How to cut real estate fees when selling your home : Toronto Star
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Quote:
Originally posted by AshwaniG
Hiring a GOOD RE that has brilliant negotiation skills and know basics of home staging can result in fetching you far better price than expected . Not only his fees is paid from this EXTRA money but you also end up putting more money in pocket .
Dealing with street walkers and prospective buyer barging in house ANYTIME is a part of the packet when you sell it yourself .
I personally prefer to have a record of every person walking in my house which is possible only when appointments are made thru RE agent .
IF your agent is indeed doing NOTHING than may be its time to change your agent .
A good Realtor and a good Lawyer are the best oxymoron I have ever come across. They simply don't exist. I am yet to come across any in my 8 years of existence in Canada.
Quote:
still too much
so a 500K home owner has to pay $ 28250.00 for the deal
28 thousand CAD to real-state agent ?
some folks do labour / tim Horton jobs probably can't even save that much money in 1 year
Heck they will even sell your house for $ 490,000 for a quick and easy sale in 1 day as their commission only gets reduced by only 2.5 % of the $ 10,000 which is only $ 250 less in commission for them , but its a loss of $ 10,000 for you as now your house is sold for
$ 490,000 for quick and easy sale & not for $ 500,000 !
Quote:
A good Realtor and a good Lawyer are the best oxymoron I have ever come across. They simply don't exist. I am yet to come across any in my 8 years of existence in Canada.
RE agents are a dime a dozen in Canada. After their commissions etc, you almost never come out ahead with them, as when you sell on your own. Most of the times you come out on the lower end.
They have created a Cartel & secrecy & hard to access info on MLS just to scare customers & prevent them from selling on their own. But their monopoly & tactics are being broken day by day due to the internet, and they are running scared !
Just 5-10 yrs from now, we will have a totally different house selling & buying process in Canada, as people are getting sick & tired of these fools for the very little they do & offer for the exorbitant prices they charge.
Quote:
Originally posted by mcg7
I am not going to pay that much amount to any realtor
I will prefer to sell home myself if I have to change home--I saw few add in my neighbourhood...people privately selling homes.
I think even in this case we have to pay some amount to lawyer & some $$ to private co who helps putting add in yard/do paper work.
any idea/experience how much expenses if U sell home(worth 500K) privately ?
You just download all the standard RE forms online for FREE.
You can just clean your house, make it clutter free, stage it yourself. You do this anyways, even when you sell it through a RE agent, he doesn't do it for you ! And if he does, he charges you for it !
And advertise on various sites like Kijiji etc for Free. Some For Sale By Owner ( FSBO ) sites like Com Free etc will also have cheap standard packages for only $ 999 , where you can advertise on their site and they also help with RE lawyers etc.
The RE lawyer fee will be only about $ 1,500 to close the deal.
The buyer can get his own lawyer if he wants and his own home inspector if he wants, he pays for that not you. Your lawyer and his lawyer both look at the deal and close it. The only thing missing is the middleman, your RE agent and his RE agent , to take the cut .
5 things a RE agent won't tell you :
http://t.thestar.com/#/article/business/personal_finance/2013/05/12/five_things_a_real_estate_agent_wont_tell_you.html
http://t.thestar.com/#/article/business/personal_finance/2013/05/12/five_things_a_real_estate_agent_wont_tell_you.html
I was right about the Open house thing. I went to an Open house , the selling agent was more interested in getting new " Bakras " from the people who had come to see the Open house. He was busy handing out his business cards and trying to get more clientele, and was spending less time in actually selling the house he had an open house for ..lol.
I have heard of 1% Realty and they are so, so. But the houses do get sold through them. They are slowly getting their exposure.
When we buy a house, old ones that is, you already paid 5% more, because the seller adds up the commission to his base price. So, it will take five good years before you recover from this blow.
Now there are a group of LAWYERS who will do the transfers for a fee of $690. A search is well worth it.
FH,
HRH LMC
Location: God's own country
Posted on: 03-09-15 09:13:13
MLS was having monoploy in which they do a lot of house selling and that they will have data on the price for which the meighbouring house was sold.
So for example, MLS used to say that if your neighbour sold the house for $ 419K, this information will be very useful to determine your house price.
Is there a way in which we can find this out or it canot be found out?
Recently in the beeches (Toronto start article dated yesterday 02 Aug), a dilapilated house (not worth living in) was sold for a cool 1 million (some 100K above the listed price). people were aghast as the listing broker had clearly mentioned that it was unlivable, enter at your own risk and to bring a flashlight to see the interiors as hydro was cut off. With this kind of market, it looks like you can sell any house for much above the asking price.
Say for example, your house is worth $ 400 K, Put an Advt for 600K. May be no one will come. After 2 weeks reduce it to $ 570K and see how it goes. If property market is hot, you need not even stage the house. This is a method to bypass the realtor who charges too much and as well as to get the best price for your house.
Murali
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I am a Gents and not a Ladies.
