If you’re looking to sell your house or investment property in Greater Toronto Area (GTA) without using a real estate agent, we can help.
Although we do cooperate with brokers, sometimes it’s best to avoid paying someone to be in the middle.
After all, paying 5-6% of the sale of a property in a commission is a lot of money. In certain situations, ON brokers and real estate agents can be very useful and earn their commission. Not always.
How Do I Sell My House Without An Agent in Greater Toronto Area (GTA)?
There are a few ways to avoid paying high commissions in your ON sale.
First, there’s a tricky custom that you’ve gotta know about.
In most sales in Greater Toronto Area (GTA), roughly half of the commission you pay as the seller goes to pay for the buyer’s broker.
Doesn’t make much sense, right?
Why should you pay for the agent on the other side of the table?
Truthfully, it defies logic – it’s just what’s typically done.
You can use that to your advantage in a few ways.
First, factor in the commissions paid when you’re looking at the comparable sales. If the properties similar to yours sold for prices that included commissions, take that into account.
Don’t underprice your property – be aware that a savvy buyer may expect to take a discount too. If you’re doing the work of one agent, you can expect to save that money.
Sometimes in Greater Toronto Area (GTA), buyers who aren’t represented by an agent won’t remember to negotiate the buyer’s side commission out of the price for themselves, so don’t remind them if you don’t want to pay them. Just don’t be surprised if it comes up during the negotiation.
You might wish to think about giving buyer’s agents who bring their clients to see your property a 2.5% commission. It’s a lot of money, no doubt. If you price your property with that commission included, you can always work out a better offer for a buyer who approaches you directly.
On the other hand, if you don’t leave room for the buyer’s agent’s commission, you’ll be excluding most of the buyers in the market in Greater Toronto Area (GTA).
Over 90% of transactions happen through the MLS – that’s the Multiple Listing Service. It’s the main database that all the brokers in Greater Toronto Area (GTA) use to access information for their clients on the houses, condos, land and investment properties for sale, along with data on the sold prices.
Once upon a time, you had to pay a full commission to get your property on the MLS. Now in Greater Toronto Area (GTA), there are a few brokers who will charge you a fee just to list your property on the MLS. Often, you spend a few hundred bucks and you only pay a commission if the sale closes.
Compared to the cost of a newspaper ad, the MLS is a cheap way to market your property to a very wide audience.
All the major real estate search sites like Realtor.ca, exclusivehomesforsale.ca, distresshomesforsale.ca etc. get data from the MLS. Chances are good that when you submit your listing in Greater Toronto Area (GTA) to the MLS, information on your property will end up on most of the major sites within a few days.
All of those websites are ad-sellers. They provide packages that allow you to pay to showcase your listing at the top of the search, enhance it, and add a lot of other bells and whistles that may or may not entice a buyer to purchase your property.
Many free websites allow you to publish information, and putting up flyers and signs in your neighbourhood can lead to some calls. Yet, if your home doesn’t appeal to the average home buyer, sometimes posting fliers and hosting an open house aren’t enough to attract buyers.
Real estate brokers are supposed to demand high charges since it costs them a lot of money up front to market your home. They anticipate receiving more phone calls by simultaneously promoting many properties, and selling many homes will clearly result in good profits.
Before the ideal buyer sees the ad and calls, certain properties may require thousands of dollars in advertising costs.
Advertising is a gamble. Sometimes open houses in Greater Toronto Area (GTA) ON can be a great way to sell a property, and sometimes they’re a waste of time. Same with newspaper ads, craigslist postings, fancy signs – sometimes they work, and sometimes they don’t.
To effectively sell your property on your own, you have to market it well.
Putting up fliers and signs around your neighborhood can generate some calls, and there’s a lot of free websites where you can p
There are several free websites where you may publish information. Placing flyers and signs around your neighbourhood can bring in some calls. Nevertheless, if your home doesn’t appeal to the ordinary home buyer, it’s frequently insufficient to simply post fliers and host an open house.
Theoretically, real estate brokers demand high commissions since it costs them a lot of money up front to market your home. They want to generate more calls by simultaneously promoting many properties, and it goes without saying that selling many homes will result in big profits.
Thousands of dollars in advertising costs may be necessary for some homes before the ideal buyer occurs to view the ad and contact.
ost information. But often just putting up flyers and an open house isn’t enough if your house doesn’t appeal to the average home buyer.
In theory, real estate agents charge big commissions because they have to spend a lot of money up front to advertise your property. By advertising lots of properties at once, they expect to get more phone calls – and obviously, they’ll make good profits by selling lots of houses.
Certain properties might require thousands of dollars in advertising expenses before the right buyer happens to see the ad and call.
If you want to avoid paying any commissions, you can also sell your house to investors like us for CASH
We fair prices for properties – and we can close fast (in as little as 3-5 days if you need to).
Sometimes we’ll purchase Greater Toronto Area (GTA) houses, fix them up, then rent them out… sometimes we’ll fix them up and sell them to other people looking for great homes in the area, and a lot of other reasons, too – but we love to hear from people like you who are thinking of selling anywhere in ON.
We’re investors who care a lot about Greater Toronto Area (GTA).
We close fast and pay cash in as little as just 3-5 days. Give us a call now at (647) 274 7572 or fill out the short form over here.