Selling a House without a Realtor in Ontario

How Do I Sell a House Without a Realtor?

There seems to be no end in sight when it comes to the continued escalation of the property market across Ontario. For all of 2020 and as we close the fourth financial quarter of 2021, housing prices in both large and small urban centers and those in outlying regions in the province continue to reach skyward.

They may also choose to do this without hiring the services and associated costs and commissions that come with hiring a real estate agent to sell their property on the open market.

Now is a great time to be a homeowner and it is a sellers’ market. Multiple offers resulting in over asking prices continue to be the rule rather than the exception. According to the November Toronto housing report, the average price of a single three-bedroom home has hit an all-time high of $1.2 million. This represents a quarterly increase of 15.3% and a yearly increase of 17.6%.

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With quick and friendly service, we are always happy to offer free advice. Whether you are serious about selling or just curious, we can explain your options and what to expect.

Although owning a home represents a great investment, some circumstances may come into play that forces a current homeowner to have to sell their house, condominium, or cottage quickly.

Why sell your home without an agent?

There are several compelling reasons to not use a real estate agent to sell your house fast. Sometimes, the pressure is also there to sell sooner rather than later. Some top incentives for passing the services of a realtor can include:

  • Avoiding the time it takes to get your home ready to be on the market- It is a difficult process to take a home from “a lived-in feel” to that of the look of a show home. There may even be a necessity to hire a stager to show off your home to buyers in the best possible light.
  • Avoiding the costs of renovation and fixes- An agent may tell you that he/she may not be able to list your home until certain renovations are made to your property to be competitive and create a modern appeal. An agent may also be adamant that you take care of any outstanding fixes to your property that may hinder getting top dollar offers on your property.
  • Avoiding sales commissions- Once you do have an attractive offer on your home and choose to take that offer, your agent will be charging you a commission (usually around 2% of the final sale price).
  • Avoiding the time it takes to get your home ready for individual showings– Every time that a realtor brings in a new interested buyer, a homeowner will have to ensure that the property is pristine and ready to be shown. This is a time-consuming and often tedious process.

The downside to selling your home without an agent

Every coin has another side and the flipside to not using an agent can come with a potential downside:

  1. An agent has years of market experience and will be able to list your home at market value accurately
  2. An agent has access to listings that the public does not
  3. An agent is skilled in the negotiations that are required to get a top dollar offer
  4. An agent can advise you on the steps involved in finalizing a sale
  5. An agent can negotiate with other agents and take you through to signing all the necessary documents with needed advice

What are the advantages of utilizing a cash homebuyer?

If using an agent is out of the question and time is of the essence, there exist well-established cash home buyers throughout the province who can sell your home at near market value quickly. Being able to sell without a middle role such as an agent has distinct advantages and there are several pros to the cash home buying process. Some of the key advantages include:

There will be no need to hire a realtor to prepare, list, show, and sell your home

A cash home buyer will buy your property in the current condition it is in, therefore eliminating the time and expense of putting in renovations or fixing up any structural issues concerning the property

A cash home buyer will try to give you as close to market value on your home as they can while still being able to cover the costs that they incur.

You will avoid any legal action by your lender and/or have the means to cover outstanding legal debts.

The decision to sell your home is a personal one. It is also very much dictated by current and pressing financial circumstances. Knowing that the option to sell your home quickly for cash may come as welcome news for some. This will bring peace of mind when finances may be causing considerable stress and the other options may not be as attractive an option or even feasible. 

Have More Questions?

As Cash House Buyers ourselves, we can directly answer any questions you may have about the process. Since everyone’s situation is a bit different, we can look at your unique circumstances and give concise and actionable advice.

Whether you choose to use a realtor is also your choice and may work if time is not pressing and money is available to pay for all the associated costs of selling on the open market.

About Jonathan Alphonso

Mortgage Agent, Web Developer, and Real Estate Investor. Together with Ronald Alphonso I run MortgageBrokerStore.com. I write about a variety of topics on Canadian mortgages and real estate. Our particular specialty is dealing with Ontario power of sale and foreclosure situations.

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