The Pitfalls for “For Sale By Owners” in Toronto and Durham Region:
If you’ve ever considered selling your property, you’ve undoubtedly wondered: “Do I need a realtor to sell my home?” or “Why can’t I sell my house without paying extra commission to a real estate agent?” or “It’s such a seller’s market, I can easily sell my house myself.”
In all the years that The Weir Team has been buying and selling houses and condos in the Toronto area plus Pickering and beyond, we can wholeheartedly say, don’t do it!
There’s no doubt that we are biased in this opinion yet we do understand that sellers should be able to profit as much as possible on the sale of their home… but each time we encounter a seller going it alone we witness so many things they’re doing which actually stands in the way of them profiting as much as they could if they were using an experienced realtor – not just any realtor — or friend of the family realtor – or super discount realtor — but a professional real estate agent who understands the art of selling and has a tremendous amount of knowledge of the real estate market that your property is in.
In only the rarest of rare occasions does a seller have the know-how and patience to be able to sell their own house. Coping with the logistics of showings, last minute requests and cancellations, constant phone calls, lack of feedback after numerous showings, legal contracts and paperwork, etc… it can all become a bit much for many people. Not to mention the stress of negotiations and completing unfamiliar contracts without guidance.
And it’s unlikely that many sellers understand the mindset of the buyers that are currently shopping for houses. Truly knowing how buyers think is extremely important and that’s something Cameron Weir and Scott Hanton have been able to excel at.
The Weir Team works constantly with buyers in all price ranges from Riverdale to East York to Pickering and to Whitby. We hear everything that the buyers have to say about how every house is presented and we know how to get top dollar for a house.
Even in this busy seller’s market, we’re seeing excellent houses sitting on the market for weeks… when they should be gone in just a few days. That’s usually a clear sign that an experienced real estate agent is not involved.
There are some success stories but those are very rare in our experience. I did recently work with For Sale by Owners in Whitby who were absolutely wonderful and knew exactly how to present their home and conduct an evening of multiple offers. They did an excellent job… however they ended up selling for about $20,000 under market value. Without the experience and research skills, how would they have known? They think they saved a few thousand dollars on commission but instead may have lost much more in the end.
So what about the sellers who say, “But my realtor did nothing! I could have done a better job myself!” Sadly that does happen and we see it often when sellers choose a realtor based on the lowest commission charged.
The Weir Team prides ourselves on excellent outcomes for each seller. We are only as good as the last property sold and we work well beyond the firm deal to ensure the seller is guided all the way through.
There is a ton of work and stress that goes into preparing a house for sale and ensuring it is exposed to the largest audience possible. Not to mention everything needed to deliver a smooth closing day. No house is the same and every sale has its own unique differences. If you choose to go it alone and try to sell your house without expert guidance we hope it will be quick and painless. But if you want seasoned professionals to make it an enjoyable process and profitable outcome, always make sure to interview several agents… and please include The Weir Team in your call.