Hi Jenny, it depends a lot on local real estate market conditions but it is still very effective. Selling a home successfully requires that the property be exposed to a reasonable pool of qualified buyers within a desired time frame.
REALTORS®, MLS® and REALTOR.ca help provide access to this reasonable pool of qualified buyers. Historically, getting this exposure has been the main obstacle to selling on your own but not anymore.
Now with a flat-fee “mere posting” for example, your property would be added to the MLS® system via TREB (the Toronto Real Estate Board or other partner) and is automatically syndicated on to REALTOR.ca (formerly MLS.ca with millions of visitors per/mo). Your listing may also appear on ICX.ca and affiliate IDX® sites, mobile sites and the REALTOR.ca smart phone app. REALTOR.ca listings go under your own address/city/province on map and search results and buyers and/or REALTORS® contact you directly.
Yes, some REALTORS® may defer or dissuade buyers (singed up under a buyers agency with them) from showing your FSBO listing altogether… a disservice to the buyer in our minds who might find your home to be a perfect fit and regret signing with the agent to buy in the first place.
Other REALTORS®, however, will see the opportunity to help their client’s and be paid for their services and may ask if you’d be willing to sign a fee agreement co-operating with them in the sale of your home to their client for a negotiated fee maybe 2.5%.
You do not have to work with REALTORS®, many buyers will find your property by themselves on REALTOR.ca. But if you decide you want to work with local REALTORS® in selling your property you should be willing to pay them a fair fee for their work. That fee is to be negotiated directly between the seller and the REALTOR® that has brought an acceptable offer.
To explain the difference in hiring a REALTOR® to sell your home and advertising on REALTOR.ca as FSBO we need to look at their own industry definitions:
A REALTOR® is a licensed real estate professional who is a member of The Canadian Real Estate Association (CREA), and as such subscribes to a high standard of professional service and a strict Code of Ethics.
MLS® refers to a standard or quality of service provided by REALTOR® members of CREA in conjunction with real estate Boards’ co-operative listing systems.
When you hire a full service REALTOR you gain access to their professional to professional network, their expertise and assistant in selling and in return you pay a commission.
When you advertise on REALTOR.ca with a “mere posting” you are selling on your own still as a FSBO, you will handle everything yourself and in return you will save the commission.
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Admin
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Sep 17, 2014
Hi Jenny, it depends a lot on local real estate market conditions but it is still very effective. Selling a home successfully requires that the property be exposed to a reasonable pool of qualified buyers within a desired time frame.
REALTORS®, MLS® and REALTOR.ca help provide access to this reasonable pool of qualified buyers. Historically, getting this exposure has been the main obstacle to selling on your own but not anymore.
Now with a flat-fee “mere posting” for example, your property would be added to the MLS® system via TREB (the Toronto Real Estate Board or other partner) and is automatically syndicated on to REALTOR.ca (formerly MLS.ca with millions of visitors per/mo). Your listing may also appear on ICX.ca and affiliate IDX® sites, mobile sites and the REALTOR.ca smart phone app. REALTOR.ca listings go under your own address/city/province on map and search results and buyers and/or REALTORS® contact you directly.
Yes, some REALTORS® may defer or dissuade buyers (singed up under a buyers agency with them) from showing your FSBO listing altogether… a disservice to the buyer in our minds who might find your home to be a perfect fit and regret signing with the agent to buy in the first place.
Other REALTORS®, however, will see the opportunity to help their client’s and be paid for their services and may ask if you’d be willing to sign a fee agreement co-operating with them in the sale of your home to their client for a negotiated fee maybe 2.5%.
You do not have to work with REALTORS®, many buyers will find your property by themselves on REALTOR.ca. But if you decide you want to work with local REALTORS® in selling your property you should be willing to pay them a fair fee for their work. That fee is to be negotiated directly between the seller and the REALTOR® that has brought an acceptable offer.
To explain the difference in hiring a REALTOR® to sell your home and advertising on REALTOR.ca as FSBO we need to look at their own industry definitions:
A REALTOR® is a licensed real estate professional who is a member of The Canadian Real Estate Association (CREA), and as such subscribes to a high standard of professional service and a strict Code of Ethics.
MLS® refers to a standard or quality of service provided by REALTOR® members of CREA in conjunction with real estate Boards’ co-operative listing systems.
When you hire a full service REALTOR you gain access to their professional to professional network, their expertise and assistant in selling and in return you pay a commission.
When you advertise on REALTOR.ca with a “mere posting” you are selling on your own still as a FSBO, you will handle everything yourself and in return you will save the commission.