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The Pro's & Con's of Selling Privately
Greater Hamilton's Online Real Estate Magazine
For Sale By Owner
(FSBOs)
To the best of our knowledge, this is the only website in Ontario that provides access to all the local private sale companies in one place.
Even though you save money on agent's commissions (paying instead between $200 to $1300 in one-time fees)... which one do you chose?
Keep in mind also that these companies are restricted by law as to the services they can provide to you. It is impossible for them to get you on the MLS(R) as only a licensed REALTORR) can do that. (see article at left)
(FSBOs)
To the best of our knowledge, this is the only website in Ontario that provides access to all the local private sale companies in one place.
Even though you save money on agent's commissions (paying instead between $200 to $1300 in one-time fees)... which one do you chose?
Keep in mind also that these companies are restricted by law as to the services they can provide to you. It is impossible for them to get you on the MLS(R) as only a licensed REALTORR) can do that. (see article at left)
The "Best of Both Worlds" Selling Strategy
SELLING your home by yourself can be daunting. But, If it's priced properly and timed right, you can certainly attract potential buyers -as long as they can find you.
And if you're savvy enough to negotiate a legal deal with a buyer, then all you really need is a lawyer, a home inspector, and a good moving company.
So why do real estate agents frown on FSBOs?
It's simple. They know there's a lot of FSBO websites out there, and no unifying body to help organize a search (like the MLS(R).
Most private sale companies are franchises catering to limited geographical areas.
So how is that perfect buyer supposed to find you?
To sell your home yourself, you have to do your own marketing (competing with MLS(R), and brokers); run your own open houses (it is illegal to hire a professional to help you); perform due diligence on the home, it's title, chattels, mortgages, etc., handle your own negotiating with buyers (face to face, regardless of disagreements); perform your own document preparation (unless you pay a lawyer to do it all--an expensive proposition); arrange for a home inspector, and much more....
Our Comprehensive List of FSBO Websites...
Listed here, however, are companies-- web based by their very nature--that offer a service to help sellers promote their homes. Most include lawn signs and advertising on a website and, sometimes, in a published magazine or flyer also.
Some companies include generic legal forms and reading material that explains the basic principles. Keep in mind that Canadian law restricts these companies from physically helping you perform things like open houses, drafting offers, arranging buyer viewings, negotiating deals, etc
For the perfect combo of both private and MLS(R), look into Hamilton Home Review's "2-Part Plan" (right panel, this page)
And if you're savvy enough to negotiate a legal deal with a buyer, then all you really need is a lawyer, a home inspector, and a good moving company.
So why do real estate agents frown on FSBOs?
It's simple. They know there's a lot of FSBO websites out there, and no unifying body to help organize a search (like the MLS(R).
Most private sale companies are franchises catering to limited geographical areas.
So how is that perfect buyer supposed to find you?
To sell your home yourself, you have to do your own marketing (competing with MLS(R), and brokers); run your own open houses (it is illegal to hire a professional to help you); perform due diligence on the home, it's title, chattels, mortgages, etc., handle your own negotiating with buyers (face to face, regardless of disagreements); perform your own document preparation (unless you pay a lawyer to do it all--an expensive proposition); arrange for a home inspector, and much more....
Our Comprehensive List of FSBO Websites...
Listed here, however, are companies-- web based by their very nature--that offer a service to help sellers promote their homes. Most include lawn signs and advertising on a website and, sometimes, in a published magazine or flyer also.
Some companies include generic legal forms and reading material that explains the basic principles. Keep in mind that Canadian law restricts these companies from physically helping you perform things like open houses, drafting offers, arranging buyer viewings, negotiating deals, etc
For the perfect combo of both private and MLS(R), look into Hamilton Home Review's "2-Part Plan" (right panel, this page)
www.privaterealestate.ca
Probably one of the most visible companies in this area, it includes open house listings (for FSOBs), tips, and links to mortgage brokers and such. Good advertising budget could draw buyers to the site and printed publications are available in many locations around the area.
