When you put your home up for sale, it will possibly be one of the biggest transactions of your life. When you make the decision of selling your home you can sell by yourself, also known as “for sale by owner” (FSBO), or you can hire a professional Real Estate Agent. A Real Estate Agent is professionally trained in the process of selling and buying homes. Instead of selling your home yourself, you want someone who knows what they are doing and can avoid any huge mistakes or issues that could arise. These professionals will provide a seamless transaction with a positive outcome.
There is a lot of work that goes into selling a home. A Real Estate agent can give you the advice to maximize the sale of your home by knowing how to market your property to the right Buyers to achieve the best price. “For sale by owner” properties usually lack experience and qualification when selling a home. Using the right strategy to get you the right price is worth the cost of a Realtor’s service because it will net you more money in the end.
When you hire a Real Estate Agent, you both have the same objective: to sell your property for the highest value possible. If you’re thinking of selling your home yourself, you need to consider all of your options to make your sale a success and that includes using a Real Estate Agent.
Here are 5 reasons why selling your home yourself may lose you money:
Marketing
For Sale By Owner properties often end up losing valuable marketing that only an experienced Realtor can offer. A Real Estate agent has a number of clients and connections in which they could find a Buyer who could be a perfect fit for your home. They are entrenched in the market, constantly meeting new clients and growing their database of potential Buyers for your property.
They can also highlight your property to the right Buyer and use marketing and the right strategy to get you the highest price. A Real Estate agent can access a much larger network than a homeowner could. This can help sell your home much faster as you are reaching a larger number of possible clients quickly.
Harder to sell
For Sale By Owner homes, often lose money due to inexperience as many home Sellers aren’t aware of the entire process and how to do everything correctly. A Real Estate agent can provide huge value when looking to sell your home as they represent Buyers every day and know exactly what clients are looking for in the current market.
For Sale By Owner homes are harder to sell because it is the Seller’s responsibility to pay commission to the Buyers Real Estate agent. This will deter most Buyers’ Realtors from working with a For Sale By Owner home.
By selling your own home, you may overvalue or undervalue your listing price. In the end, this could cause your property to sell for less, or have your property stay on the market for a longer period of time than you intended. A Real Estate Agent knows the market better than you and can maximize the value of your home.
Without a Real Estate agent, you are losing valuable expertise that can make the process of selling your home smooth and stress-free. An agent is experienced in negotiations and getting the best price for your home. Many Buyer’s agents may not want to work with someone who isn’t educated in the process of selling a home or in the neighborhood that you are listed in. When you are representing your own home, it can deter agent’s from bringing prospective Buyers to your home due to your lack of knowledge and experience with the transaction.
Proper Insurance/ Liability
When using a Real Estate agent to sell your home, you can avoid major pitfalls. Licensed Real Estate agents to have Errors and Omissions Insurance, which allows them to defend themselves if a client decides to initiate a lawsuit and the court’s costs or legal fees are out of your hands. This will cover them if there are any mistakes or mishaps that may happen.
There are specific laws when selling any property that could have serious consequences if not followed correctly. To avoid being sued, you do not want to make any legal mistakes. A Real Estate agent is educated and experienced in the process of selling and buying Real Estate to ensure this doesn’t happen. They are also governed by a code of ethics under The Real Estate Council of Ontario and must maintain their insurance and an active license.
Trusted professionals
When dealing with the largest asset you own, it’s important to have a trusted professional who is trained to guide you through the process. A listing agent’s whole purpose is to get you the highest sale price possible when you list your home. Apart from getting you the best sale price possible, they will sell your home faster and market the property better than you will be able to. They know how to maximize the sale price to get you the most money and position the property for optimal success. Working with a trusted professional to sell your home will help with everything involved from getting the property ready, completing the home inspection, marketing the property, and more.
Not prepared to sell
First impressions are important to prospective Buyers, so everything should be prepared perfectly before listing your home for sale. Real Estate agents are experts in what makes homes sell, and prior to the listing we walk through your home and point out changes that need to be made to attract Buyers and get the best offers possible.
When you work with us, we offer complimentary staging to all of our clients that are selling their homes. Whether it’s a deep clean or a bathroom that needs to be recaulked, our team will handle it all. Our service will elevate the way your property is seen and help sell it for its highest value. Staging your home can attract Buyers and help your home sell faster.
Since your home is likely your biggest asset, a great Real Estate Agent is more than worth it when deciding to sell your home. The home selling process should be seamless and stress-free for you, and it pays for itself when you consider all of the other costs involved and how important a transaction this is. Strategy and marketing, along with a skilled agent, are key to selling your home in Toronto for top dollar. Book a call to list with us today, or to ensure you are fully prepared before you list your home for sale, download our FREE seller’s guide.
