What are your options when selling your home – Part 2
In Part 2 of this two-part series we are examining your options when selling a property. In Part 1, we looked at selling with a broker. In Part 2, we look at the option of doing it yourself or For-Sale-by-Owner (FSBO)
For-Sale-By-Owner or FSBO is the situation where a homeowner sells a property on their own. With free access to real estate information available online and the popularity of some FSBO platforms that help home sellers navigate through the process, FSBO as a method has become a very popular option for those looking to avoid sky-high brokerage fees by doing it themselves.
Selling a property without a broker
Can you sell a property on your own without a broker? Yes, of course you can. But if you haven’t sold a property on your own before, you’re going to want to take some time to learn a few things before you set off, and you must be prepared to handle every aspect of the transaction on your own, including the legalities of the a property sale. There’s more to selling a property than you might think, and if you’re not prepared for it, the headaches and stress can be overwhelming.
If you’ve done this before or you have the time and are willing to put in the effort, FSBO is a great alternative.
Quebec’s largest and most successful FSBO platform offering “broker-less” real estate services is DuProprio.com. For an upfront fee, DuProprio.com will provide you with a listing (again, not on Centris/MLS), photography, signage, and “coaching” services (remember, these coaches are unlicensed and unaccountable for any advice or guidance they give).
DuProprio has successfully created a very viable alternative to using a percentage-of-sale broker and they have done more to revolutionize the real estate industry in Quebec than anyone else so far.
Help center or not, it’s still do-it-yourself
You are answering your phone at all hours of the day, weeding out the tire-kickers, window-shoppers, and nosey neighbours. You are opening and showing your house to strangers (lots of weirdos out there). You are negotiating back and forth with potential buyers. You are handing the legal documents with the declarations and signatures and initials by yourself. It’s all You.
To top it all off, there is no guarantee your buyer won’t show up with a broker who will demand a percentage to close the deal. You’ll have to negotiate that. Do your research. Broker involvement in a FSBO transaction is not uncommon.
Yes, you can call their help centre and speak with their customer service representatives, coaches, notaries, and so on. But ask anyone who has tried it and they’ll tell you it’s not easy, even with all their help.
If there is this much hassle, why are people choosing FSBO?
It’s pretty clear that the reason FSBO is popular is not because it’s their best option, but because traditional brokerage is just too expensive.
Fortunately, as we mentioned in Part 1, there are “fixed-rate” brokerage options popping up all over the world (including FIXE.IMMO here in Quebec – that’s us!) which provide the best of both worlds, a broker, and the ability to save a ton of money in fees.
So which home selling option is best for me?
If you are comfortable with stepping into the unknown and trying to sell on your own, go ahead. The cost is substantially less than using a broker.
But you finally have before you an alternative that provides all the services of a licensed professional broker, and jaw-dropping savings compared to traditional brokerage fees.
The best of both worlds awaits at FIXE.IMMO