Are you really saving money by selling your own home?

If you have been thinking about putting your home on the Barrie market you may have been entertaining the thought of going the “For Sale By Owner” (or FSBO as we like to call them in the biz) route and having a go at selling it yourself. Why? To save money of course and avoid the commission charges you’d be paying your Barrie real estate agent.

This concept is not new but we have been seeing an increasingly number over the past few years with independent companies that are marketing themselves as the “All in one kit to sell your own home-Commission Free”. The question that sellers really have to ask is “Are you really saving money by selling your home yourself?” Well, I will give you a few things to consider, then you can decide.With 90% of Barrie buyers relying on a Real Estate professional to find them a home, Realtor’s will look to their local MLS system, which is actually a completely different system then what the general public views on Realtor.ca. The Realtor MLS system shows more in depth listing information and focuses on the Barrie region specifically, therefore if your FSBO MLS listing is associated with an Ottawa agent for instance, your home will not show up in the local Barrie Realtor MLS system and will be missed by 90% of your potential buyers.

One of the more difficult things that a seller will face when going it on their own, is trying to set an appropriate dollar value on their home to list for sale. A Real Estate agent can effectively asses your homes value based on their expertise and knowledge of the Barrie market. As a homeowner, your valuation of your home may be based on a bias level of emotional attachment and therefore may not be the true opinion of value in the market. What you also may not know, is that a buyer may actually expect to pay less for your home due to the fact that a real estate commission isn’t a factor which could mean that you end up selling your home way below market value, in that case what are you saving? A full time Realtor who spends thousands of dollars on advertising and marketing your home, may actually be able to bring up the value of your home by using the appropriate marketing tools and exposure.

Selling your home yourself may sound straightforward, but what happens when things get complicated? You may have taken the time to learn the basics about selling your home, but more often then not a real estate transaction is not straightforward and issues tend to arise. Your Barrie Realtor has probably already dealt with the same or similar issue in the past and would know the appropriate solution and be able to act immediately. A Realtor may also be liable for any problems or misrepresentations that could come up in a real estate transaction and would also be the one under fire if a lawsuit were to occur, where a FSBO would be on the hook themselves and would now have to deal with the legal ramifications if they were to make a serious error.

When it comes down to negotiating with potential buyers, the process can be lengthy, trying and down right exhausting. A homeowner likely has emotional attachment to their home for many different reasons and may not be able to negotiate in an effective manor. A Realtor can take the emotion out of it and negotiate on your behalf to ensure you receive the best value for your home.

At the end of the day, using a FSBO company to sell your home on your own, isn’t actually “Free”. It can range in price anywhere from $200 to $1000 and comes with no guarantees that you will actually be successful in selling your home. If you enlist a Barrie Real Estate Agent to list your home for sale and after months on the market it doesn’t sell, you are out absolutely no money at all. When you come to draft an offer, take legal advice, and that isn’t free either! The cost of marketing and exposure is all at your Realtor’s expense and of course you have to also consider his or her time spent discussing and showing your property to potential buyers as money well spent. Why? Well you are at work doing what you do earning a living while someone else is selling your home for you. ┬áIf you are unsuccessful with using a FSBO company and end up listing your home with an agent anyways, you have just thrown away your money and are no further ahead.

All in all, the high cost of selling a Barrie home on your own simply isn’t worth the risk and time spent.

Call a licensed, insured Barrie Real Estate Agent and do it right the first time.

Contact The Hocking Homes Team at 705-252-7939 or email us at team@hockinghomes.com for the right advice when it comes to selling your home.

 

 

Filed under: BarrieBarrie Real EstateBarrie Sellers informationDistrictFor Sale by ownerFSBOSimcoe County

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