Toronto Real Estate: Should You Hire an Agent or Sell Your Home Alone? by:Robert Kennedy
There are two main marketing avenues that people choose from when selling their home: hiring an agent or placing the property up for sale themselves. There are advantages of each as we will see later in this article. The choice you make will depend primarily upon your needs, goals and motivation.
Before you make your decision, you should weigh the pros and cons carefully. We have compiled a list of the advantages and disadvantages associated with each option in order to help you do just that.
The Pros and Cons of Hiring an Agent to Sell Toronto Real Estate
There are many advantages that can be yours if you choose to hire an agent to sell your property for you. First and foremost, an agent will be able to expose your property to more potential buyers than you could on your own. Agencies even work together and share listings. So, the simple fact that you are listed with an agency in Toronto means that all agents will be able to show your home to their clients.
Agents also do most of the work for you. You will not have to take the time to show your home or negotiate with buyers. In fact, you will probably never have to speak to the buyer directly. An agent also acts as your advocate and fights for what is in your best interest at all times. Agents know all of the laws as well and can avoid many pitfalls made by novices.
Of course, there are drawbacks too. Agents are expensive and will require a commission of approximately 3 to 6% of the sale price. They will also require that you stay in constant communication with them, and they may ask to show the house without giving you much notice.
The Pros and Cons of Selling Your Own Home
If you want to sell your own piece of Toronto real estate, you will not receive as much exposure as you would if you went with an agent. You will also have to do all of the marketing, showing, negotiating and paperwork yourself. On the other hand, you will not have to pay commission and you can keep all of the proceeds from the sale for yourself.
There are other benefits of selling your home on your own as well. When you sell your own home, you have all of the control. You choose when you show your home and to whom. You can negotiate with buyers directly and offer deals according to their personal circumstances. Keep in mind, however, that you will be doing so without the expert advice of a professional in the real estate business. At the very least, you should hire a knowledgeable lawyer so that you avoid any legal hassles.
Ultimately, the decision is yours to make. Again, make an informed decision. Dont sell your home without knowing all of the advantages and disadvantages associated with each method.
About the author
MyCityToronto is Toronto's premier source of Real Estate information. Whether you are buying, selling or leasing, you will find the best professionals to represent your interests by visiting http://www.realestate.mycitytoronto.com.