Selling your home with or without a real estate broker
by Nathalie Lapointe
What you’ll learn
- Interesting savings
- The time and effort required
- What you must know, and the traps to avoid
The saying goes that if you want something done right, you do it yourself. If that is indeed true, what about when it comes to selling your home? Do you sell it yourself, or do you use a real estate broker? Let’s examine both options.
A realtor. Sure, but at what cost?
Financial gain: Generally, in Quebec, a real estate broker’s commission rate varies between 4% and 7%, which translates to $4,000 to $7,000 for every $100,000 of your property’s sale price.
However, there are other costs to be considered. Printing placards, hiring a professional photographer, online listings, and other inherent marketing expenses can easily cost you a few hundred dollars. In a highly competitive market, neglecting these aspects could result in a significant loss of opportunity.
Time and patience: It can be tempting to save on those fees, but do you have the time and, most importantly, the energy to invest in this? Those who can’t stand their cell phone ringing at all hours and trading e-mails with strangers should definitely consider using a real estate broker.
Your timeline: Do you have ample time to sell your house? If you’re in no hurry, it won’t cost much to put it on the market and deal with the calls and visits at your leisure. If, however, your situation requires a quick sale without sacrificing price, a good realtor’s network of clients can help speed up the process.
A demanding market
Knowing how to negotiate: It’s important to be honest with yourself. With the help of the Internet (and a lot of free time!), anyone can read up on the market and know almost as much as a professional. The art of negotiation is not a given, and a lack of experience could end up costly in the long run.
Surround yourself with professionals: You can play the part of broker for your home, but improvising as an evaluator or building inspector may prove to be a little trickier. You don’t necessarily need their services, but they can help you set a fair price in regards to the market and the state of your property. Learn more about the costs of purchasing or selling a house.
Hardball buyers: Buyers may also be looking to take advantage of your savings. Knowing that they’re not dealing with a realtor, some shrewd clients will be bargaining more intensely in order to carve out a part of your profit for themselves. Don’t forget that you may also be confronted with negative comments. Unlike your friends and family, buyers won’t always pretend to love your colour schemes!
Presentation: An experienced realtor can give you home staging tips and suggest small repairs that can help you get the best price. Read this article to discover the basics of home staging. It’s also best to use a professional photographer to really set your house apart from the competition on the web. You may have the latest phone, but its pictures will pale in comparison to those of sellers using realtors.
A realtor you can trust
Network of clients: Since they are constantly working in the field and interacting with other professionals, your realtor can showcase your house on listings that have a much wider reach than those available to the general public. More and more, a realtor’s social media following can make a big difference.
A good real estate broker should adjust to your rhythm, your needs and your requirements without fail. However, a realtor who doesn’t have your best interests at heart may be tempted to push you to accept an offer too quickly. Don’t forget, Key takeaways
- With or without a realtor, learn what you can about the market.
- Get ready to invest a lot of time and energy if you choose to sell the property yourself.
- A good realtor should always work with your needs in mind.