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We live in a world where everyone does a little bit of everything, without ever having to turn to specialists offering expensive services. People buy securities on the stock market without a broker and draw up wills or testamentary trusts without a lawyer. Some even go so far as to renovate their homes without using carpenters. As we become increasingly independent, why should we deny ourselves the advantages of selling real estate without an agent in Quebec?

The savings generated multiply profits.Savings

Agents cost money, it’s as simple as that. And, in most cases, it’s a lot of money we’re talking about. A real estate transaction can cost up to six percent of the sale price in fees. This means that a property selling for $500,000 could cost the seller around $30,000, split between the seller’s agent and the buyer’s agent.

This is a considerable sum to be deducted from the sale price. When a seller has a large amount to pay on his mortgage, it may be hyper-advantageous to eliminate these commissions. In fact, it significantly increases profits. However, don’t fall into the trap of thinking that just because you don’t have an agent, your buyer won’t either.

Most owners who sell without an agent end up paying between two and three percent of the sale price in commissions to their buyer’s agent. What’s more, if you’re new to real estate, chances are your buyer’s agent will ask for a higher commission, since he or she will have to work harder to compensate for your lack of knowledge and experience.

More power over negotiations

While it’s true that you can’t force your buyer not to have an agent, the fact that you have more leeway on the sale price is not to be overlooked. In fact, knowing that you don’t have an agent, your buyer may feel more at ease during negotiations, since he or she will be aware of the amount of money saved on this transaction.

What’s more, it’s not uncommon for a seller to feel more qualified and to trust himself or herself to handle negotiations better than an agent. Sellers who know their way around real estate transactions are, in fact, comfortable enough with the sales process and the details of a contract to negotiate effectively. A seller who feels comfortable negotiating directly with his buyer, or his buyer’s agent, can save a minimum of three percent of the sale price by selling on his own.

It could also be that the transaction is a mere formality. This is the case when we sell a new home or when our property is sold as is, without any negotiation. In this case, buyers come forward freely and make an offer, without any expectation of renovations being carried out, or of receiving any form of credit. Sometimes, sellers who sell for a fixed price and are able to disclose all details and provide all documents related to the property have no interest in being represented by an agent.

Sales closer to home

Sometimes, transactions are made between people who know each other well. You can sell to a family member, a good friend or a business partner. Quite often, in a situation where the person selling knows very well to whom they are selling, and where the expectations of both parties are unambiguous, there is no need to call in an agent. Obviously, this type of scenario involves a significant amount of trust between the parties.

Even when seller and buyer know each other well, there are still legal requirements to be met. Adhere to all regulations concerning the declaration of defects and the deadlines required by the City of Montreal. As someone selling their home themselves, the last thing you want is to find yourself in a legal dispute over a property you thought you’d never hear from again. Follow procedures carefully to avoid consequences and legal sanctions.

Are these companies reliable? The question arises...If you’re undecided about whether or not to sell your Montreal property yourself, don’t hesitate to write to us. We can help you decide between selling with an agent and selling directly! Call today! 514-320-1000

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