Buying or selling a home through a private sale can save both sides a lot of money, but industry insiders warn there are significant risks to closing a deal without the help of a professional.For most people, the buying and selling of any property involves a Realtor or another agent. But there are those who go it alone — and ways to get help. David McDonald says buying his first home in the latter half of 2021 was stressful — though maybe not for the usual reasons.
He closed the deal without his Realtor, which McDonald estimates saved both sides roughly $15,000 in commissions. He says private sales might be particularly beneficial to people now, in light of inflation, a slowing housing market and steep interest rates. They just might not know where to look. CREA represents more than 160,000 licensed brokers, agents and salespeople through over 65 boards and associations in the country. Only its members are allowed to use the trademarked word "Realtor" in Canada and are subject to a "high standard of professional service and a strict code of ethics" according to its website. It declined to be interviewed for this story.
"There's a couple of people that are not winning," with private sales, he said. "I don't need to say who they are. Lawyers are largely reliant on what clients present, MacAulay says, meaning it's up to clients to make sure they've done their due diligence. She says good real estate agents can make the process easier for their clients by helping them net more when they sell and conducting thorough research on properties they want to buy.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: blogTO - 🏆 44. / 63 Read more »
Source: CBCNews - 🏆 2. / 99 Read more »
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »
Source: timescolonist - 🏆 15. / 75 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »