Are you considering selling your own home or working with a real estate agent?
Many sellers feel that real estate commissions are too high. On a $300,000 home, those commissions can add up to $15,000 or more. In theory, you can save thousands of dollars if you sell your own home. But do you have the time or skills to sell your own home?
We will provide you with some important guidelines that may help you decide what the best option is for you.
You should use an agent if
- You are looking for someone who has real estate experience and access to the resources available – someone who specializes in knowing the housing market you live in, who knows what has sold and for what price, how long it took for them to sell, how many houses are for sale and for what asking price – a real estate agent or broker can list properties on MLS, the national Multiple Listing Service
- You are looking for someone to handle almost every aspect of the sale for you – helping establish the asking price, handle all the advertising, visits, and paperwork
- You have no time to dedicate to networking and home visits
- You want to control the costs upfront – no unknown marketing costs
- You want someone to help with the negotiations of the sale price
You should sell your own home if
- You enjoy doing the legwork– research what other houses are on the market and what they are listed for to prepare a reasonable asking price for your property, prepare classified listing and contact newspapers, write up and post on-line advertisements, stage your home or hire a home staging specialist, and prepare sales contract templates
- You are looking to minimize your sales costs –Note: many private sellers often end up paying a commission to the buyer’s agent, usually about 2.5 per cent of the sale price
- You have the time and availability to schedule home visit
- You want complete autonomy over the price –establishing the asking price, changing it at will
- You want to negotiate the final sale price
If you decide to use a real estate agent, look at our ‘Find an Agent’ tool.