If you’re a homeowner, you know what the traditional real estate market is like. Indeed, this is how most people sell their home with the help of a real estate agent, by arranging the property, advertising it and receiving visitors. However, the most popular method is not always the most suitable…
Select an agent
Selling a home in the Montreal market is no easy task. There are so many agents available, how can I choose just one? Will you take the one you saw on TV or the one your friend recommended who sold a house last week? Choosing an agent isn’t easy, and the wrong decision can have serious consequences for the sale.
The weather
Selling a home on the Montreal market takes time. What’s more, if your home is advertised for more than 60 days, buyers will naturally wonder if there might be something wrong with your property. Indeed, it could mean that your home isn’t as attractive as those in the vicinity, or that there’s a major problem with the building. And even if there’s no real problem with your property, it could negatively influence the perception of potential buyers. Even if the wait is caused by your rejection decisions, being on the market too long could hurt you.
Financing
Selling a home on the Montreal market is often synonymous with trying to get along with a bank. Indeed, most buyers rely on their bank to provide them with the mortgage they need to buy, and some of them have done absolutely nothing in advance. There are many steps to take before qualifying for a loan, and the process is not without its waits.
Commissions
Selling a home on the Montreal market means paying commissions. In fact, both your agent and your buyer’s agent are expected to ask for a commission of around 3% of the sale price. That’s a lot of money!
Invasion of privacy
Selling a home on the Montreal market means enduring repeated invasions of privacy. If you’re selling on the traditional market, you’ll certainly need to prepare your property for visitors. This means that your home will have to be in a perfectly clean state 24 hours a day until moving day. Although visits are usually scheduled 24 hours in advance, you may sometimes be asked to leave at the last minute, or even immediately. Some sellers decide to move before advertising their home, to avoid the inconvenience and workload of frequent visits. However, not everyone can manage two mortgages at once, especially since you don’t know when (or if) you’ll sell.
The sign
Selling a home on the Montreal market means planting a big sign on your property. It’s only natural to want your home for sale to be seen, but this could lead to potential buyers simply stopping and knocking on your door, without prior warning. In addition to being disturbing, receiving such visitors is risky since the buyer is not with his agent. So you have no way of knowing whether he’s a serious, responsible potential buyer or not.
