis to help you price your property.
This system also weighs heavily on the interaction between the seller and their lawyer. A lawyer is best equipped to handle situations surrounding mitigation of fraud or any other legal concerns.
When it comes to deciding whether or not to try and sell your home without the services of a real estate expert, consider the following:
For many, a living, breathing real estate agent is the most comfortable option when making such a significant transaction. Agents offer exposure through their network of contacts and on websites like the popular MLS.ca and Remax.ca.
These trained professionals are also knowledgeable about your local housing market and can give advice on things like the best time to list your property and how much to sell it for. They can guide you through the process and negotiate the sale on your behalf.
Ultimately, only you can make the decision if the service of an agent is worth the fee.