By Claire C. Sykora
When it’s time to sell your home, you have a number of options including a private sale, with or without the use of a company such as Property Guys, or employing a licenced realtor.
“Homeowners are typically trying to save some money with a private sale,” says Claire Sykora, real estate lawyer with Burchell MacDougall’s Halifax office, “They think they can do everything on their own, but may be underestimating the role of a realtor or company designed to assist with private sales.”
Selling your home privately is a time-consuming endeavour. It requires taking on all the things that an agent would normally do for you. From researching the value of your home, advertising, showings and open houses to negotiating offers, you are on your own.
“Your time is the main concern,” Claire explains. “Some people are go-getters and enjoy the process, but you need to ask yourself if you want to spend all your free time, potentially for the next several months, showing your home to prospective buyers.”
A private sale is also not for the faint of heart; “You need a thick skin so as to not take any criticism of your home personally, and your emotional attachment to your home can make that difficult at times. Using a realtor will filter that for you.”
A company such as Property Guys can help you with valuating your home and offer advice on upgrades and staging, but showings are still the responsibility of the seller.
When you hire a realtor, you pass everything over to a professional. They know the ins and outs of your market and have experience that should make the process painless for their client; their goal is to get you the best price for your home.
“They do more than people realize, and are worth the added expense for many sellers,” she says. “Using an agent may also widen the pool of prospective buyers, as realtors may be reluctant to show a house that is privately listed to their clients.”
While Claire usually sees private sellers only when it’s time to formalize the deal, she recommends calling a lawyer before you get started; “If you’re considering a private sale, a real estate lawyer will be able to fill you in on everything that’s involved, and will be able to tell you if it’s the right route for you before you get too far into the process.”
This article is for information only and is not intended to be legal advice. If you have any questions or would like further information, you should consult a lawyer.