Listing my own property? (Flat Fee MLS Listing?)

JIB9022 wrote: ↑ Hi,

I'm trying to sell my condo in Toronto Downtown; I just don't think the servies offered by realtors are worth 20-30k.

I would like to list my own property on MLS. Can anyone recommend flat fee MLS listing agency?

Thank you in advance!

JIB9022 wrote: ↑ Hi,

I'm trying to sell my condo in Toronto Downtown; I just don't think the servies offered by realtors are worth 20-30k.

I would like to list my own property on MLS. Can anyone recommend flat fee MLS listing agency?

Thank you in advance!

oasis100 wrote: ↑ The problem with your thinking is that all sold prices you see factor in the cost of commission for the Seller.
The prices you see don't get achieved without agents being involved. that is just a fact 99% of the time. You are going to have to pay 2.5% regardless unless a buyer called you directly. Even if a buyer called you directly, they are going to want the savings you are getting for not paying coop and listing fee. So are you really further ahead?
Condo market is slow right now.
Good luck.

trebmember wrote: ↑ It's a common misconception that a seller needs to pay a percentage of the selling price as the commission to realtors (both listing and co-op). You can negotiate a flat fee if you choose. If you are looking to sell it yourself you can try Purplebricks

JIB9022 wrote: ↑ Thanks for the advice, I do not mind paying buying agent;

I just dont think selling agent's effort is worth getting 1%, which will be like $9000, which is normally people's two months of pay for mere 1 hour of work max

oasis100 wrote: ↑ You are going to have to pay 2.5% regardless unless a buyer called you directly.

JIB9022 wrote: ↑ Thanks for the advice, I do not mind paying buying agent;

I just dont think selling agent's effort is worth getting 1%, which will be like $9000, which is normally people's two months of pay for mere 1 hour of work max

mjkrealty wrote: ↑ Well there will be no changing your mind if you think the cleaning, staging, listing, photos, ad creating, marketing materials, dealing with showing appointments, negotiating, etc all happens without a cost and is 1 hour of work max.

JIB9022 wrote: ↑ I get what you are saying however,
How many realtors really do all the things you mentioned? pretty much all ask for extra fee

INAMAZON wrote: ↑ I did this thru purplebricks last yr, ended up changing my mind last second about the sale, but was able to find a buyer in a month or so. also listed some kijiji ads my self.

I think this is the way to go assuming you have a new-ish condo in hot market. I truly don't believe sellers agent are worth what they charge in such cases.

I'm just about to re-list and looks like purplebricks removed their $800 mls only option, and only offer $3k 'negotiation service' package so I'm looking for other mls options, i'll let you know how it goes

RichmondCA wrote: ↑ Hey OP, I totally get the desire to want to do this, we all have to learn one way or another. Personally I think listing yourself is an acceptable strategy in a hot market (less could go wrong as an unrepresented seller), I don't think it's wise in a tough market (condos)...ask me how I know before becoming a Realtor lol

That being said, expect to sit on the market for a while, you will second guess yourself a lot, and it will be very difficult to remove emotion when you are dealing directly with the person(s) making you the offer (which will chip away at you and your patience). It's a good experience and I recommend everyone try it at least once hope it works out for you.

I think www.propertyguys.com still does this.

F22Raptor wrote: ↑ A couple of options to consider can be found at the following websites.

https://therealtycommission.com

https://www.fsbo.ca

Keep in mind that a number of purchasers have arrangements with their agents to receive 1% cash back from the commission. Some of the buyer's agents may steer their clients away from the property. I almost wish that the real estate board could propose a sliding scale re: commissions. For example 5% on the first $500,000, 2.5% on the next $500,000 and 1.5% on anything over $1M.