I live and work in Mississauga—and I travel throughout this wonderful city everyday— and I do see For Sale by Owner signs on some properties. I find their popularity comes in waves. (A ruling in October of 2010 by the Competition Bureau opened up the Multiple Listing Service (MLS) to the public. This made one of the prime venues for advertising homes available to private sellers.)
I frequently have appointments with potential clients who are trying to sell their homes privately, without any luck.
I recall one couple who contacted me last week. They had put their Mississauga home up for sale just as the spring market in Mississauga was heating up. They had a plan in their mind; they would save on commissions and use that money toward the purchase of their new home. (Most full service real estate commissions by most Mississauga real estate agents average between 4 and 5 per cent of the home selling cost. In other words, for a $300,000 home, the fee could range between $12,000 and $15,000; for a $500,000 home, the fee would be $20,000 to $25,000.)
When they came to see me, their home had been on the market for six weeks. They had had many fewer viewings then they had anticipated; even the first week their property was for sale was slow. Some potential buyers hadn’t even shown up for their viewings, even though they had changed their own schedules to accommodate them. Their two open houses were flops. And the feedback from Mississauga real estate agents hadn’t been positive. The only one positive discussion that they had with one agent went nowhere; no offer was forthcoming.
They were frustrated on many fronts.
I took the time to sit with them and explain what hiring a proven Mississauga real estate agent can do for them.
Pricing: Qualified professional real estate agents will understand how to price your home properly. This is crucial.
Marketing: Real estate agents are familiar and experienced in marketing homes to sell quickly. Whether it is on-line, in magazines, in newspapers, or by flyers, marketing a home properly is very important.
Showings: Having a team of administrators means your showings are efficiently booked and organized by your real estate agent.
Negotiations: Working through a real estate deal is challenging and takes a lot of skill. There are many nuances that require attention and understanding. The difference between a good deal and a bad deal can mean thousands of dollars. (Furthermore, some buyers do intentionally try to take advantage of sellers who aren’t using agents, i.e. they negotiate more aggressively.) Hiring a good real estate agent with a proven track record can means thousands in your pocket.
Stagers, lawyers, and more: Hiring an agent means you also have a team of individuals available to help you through the entire process.
As the couple realized on their own and as my conversation to them explained, having a reputable and proven Mississauga real estate does make a difference. For more information on what a good Mississauga real estate can do for you, please contact me at 905-502-1500.