Buying or selling a home on your own can seem like a great way to save thousands or even tens of thousands of dollars in commissions. Between closing costs and moving costs, buying or selling a house can be expensive. It would make sense to save wherever possible. Right? Two truths. The first truth is that buyers don’t pay to use a Realtor®. The commission on the deal is paid by the seller from the proceeds of the sale and split between the buyer’s agent and the seller’s agent. The second truth is that you are not obligated to use a Realtor® when selling a home in this area, but is it smart to go it alone? Here are some reasons you may want to consider partnering with a Calgary Realtor® when you sell your property.
The Benefits Of Working With A Realtor® To Sell Your Home
While the idea of saving money by not using a Realtor® is tempting, here are some reasons to consider choosing a Realtor® partner instead.
Pricing It Right
Many sellers have a price in their head at which they hope to sell their property. This can be based on how much you love your home, the amazing renos you did a couple of years ago, the price you paid when you purchased, how much your neighbour sold their home for, how much better your backyard landscaping is compared to all your neighbours, and even how much your next home is going to cost. Some of this logic is completely relevant, some purely emotional. A Realtor® will understand the factors currently driving Calgary market conditions such as interest rates, available inventory, and employment, and will study recent sales and available listings to create a comparative market analysis with adjustments for your quality renovations and superior landscaping. This analysis will help you price your home correctly and objectively and position your property for the next sale among its competition.
It's A Lot Of Work
It is probably safe to say that although selling your home is a priority, it is not your full-time job. Calgary is currently experiencing seller’s market conditions. This may mean that interest in your listing will be significant and potential buyers will expect the lister to be responsive and fast moving. From the moment you decide to list your home for sale, there is a lot to do. Cleaning and purging, possibly staging, professional photos, measuring, listing, marketing and advertising, fielding calls from interested parties, showing the home, negotiating with buyer’s agents, coordinating inspections, preparing documents, and more. Your time is money. Consider the cost of taking on all these tasks vs the cost of paying a professional.
Buyer’s Realtors® May Not Show Your Home
The majority of buyer’s choose to work with an agent, especially since they will not pay commissions themselves and can leverage the knowledge and experience of a professional Realtor®. They may have even signed a buyer’s agent agreement that protects their Realtor® and ensures that the agent will be paid for their time helping a buyer find a home. If your home is listed as for sale by owner (FSBO), buyer's agents may be reluctant to recommend writing an offer to their client because they are not guaranteed a commission. You can, of course, agree to pay the buyer’s Realtor® a commission anyways, but FSBO homes are often viewed as riskier transactions.
Negotiations Can Be Tricky
You have received an offer on your home. Hurray! But now comes the negotiations. The buyer’s agent will be working diligently to secure their client the most beneficial price. You are motivated to secure the highest price for your home. Negotiating an optimal sale price is complicated. It is not just about sticking to your list price. It is a complex process of understanding the market conditions and recent comparable sales, comparing multiple offers when applicable, reading the buyer and their agent to understand where there might be room to move up or down, and protecting your investment. A Realtor® will be a skilled and confident negotiator, backed by insight and experience, unemotional and objective, knowing when to stand strong and when to bend, and focused on getting the most favourable terms to help you achieve your goals for selling.
Is It A Good Decision To Partner With A Calgary Realtor®?
Deciding to list and sell your home on your own may save you money. But it is a complicated process and without the experience and market insight to price your home correctly, market your home effectively, and negotiate confidently to protect your investment, you risk losing more on your sale than commissions would cost. If you want to explore selling your home FSBO vs working with a licensed Realtor® consider a complimentary consultation with the team of real estate professionals at Tanya Eklund Group. By partnering with us to buy or sell a home, you can leverage all of the information and insight we offer to make the best decision to protect your investment. We are committed to transparency and client education and to selling your home for the most optimal price and terms. We are a strong partner to guide you through the complexities of listing, marketing, and selling your home in Calgary. To learn more about the benefits of working with a Calgary Realtor®, connect with our team by calling (403) 863-7434 or through our contact form. Let’s get your home sold together!