Planning to sell your home? Wondering if you should use a realtor? In this episode of homebuyer's school we look at the positives and negatives of selling your home with and without a real estate agent. If you are planning to sell your home without a realtor then watch our previous video on "How to sell your home without a realtor?"
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Hi, everyone and welcome to another episode of Homebuyer's School.
Today I'm joined by Kevin French with Remax Realty , and the question we're going to answer is:
Pros and cons of selling my home with the realtor and without a realtor
Now Kevin, you probably can give us a lot of pros on why you should sell with the realtor, but can you also give us the cons of that as well?
So, let's start with pros and cons of selling my home [00:00:30] without a realtor. So let's go with the pros first.
Pros of selling your home without a realtor
Okay. Pros with selling without, you save money.
There's an opportunity to not pay the listing agent or maybe in some cases even the buyer's agent any commission and your purchase is, selling the property on your own, saving a significant amount of money.
Karl Yeh: How about the cons?
Cons of selling your home without a realtor
Kevin French: Cons.
You're losing a significant amount of money.
If the property's not appropriately marketed or priced, there's a good chance that [00:01:00] money can be left on the table.
So I've had friends of friends tell me in the past like, "My property was on the market for six months. We did two price reductions, and at the end though, we got a great price. We got exactly what we wanted."
Well, relative to what metrics? Like what are you comparing this to? How do you know that this is the best price that you could have gotten for the property.
Could you have listed it for a higher price and done these 10 things that your real estate agent would have recommended ...
Karl Yeh: Oh, okay.
Kevin French: ... and sold it a lot sooner for more money?
So you're saying, let's say, if I sold a home for [00:01:30] say, $500,000 and I bought it for $400, I could be congratulating myself, but I could have sold it say, for $600 or maybe $550 or even more, whatever that price it.
The funny thing is, is that if you don't know the entire market, then a gain is great. There's everything positive, you're making money. But, if it could have been more money, and you would never know that, I guess, then you're gonna ...
Karl Yeh: Yeah.
Kevin French: You'll be happy, [00:02:00] but in reality, you should have ...
Karl Yeh: You could be kicking yourself.
Kevin French: ... at least contacted somebody, yeah.
Let's go to the other one.
So, pros and cons of selling my home with a realtor
So let's start with the pros first.
What are the pros of selling a home with a realtor?
Sell your home sooner. Sell your home for money. Those are the number two, the first two, right?
Karl Yeh: Two reasons.
Your property is going to be appropriately marketed. It's going to be showcased to as many possible people that are in the market, and then you're going to have someone negotiating on your behalf when the offer does come in, [00:02:30] yeah.
What are the cons of selling a home with a realtor?
Karl Yeh: And what are some of the cons?
The cost. It's significant. There's no doubt about it, but if you're working with the appropriate agent, then it's worth it.
A con would be not asking the right questions and not figuring out who you're working with prior to listing your home.
If you're listing with somebody because their your cousin's friend's sister or whatever it may be, that's not the reason to trust them with probably your biggest asset in your entire life.
You should be asking the right questions to the right agents, and then going from there [00:03:00] and choosing the right person, so your property's going to yield the highest profits.
So, it's not just about going with a realtor, but it's going with the right realtor, right?
Kevin French: Absolutely.
Karl Yeh: Right.
Kevin French: Yeah.
Karl Yeh: Okay. Perfect. Anything else to add?
Kevin French: No.
Awesome. Well, that's our show for today. Thank you very much for joining us and we'll catch you next time.
Let us know if you have additional homebuying questions that we can answer by submitting them in the comment section below.
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About Kevin French:
Kevin French is a Calgary and area based realtor with a client focus. He specializes in a stress free home selling process that is built on customer service. Understanding that your home is one of your largest investments, Kevin employs a marketing mix that ensures you will maximize returns on your home sale. Diligent market research coupled with an in-depth understanding of the Calgary and area markets, allows Kevin to pinpoint the perfect price for your home.
In addition to perfect pricing, Kevin offers a suite of additional services such as professional photography and an interior designer to ensure your home shows its best. Kevin French has become a trusted name in real estate because he is results driven and works closely with his clients to produce the best results.