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 might opt to sell without a real estate agent, avoiding associated costs and commissions linked with open-market listings.
Now is a great time to be a homeowner, and it is a seller’s market. Multiple offers resulting in over-asking prices continue to be the rule rather than the exception. The November Toronto housing report reveals a record-high average price of $1.2 million for a single three-bedroom home. This represents a quarterly increase of 15.3% and a yearly increase of 17.6%.
Despite being a great investment, certain circumstances may prompt homeowners to swiftly sell their house, condo, or cottage.
Why Sell Your Home Without an Agent?
There are several compelling reasons not to 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:
- An agent has years of market experience and will be able to list your home at market value accurately
- An agent has access to listings that the public does not
- An agent is skilled in the negotiations that are required to get a top-dollar offer
- An agent can advise you on the steps involved in finalizing a sale
- An agent can negotiate with other agents and take you through 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 below market value quickly. Selling without an agent offers distinct advantages, with numerous pros to the streamlined cash home-buying process. Some of the key benefits include:
There will be no need to hire a realtor to prepare, list, show, and sell your home. Cash home buyers purchase properties as-is, saving sellers time and expenses on renovations or structural fixes typically associated with selling.
Cash home buyers aim to offer near-market value for your home, covering their incurred costs in the process. 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 house quickly for cash may come as welcome news for some. This offers peace during financial stress when other options aren’t as appealing or feasible.
Whether you use a realtor is also your choice, and it may work if time is not pressing and money is available to pay for all the associated costs of selling on the open market. For more information, contact us using the form below.
