By: Team Unique

For Sale By Owner vs. For Sale By REALTOR®

Tags: For Sale By Owner, Selling Your Own Home, Selling with a Realtor®

It’s a sellers’ market, and it’s so hot that houses are virtually selling themselves and multiple offers are the flavour of the moment.  From the outside looking in, it seems to be unbelievably easy to sell a house in this market. Therefore, many sellers find themselves asking whether they should hire a Realtor or simply sell their homes themselves.  The truth of the matter is that anyone can sell a house; however, it’s not as easy as you might think…
 
Selling a home is not a simple procedure – it is an extremely emotional and stressful process, involving substantial sums of money and strict legal requirements. The success of any real estate transaction is dependent on strict adherence to procedure as the potential for making costly mistakes is high. Most sellers are unaware of the majority of legal requirements associated with each transaction, which can result in serious legal consequences.
 
Basically, you have three options when it comes to the sale of your home.  You can choose to list with a Realtor representing a full-service brokerage; you can choose to list with a discount brokerage; or you can simply do it all yourself and put up a custom FOR SALE sign on your front lawn.  However, before you decide, your best course of action is to do your due diligence, investigate all the options, and arm yourself with the information needed to make an informed decision.
 
Taking on the sale of your house is no small task.  Can it be done? Absolutely, and don’t let anyone tell you any different.  At the end of the day, if your house is priced right, it will sell, regardless of whose sign is planted on your lawn. The burning question, of course, is whether a Realtor could ultimately nett you a higher price, even after the commissions are deducted.
 
Before choosing which of the three home selling options you go with, bear in mind that for every month your house lingers on the market unsold, you incur numerous costs such as mortgage, property taxes, insurance, etc.  If you have taken on another purchase commitment in the meantime, you may find yourself in the unfortunate position where you have to sell at a reduced price, often much lower than what a Realtor might have got you even after commission deductions.
 
Whichever option you ultimately choose, ensure that you do your due diligence – not all Realtors are the same, just as not all discount brokerages are the same.  Do your research and make sure you know what you are signing up for and what costs you will incur.  The old adage that you get what you pay for is no truer for any industry than it is for this one.  Know what you are getting for your money if you decide to list with a brokerage – discount or conventional – and ensure you understand what you are in for if you don’t.