How to sell your house without a real estate agent

- [Announcer] Welcome to Homebuyer's School

brought to you by Brookfield Residential.

- Hi everyone, and welcome to another episode

of Homebuyer's school.

Today I'm joined by Kevin French

with ReMax Realty and the question we're going to answer

is can I sell my home without a realtor?

So Kevin, obviously you're a realtor.

Maybe a little biased answer but

is it possible to sell your home

without a realtor?

- Absolutely.

It's typically better to do that

in a seller's market, instead of a buyer's.

Currently we're in a buyer's market

so the advantages weighing on the buyer's side,

it's much more difficult to sell

so if you're not aware of how

to properly market your property,

price the property, then those things

are going to work against you, especially right now

more than ever.

- I guess you need as many resources as you can

to help you sell your home.

- Absolutely.

- Okay and if I were to take that route though,

if I wanted to sell the house on my own,

what are some of the steps I would do to accomplish that?

- So there's multiple site, obviously you can find

things such as Kijiji or Forsalebyowner

and you can list it on those,

or you can look for assistance through

Property Guys, ComFree.

Property Guys is a private system.

Your property wouldn't be on the MLS system

but most people are aware that it exists

so they can search there if they are looking

for a property.

And then with the ComFree option,

the property would be on MLS

so you take a package that they offer,

and then you would list the property with them.

They would coordinate a portion of the things

for you and then it would be on the MLS

and then you would help with the showings

and organize all that,

deal directly with whoever's looking to purchase,

whether it's a realtor or a single individual.

And then once an offer is received,

then that would be part on the owner,

who's selling the property themselves

to set a price they are comfortable with

but they would have a bit of assistance

from ComFree.

- Okay, but you're taking care of everything though.

Like booking those appointments

or people calling you to say hey, I want to

come visit your home.

- Making sure the home is show ready.

Making sure that it's showing in the best possible way.

Making sure that you're taking care of everything

that you want to make sure that you're taking care of.

Those little small details make the biggest difference.

The biggest thing that needs to be considered

is pricing.

I often list a property, I go in and let's say

the property is worth 499,900 and the person

happened to have purchased it in peak market

in 2014, so they owe 520.

So now all of a sudden they want to list for 549.

So they tell me if I list at 549,

then we'll negotiate down to 540 and then after the fees

we'll be somewhere in the ballpark

of paying it off.

Well that doesn't change market value.

So you can't really do that.

So what happens when you leave the sale

in the hands of the person trying

to sell the property and they're trying to

do it on their own, they may take that route

where they're trying to look for,

well what are the expenses that I need to cover

and then that's what we'll price the home

which has nothing to do with market value.

- So you're saying you might leave some money off the table?

- Well, the property, if you do that,

if you overprice it, it's just going to

sit on the market longer and then it's going

to become stigmatized

and then when it does actually sell,

which might be years later or you might

choose to list with an agent shortly after,

being unsuccessful trying it on your own,

then the property would sell

at fair market value but now people are going

to see that in the history.

It sat on the market for three months,

or it sat on the market for a year, who knows?

- When it could have sold--

- When it could have sold much sooner

and probably for more money.

- Anything else to add?

- No.

- Awesome, well thank you very much Kevin.

That's it for our show today.

Thank you very much for joining us

and we'll catch you next time.

- [Announcer] That's another edition

of Homebuyer's School.

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