FACT vs FICTION
In a changing market place like ours, it's normal for homeowners and potential homeowners to have questions. Unfortunately, the answers you may be getting are not always factual. I'm going to do my best to dispel some of the most common real estate myths in simple terms, no crazy realtor jargon, promise.
Fiction: Nobody buys homes in the winter.
Fact: People buy homes when they find the right home and have the need and the motivation. The Oakville, Milton, Burlington Board (OMDREB) saw these numbers this past winter:
Burlington 100 UNITS SOLD
Oakville 157 UNITS SOLD
Milton 110 UNITS SOLD
Burlington 132 UNITS SOLD
Oakville 240 UNITS SOLD
Milton 175 UNITS SOLD
Burlington 153 UNITS SOLD
Oakville 290 UNITS SOLD
Milton 175 UNITS SOLD
Fiction: I will get a better deal if I go, straight to the listing agent.
Fact: The listing agent is working for the sellers, therefore is protecting the sellers interests. I repeat, the sellers interests. It is the listing agents job to achieve the highest sale price for seller. It is unlikely he/she will be able to take off an absurd amount of money because he/she is now representing both of you. Only one of you will be receiving full client care (the seller) not you.
Fiction: I will save thousands and thousands of dollars selling my house privately.
Fact: Less than 10% of homes that go on the market privately actually end up selling without the assistance of a realtor. If a realtor does bring in a buyer, the realtor will probably be asking for at least a 2.5% co-operation fee. Oh and did I mention you are now negotiating with someone who is trained in negotiating which means you may end up selling your home for much less than if you had full representation from a professional realtor. We spend every day in Real Estate, its our full time job which means we are the best qualified persons to represent your biggest lifetime investment. I agree some things in life are great to save money on, however your home is not in that category (neither is deli meat, expired produce or childcare).
Fiction: Once I’m on MLS everyone will see my property.
Fact: The MLS system is typically hours behind our realtor systems. There are actually different boards that realtors pay to be a part of and we pay a fee to have your home displayed on these boards. For example: if you are selling a home in Oakville, many Toronto and Burlington realtors would not have immediate access to it unless they are members to all three boards RAHB, OMDREB and TREB. Your realtor needs to fill out extra data input sheets and send this information to the boards. As an informed consumer, YOU should always ask and expect the maximum exposure for your home. Relying on just the MLS system alone is not an efficient way to sell in today's market.
It's true that we are in a bit of an information overload era with immediate access to what we think are the answers to life. I just wouldn't want to see you make decisions about your home and family based on what you think you know. Choose a realtor you can trust and you are comfortable with (intuition is a great thing). Ask questions, lots of questions then ask more questions. Avoid the sign here, sign there approach and take the time to read and understand the documents and the process.