I sold my last house in Winnipeg using ComFree. The process was very easy and they provide good value. I would recommend ComFree. My neighbour gave up on an MLS realtor after many months of nothing happening. He sold the place himself using ComFree in 2 weeks!
I have sold houses without a realtor. Comfree and similar listing sites didn't do anything. Best results came from the 5 day method, yes you can sell your house in 5 days and it works.
Another thing that worked was advertising the property and dropping the price $5000 every week ( this was a $125000 semi detached in a small town, many years ago). Advertised, with the weekly price drop, open house every Saturday, first 2 weeks nothing, 3th week got 4 offers with deposits, sold for $115000.
You have to make up your mind if you want to sell or piss around. Nobody is going to pay more than they have to, because of your charming personality or amazing ad writing skills. Of course this only applies to normal markets, I don't know what it is like to sell in Toronto or Vancouver.
Its easy if you have some basic knowledge in RE. It could be a nightmare if you have no clue.
For me, its very easy to sell without a realtor which is why I recommend it but it may not be for everyone.
My advice is to get informed before you list.
There are less expensive alternatives to ComFree out there. There are some points to consider if you are thinking of selling it yourself. Can you be available at all hours to answer phones and emails that have inquired and for unexpected showings? Are you prepared to battle with an experienced realtor who is bringing clients in and is trying to get the best price for his/her clients? When an offer is handed to you, do you know how to read it and all the fine print. This is a legal document so you need to know what you are signing. Do you have a lawyer that will read it over and advise you on red flags that the other party may have thrown in? Others have mentioned about the right listing price. For $300-$400 you might want to have a professional appraiser do an appraisal and set a price. You can show this to prospective buyers. You might want to have a home inspection done so buyers can read it and see if any problems exist that might cost money to repair. Good luck if you go ahead.
Thanks for the replies, some helpful advice here. I've looked at ComFree and a few similar outfits, and it seems like a fairly straightforward process. But at the same time, I worry about leaving $$ on the table in excess of the cost of commission.
I see some value in a realtor, in terms of handling the admin, the whole sale process, dealing with showings etc., I just find it very difficult to cut what will amount to a $40-60k cheque for the service. Particularly given that the exact same service (arguably less) in a cheaper market comes at a fraction of the price.
Ihave always used a realtor and my agent is also a very good friend but it would sting to pay the 80k in fees if I ever sold my existing home ,especially in the markets we have today .I bet if i put a cardboard sign up I could sell my house any weekend now without any effort.
That's my thinking as well. I have no doubt the place will sell, my only concern is maximizing my net proceeds. If an agent can extract 5% more out of a buyer than I can listing myself, it's worth the money. I just find it hard to believe that this is the case.
Originally Posted by marina628
In a way it's a silly question. You'll never know what a realtor will get compared to selling it yourself. You can only sell the house once.
Also, you'll only ever have one buyer. If you find it, or someone else brings it, there is still only one house.
The price you sell for is the price you finally settle on. Its always going to be maximized because you can never get more and we're happy to accept the number. It's the most you could get at the time you settled.
As I said before, you have to set a price you want and try for that. If you get a realtor, add his fee to the price you want and don't go below that. If a realtor gets you more, then he was with it. If he comes back with less, don't agree to it and try to sell it yourself for the price you want...if you think you can (maybe your number is to high).
No one ever forces you to sell.
so even if the agent does extract an extra 5%, you have to fork it over to him. what's the point? And extracting an extra $40k-$60k is no easy feat. Bottom line, you set a price you want and stick to it. If you are unsure of the value, get your place appraised. The appraisal cost is minimal and you eliminate lengthy negotiations with potential buyers since you have a known value.
Originally Posted by Dmoney
Good point on shooting for a number and being satisfied with it.
I have an agent coming over, will listen to the pitch, ask my questions then make a decision.
I'm looking to take advantage of a market that in my opinion has lost its mind. I think realtors are a big part of the market running away, by scaring their clients into getting in before their "dream home" is out of reach.
My concern with the comfree route is that buying agents will keep their clients away. Ideally, I want buyers' agents working for me, by pushing their clients to put in the highest bid possible.
Not sure how that dynamic would change with vs. without a realtor on my end.