Real Estate  Resources

Real Estate Resources

Sales Representatives "Turning Realty Into Reality"

Harvey Kalles Real Estate Ltd., Brokerage *

Mobile:
647-991-5242
Office:
416-441-2888
Email Me
Real Estate  Resources

Real Estate Resources

Sales Representatives "Turning Realty Into Reality"

Harvey Kalles Real Estate Ltd., Brokerage *

Mobile:
647-991-5242
Office:
416-441-2888
Email Me

Why someone shouldn't sell their own? Part 3

Why someone shouldn't sell their own? Part 1

Why someone shouldn't sell their own? Part 2

·       Word of mouth and relationships is still the most powerful way of advertising and it’s really easy to get “black balled” by other realtors in the neighbourhood that will prevent you from getting a good buyer. It’s petty thing but it’s real and “people being people”  everyone is out to protect their business. And the relationships they have with clients they won’t just hand them over to a private sale. 

·       Negotiation is another big one -  without having access to the land registry and historicals you have no real way of proving what stuff was bought in sold in your neighbourhood other then what is listed on MLS.  But the MLS system does not give you full historicals it doesn’t show price changes or terminations because something couldn’t sell.   It weakens a persons leverage when you have a buyer who is being represented, you will be at a big disadvantage.

·       Assuming that you would sell a home for the same price you would have if an agent was representing you is a big gamble on a very big asset.  A 10 k to 20 k swing or more either way is always possible and without real expertise in your corner it’s risky and could cost you more then what you saved in the first place. 

·       Good Buyers may feel intimidated. They will spend less time in a for-sale home if the owner is present during the showing, and they'll be shy about discussing its pluses and minuses with their own agent.  People are paranoid and may feel the owner is recording them. Buyers will also be less inclined to make an offer if they know they'll be negotiating directly with the seller. Having an agent on each side creates an effective emotional buffer between the seller and buyer.

·       A first timer at anything makes mistakes whether its learning to drive, your first date, or cooking for the first time.  With some things making mistakes is a learning experience and part of the reward but it’s important to measure the risk for that learning.  I’m not sure I would be comfortable at putting my family in a plane that I was learning to fly for the first time.  A home is a big risk to put in the hands of a 1st timer- while not as risky as flying a plane the potential damages could really have a long term impact.

·       The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor... and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse--a very common occurrence

·       Lawyer fees tend to add up with a for sale buy owner as the contract and paperwork are usually always more bundled and not as thorough as what a brokerage represents.

·       Another big part of the sale is actually making it stick.   Most closings are  3 months away from the original decision to buy.  Buyers start having second thoughts or something changes they lose a job, or a break up.  A deal involving brokerages provides some assurances that the deal will close or there are legal repercussions.  A private sale has the same obligation provided there is a contract but the process is more lengthy and expensive as it involves lawyers.  It could take 2 to 4 years to get your money. 

-Ken Klinaftakis

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