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Selling house without a realtor

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  • Jun 6th, 2015 1:45 am
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[OP]
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Sep 2, 2010
783 posts
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Mississauga

Selling house without a realtor

Has anyone here sold their house on their own? We're looking to list our home for sale in within the next 2 months and want to sell it privately as we're located in a very desirable neighbourhood where homes tend to sell quickly. My neighbour used a realtor and sold his house in only one day just a few months ago! We are located in Mississauga.

I see a wagjag out for comfree and am thinking about buying one of their packages. I know there is also property guys. Are there any other such websites out there?

Whichever way we go, we will definitely pay the extra $ to put our house on the mls.

Any insight would be appreciated - thanks!
110 replies
Moderator
May 28, 2012
9771 posts
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Saskatoon
You only need one person who wants your house. If you live in a desirable neighbourhood, I don't see a problem with trying to sell the house on your own. You just have to educate yourself about any pitfalls to going this route. A friend of mine advertised her house in the classifieds on a Saturday and sold it that Tuesday. I guess someone was waiting until a house came up on that particular cul-de-sac. This was many years ago, so not sure if it would work in today's market.

Keep in mind that some people shy away from properties for sale by owner, and a lot of the ones that start off as for sale by owner end up being listed with a realtor when there is no interest. If you sell it yourself, you need to do your homework as to how to present your house for sale.
Deal Addict
Oct 30, 2006
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GTA
Issues I see is you will still probably pay the other side 2.5% as a lot of purchasers are selling with an agent. also joe blow who does not have an agent will be hesitant of dealing with a sale by home owner. Another thought is people will think they can save 5% because you are not paying a commission. so in the end you might not save much and have to deal with calls/viewings yourself.

I don't like the 5%(should be less considering the increases in prices), but in the end I figured it saves me headaches and will help me save on the purchase and get a bit more for mine. we r in the middle of this as well.
Deal Addict
Nov 24, 2013
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Kingston, ON
In theory you can save thousands by paying a ~$500+tx MLS listing and offering just buying agent commission. It's also a pain in the ass though. From personal experience, you're fielding a lot of calls from realtors, hosting your own open house (if you do one) and interested parties are less comfortable asking you questions directly as they would be asking your agent.

Using a realtor is a lot of money, but in the end I think you really are getting a service out of it. Whether that service is worth it to you or not is a very personal thing.
[OP]
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Sep 2, 2010
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Mississauga
Our house will sell for at least $800K so 5% on that is $40K. It's really hard to stomach giving up $40K to realtors when the house should sell easily.
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Nov 1, 2014
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Toronto, ON
you can easily find a good/competent realtor willing to sell for 1% or maybe even slightly less..but you will still need to pay the 2.25% to other agent

so you are only saving 0.75%-1% but do all the work yourself..most agents will stage and post on mls with professional photos, feature sheets etc for you.
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Nov 1, 2014
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Buffy905 wrote:
Feb 12th, 2015 3:26 pm
Our house will sell for at least $800K so 5% on that is $40K. It's really hard to stomach giving up $40K to realtors when the house should sell easily.
you aren't going to save 5%...as stated you will still need to pay the buying agent 2.25%... you could save maybe 1% or less for services of a selling agent who will stage/take prof photos/list for you.
[OP]
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Sep 2, 2010
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Mississauga
How many buyers actually use agents though? Last two houses I bought I was never represented by an agent. I always just surf the MLS and if I see an interesting listing i contact the sellers agent.

As was mentioned above, I only need one buyer. My plan is to indicate "no agents please" on the listing and try to avoid paying real estate commission altogether.

Though I have been considering listing for 1% with an agent as I have seen a few offering that commission level.
Deal Fanatic
May 1, 2012
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Markham
Buffy905 wrote:
Feb 12th, 2015 3:32 pm
How many buyers actually use agents though? Last two houses I bought I was never represented by an agent. I always just surf the MLS and if I see an interesting listing i contact the sellers agent.

As was mentioned above, I only need one buyer. My plan is to indicate "no agents please" on the listing and try to avoid paying real estate commission altogether.

