Home sales via brokers - useful or not?

Home sales via brokers - useful or not?

It's quite convenient to handle a home sale through a broker. He takes on a lot of tasks, but there are also costs.

The few sell a house every day. Therefore, most sellers lack the necessary experience with such businesses. That is also the reason why most real estate is sold through a broker. However, it makes sense to carefully weigh the pros and cons of a broker.

Make the Home Sale

In principle, it is possible to sell the property yourself. It does not matter whether it is a single-family home or a condominium. Important is a good preparation. The hardest part is finding a realistic selling price. Often, this is roughly estimated by the owner and is far from any reality. In such a case, a neutral reviewer is a great help. Although this calculates a fee for the valuation, but there is a fixed selling price, which is not too low and can actually be achieved. Another difficulty is negotiating with a potential buyer.

The homeowner must be able to credibly convey to the prospect all the pros and cons of the property in question. Interested parties, of course, would like to visit the house in detail. Therefore, the owner should plan enough time. If there is little free time available, this can quickly lead to a major nervous burden.

Selling a property through a broker

It is much more relaxed to handle the sale of a home through a broker. The homeowner only has to hire a broker to take care of everything else. The broker advertises in newspapers and online portals and makes contact with interested parties. He takes care of the necessary formalities and organizes visits to the property. This saves the homeowner a lot of time and spares his nerves.

The catch is that the broker calculates a commission, which in this case is called brokerage. Therefore, it is recommended to set up a brokerage contract. It is agreed in the brokerage contract who will pay the brokerage fee. This can be the buyer, the seller or both parties. However, especially in conurbations with a tense real estate market, it is common for the buyer to bear the costs and the seller does not have to pay anything. That could change in the future. For example, the federal government is planning a law that stipulates that the principal must always pay the broker's brokerage.

Another problem that arises from selling a property through a broker is that the seller no longer has control about his house has. The broker has the right to visit the property at any time with prospective buyers. For this he needs no special consent of the owner. This aspect should not be underestimated, especially in the case of consumer real estate. If the seller himself finds a prospect, he can not sell the house without the broker's consent. This point should also be considered.

Which is the best solution?

The best solution to sell a property depends on the circumstances. If the owner has experience in this area, he can carry out the sale himself. For inexperienced homeowners who can afford little time, it makes more sense to hire a real estate agent.

Video: Real estate agents breaking the rules: Hidden camera investigation (CBC Marketplace|