Selling Your West Toronto and Etobicoke House and  

Achieving the Maximum Price Successfully

 Occasionally, one can see "For Sale By Owner" (FSBO) signs, and some owners think that selling their own house will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional. Before you decide to take on this very important and legally complicated process … remember  most Real Estate Lawyers do not recommend selling your own house yourself in today's market in the Toronto West neighbourhood.  Here are a few of the reasons why:

1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take TEN TO FIFTEEN TIMES longer to sell on the market.

2. The LONGER a house is on the market the  LOWER  the selling price is. Why? Because most buyers think that if the house has not sold after a reasonable  time ...  there must be something wrong with the house.

3. The selling/buying process begins AFTER the buyer leaves your house. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor ...  and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own … they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome "BUYER'S REMORSE"  -- a very common occurrence.

4. Because of the limited exposure you will very likely end up with a LOWER  selling price. Remember, in order to generate the highest price possible for your home … selling means exposure. You need the  MAXIMUM  exposure possible, to generate the  HIGHEST  price possible.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.

6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.

7. The majority of  QUALIFIED BUYERS  are working with experienced real estate professionals.

8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.

9. As most local buyers in the Greater Toronto neighbourhood now retain an experienced real estate sales person to represent them as their "BUYER AGENT", you will probably be negotiating against an experienced professional.

10. Expected savings in broker's fees will also be greatly REDUCED  if you offer a selling commission to entice real estate sales representatives to bring potential buyers.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's FEES WILL BE CONSIDERABLY HIGHER.

12. Only real estate sales representatives have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales people. Further, real estate sales representatives are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and SUCCESSFULLY SELLING.

13. You only pay the commission to the real estate broker, if they SUCCESSFULLY SELL  your home at the price you are HAPPY with.

14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually have problems on closing. At times, expecting the Buyers and Sellers Lawyer's to fight it out or resolve the problems, can mean the deal is lost or there is a  COSTLY SETTLEMENT in order to close.   This is the time that your experienced real estate professional, can be the most important. Your Real Estate professional in the West Toronto Neighbourhoods can act as a great mediator. Lawyers MUST act only on their client's instructions and Lawyers are not paid to negotiate.