May 3, 2010
With all the Competition Bureau vs. CREA stuff going on lately, whether the extraordinarily high commission rates agents charge are justified or not is a hot button issue. Here are some situations when you might not need their help– or the fee.
- You have time to devote to the sale— If you don’t mind spending your time making your property visible to potential buyers, responding to inquiries etc. then you might be able to avoid using an agent.
- You are familiar with standard procedures— Although real estate agents are not often lawyers as well, they oftentimes provide you with useful guidance through the contractual process. But you usually need to retain a lawyer for the process anyway. Also, although real estate agents can help a lot with setting a correct price, you can oftentimes get an appraiser to do this for a smaller nominal fee.
- You’re around to show people your home— If you can handle sucking up any harsh criticisms about the home you owned and you have time to show potential purchasers the property, then you might not need an agent.
- You know the marketing lingo and what sells a property— If you’re familiar with the property market and what descriptions tend to be most effective, you might not need an agent! Using professional-looking photos and a virtual tour can do wonders for your listing!
So there you have it! If you think you can handle this stuff, then GO FOR IT! And remember, if it doesn’t work out it’s not like you’re SOL. You can always hire an agent after a little while. Just to keep yourself on track, you might want to try setting a date at which you will hire an agent if your property hasn’t sold yet.