How to sell real estate without a realtor
How to sell your house without a real estate agent
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- [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.
Tune in next time for more expert tips and tricks
and visit homebuyersschool.ca
to bring you one step closer to finding
your dream home.
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