Though I have been considering listing for 1% with an agent as I have seen a few offering that commission level.
You would be surprised at how many people actually use agents. Those people who stroll through your home in an open house, most of them aren't serious buyers. Those who employ agents, they are serious buyers.

Think of it this way, as a buyer you don't have to pay any agents. So why don't you insulate yourself by employing a person who will take care of you and your very expensive purchase?

You can try selling your house yourself, many people do that. But a predominant majority of people end up unable to sell their home due to varieties of reasons and employ an agent later on.
[OP]
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Sep 2, 2010
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Anikiri wrote:
Feb 12th, 2015 3:38 pm
You would be surprised at how many people actually use agents. Those people who stroll through your home in an open house, most of them aren't serious buyers. Those who employ agents, they are serious buyers.

Think of it this way, as a buyer you don't have to pay any agents. So why don't you insulate yourself by employing a person who will take care of you and your very expensive purchase?

You can try selling your house yourself, many people do that. But a predominant majority of people end up unable to sell their home due to varieties of reasons and employ an agent later on.
Very true, I think I would give it a month and if no traction then yes bail and just go with an agent - wouldn't want to be stubborn for long but would also feel regret if I just went directly with an agent and didn't try and sell on my own first.
Good point on the open house. I think I could get by without having one and just go by appt only. That should help weed out people who really aren't interested to buy.
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Feb 20, 2008
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Buffy905 wrote:
Feb 12th, 2015 3:09 pm
we're located in a very desirable neighbourhood
Buffy905 wrote:
Feb 12th, 2015 3:09 pm
We are located in Mississauga.
Wat.
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Nov 24, 2013
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Kingston, ON
LandKing wrote:
Feb 12th, 2015 3:29 pm
you aren't going to save 5%...as stated you will still need to pay the buying agent 2.25%... you could save maybe 1% or less for services of a selling agent who will stage/take prof photos/list for you.
Yes, so at $800k, if you offer 2% to the buying agent and find a 1.5% listing agent, you'd save the 1.5% ($12,000) less the costs for you to list it on MLS yourself ($565+). If it's 2.25% to the buying agent and 1.25% or less to the listing agent, you'd be saving even less.

If you do get a buyer with no agent, they're going to ask for a discount for not using an agent anyway. Effectively the ~2% is a foregone conclusion.
Deal Addict
Oct 29, 2010
4189 posts
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Buffy905 wrote:
Feb 12th, 2015 3:32 pm
How many buyers actually use agents though? Last two houses I bought I was never represented by an agent. I always just surf the MLS and if I see an interesting listing i contact the sellers agent.

As was mentioned above, I only need one buyer. My plan is to indicate "no agents please" on the listing and try to avoid paying real estate commission altogether.

Though I have been considering listing for 1% with an agent as I have seen a few offering that commission level.
It's very likely that if you buy without an agent, the agent of the seller will pocket the whole 5%.
So you are going to need to sell without an agent and tell the other side that you won't sell if they have an agent involved.
Jr. Member
Feb 4, 2015
190 posts
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York, ON
Phlegmbot wrote:
Feb 12th, 2015 4:05 pm
Wat.
Port Credit does exist, to be fair.

The problem with FSBO is a lot of Realtors won't even take their clients to see one, regardless of whether there's commission on the table. The cartel knows how to defend itself - they try and stifle the FSBO out of the market.

This could result in a very limited number of prospective buyers - which could tank the value. Ergo, the "lost" $40k commission could be lost anyway by not being able to attract any decent offers - and I say this as someone who is not a huge fan of the Realty industry.
Deal Addict
Jul 3, 2011
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Thornhill
Buffy905 wrote:
Feb 12th, 2015 3:09 pm
Whichever way we go, we will definitely pay the extra $ to put our house on the mls
Buffy905 wrote:
Feb 12th, 2015 3:32 pm
My plan is to indicate "no agents please" on the listing and try to avoid paying real estate commission altogether.
No harm in trying it yourself if you feel able to. FYI, if you choose to have your home listed on MLS you cannot say "no agents" and must offer at least one cent.

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