Selling For Sale By Owner (also known as a FSBO), without representation, is not terribly difficult if the market is moving fast and inventory is snapped up as soon as it becomes available for sale. However, for most FSBO's, finding a qualified buyer is typically a challenge. One of the secrets to a successful sale is enhanced market exposure. After all, we know that almost 85% of homebuyers begin their home search online and if a buyer does not know your home is for sale then an offer isn't possible. Therefore you must look at every option to increase your home's market exposure. And with this free Internet web site, you'll do just that. Check it out!
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Increased exposure means more buyers!
The National Association of Realtors (NAR) reports that the overwhelming majority of FSBO's end up listing with a Realtor. Part of the reason is because most buyers are represented by an agent and because most Realtors will never take their buyers to homes that aren't listed on the MLS. The truth is that buyers who work with a Realtor are better equipped through their agent to conduct a much more concise and efficient search for their new home. And let's not forget it costs buyers absolutely nothing to be represented by an agent.
Here's How I Can Help...No Gimmicks, No Games
Marketing is extremely important and if you don't price your home right, no amount of advertising is going to produce a sale. For the most part, Toronto For Sale By Owners (FSBO's) don't have the tools to properly research comparable sales in their neighborhood. They typically end up listing their home for either too much or too little. With the guidance of an expert, who has access to other nearby listings and sale prices, you can make sure you competitively price your property. Remember buyers are savvy these days and have a lot of options. If something isn't appropriately priced, they know, and they'll keep on looking. That's why I'm offering you an absolutely FREE competitive market evaluation (CMA) of your home before you list privately.
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What Is A Competitive Market Analysis (CMA)? It's a comparison of sales prices of similar properties in a given area for the purpose of determining the fair market value of a property. It's one of the methods real estate professionals use to determine the value of a home for both sellers and buyers. My report will include the following information;
1. What buyers have recently paid for homes similar to yours in your neighborhood?
2. What sellers are currently asking for homes similar to yours in your neighborhood?
Wait...There's More
In a real estate market as big and broad as Toronto, there are many obstacles facing Toronto For Sale By Owners (FSBO's). The Toronto Real Estate market is huge (at any given time there are over 120,000 property listings). Which means, unless your home is really something special, you've got to market that piece of real estate where potential buyers are going to look. Here are some tools that can better prepare you before hitting the market.
Want To Know How To Sell Your Home... Fast!
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Want To Put More Money In Your Pocket When Selling?
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I Know What You're Thinking...What's The Catch?
There is none! You're probably asking yourself at this point, "Isn't it sort of silly for a Real Estate agent to be telling people about this? Won't he lose business?" Well, first of all, my way of doing business is to give clear, honest advice to my clients so that their best interest is served, not mine. I believe honesty and integrity creates happy people, which in turn builds a good reputation and thus increases business. Second, while For Sale by Owner may be the best approach for some, it has some significant drawbacks which preclude most people from even considering it.
Is There Anything Else I/We Need To Know?
We all know there is only one reason people choose to sell privately and that is to save on commissions. What many people don't know is that you don't need to pay huge real estate fees to work with a real estate agent. Fortunately there are Real Estate Brokerages who offer professional services at low rates which provides private sellers with the best of both worlds. Check it out!
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One More Thing...Consumer Protection & Liability
All Realtors in Toronto, as well as the rest of Ontario, carry Errors & Omissions Insurance to protect sellers and buyers in the event of a mistake, misrepresentation and so forth. Individual home owners do not. So, for example, if you're selling your home For Sale by Owner, and you mistakenly make an error on the square footage of the property or some other detail and subsequently get sued by the buyer, you have no protection, whereas if you're being represented by a Realtor, the Realtor would get sued and their insurance generally would cover any loss. A single mistake could end up costing you far more than a Real Estate commission.
Realtor vs. FSBO...Which One Is The Better Option?
While clearly a For Sale by Owner method of selling is not what I would recommend in most cases, in some instances it may be in your best interest as a last resort. One example would be if the equity in your home is not sufficient to be able to pay commissions, mortgages and the other costs involved. A good Realtor, who truly has your best interest at heart, will make sure you know before listing your home for sale, exactly how much money you'll walk away with when all is said and done and will not hesitate to inform you that it may be in your best interest not to list with them.
So What's The Bottom Line?
That's up to you, all I ask is that if you decide to work with a real estate agent, you'll give me an opportunity to meet with you!