Probably one of the most visible companies in this area, it includes open house listings (for FSOBs), tips, and links to mortgage brokers and such. Good advertising budget could draw buyers to the site and printed publications are available in many locations around the area.
www.propertyguys.com
An up-and-coming franchised site with lots of good organization. They opened up a Hamilton office earlier this year and are adding franchises every month. Founded in Nova Scotia and better in other provinces at the moment. Keep an eye on them.They've been winning Franchise Awards of late. Dale Betts of propertyguys has published a pretty decent book about FSOBs. If you're interested, CONTACT US to order a copy.
An up-and-coming franchised site with lots of good organization. They opened up a Hamilton office earlier this year and are adding franchises every month. Founded in Nova Scotia and better in other provinces at the moment. Keep an eye on them.They've been winning Franchise Awards of late. Dale Betts of propertyguys has published a pretty decent book about FSOBs. If you're interested, CONTACT US to order a copy.
www.bytheowner.com
Another fairly visible company in this area. A very organized and structured site with lots of tips and links to plumbers, movers, home inspecters, etc.
Another fairly visible company in this area. A very organized and structured site with lots of tips and links to plumbers, movers, home inspecters, etc.
www.propertysold.ca
One of the up-and-comers. Check out common phrases on Google and you'll see these guys on page one most of the time. That's internet savvy which is what you need for private sales. No one is going to see your home unless they can find the website it's listed on. After the MLS, Google is the second place people start their search. These guys understand that concept.
www.housemaxx.ca
Blatantly international, this site attempts to satisfy everyone with everything, including rentals. Worth a looksee for the international possibilities, but tough to narrow down locally.
Blatantly international, this site attempts to satisfy everyone with everything, including rentals. Worth a looksee for the international possibilities, but tough to narrow down locally.
www.assist2sell.com
Okay, it's primarily a U.S. site playing homage to Canada, but if you're interested in properties in Eastern Canada or London, Ontario (?), then it's worth a look. If the franchise takes off, it's got potential.
Okay, it's primarily a U.S. site playing homage to Canada, but if you're interested in properties in Eastern Canada or London, Ontario (?), then it's worth a look. If the franchise takes off, it's got potential.
www.privatesale4u.com
This site was created by an entrepreneuer in this area. Not glitzy but has all the necessary info and is geared to Greater Hamilton (mostly the East End, Mountain, and Stoney Creek.
This site was created by an entrepreneuer in this area. Not glitzy but has all the necessary info and is geared to Greater Hamilton (mostly the East End, Mountain, and Stoney Creek.
www.forsalebyownercanada.com
Listings are in odd places, listed by number as opposed to town. Mostly rural but worth a look if that's your destination. Don't mistake with FSOB.com which is a U.S. site (though that site is terrific for generic tips and tidbits).
Listings are in odd places, listed by number as opposed to town. Mostly rural but worth a look if that's your destination. Don't mistake with FSOB.com which is a U.S. site (though that site is terrific for generic tips and tidbits).
www.propertyshop.ca
As with similar concepts, it's only good where they've sold franchises which in this case are specific and diverse counties and cities in Southern Ontario only. If it's where you're searching or selling, it may do the trick though.
As with similar concepts, it's only good where they've sold franchises which in this case are specific and diverse counties and cities in Southern Ontario only. If it's where you're searching or selling, it may do the trick though.
www.worldwide-realestate-forsale.com
It doesn't cost much to list your home but random checks show less than 50 homes for sale in Hamilton at any given time when there are, in fact, hundreds.
But if you're looking to find buyers in Spain? Probably good for a back up site you can send to relatives for fun.
It doesn't cost much to list your home but random checks show less than 50 homes for sale in Hamilton at any given time when there are, in fact, hundreds.
But if you're looking to find buyers in Spain? Probably good for a back up site you can send to relatives for fun.
www.ontariolistings.ca
Pretty comprehensive since it's limited to Ontario. Has city searches and lots of info on homes. Good pricing for packages. Based in Eastern Ontario (but does that matter on the web?)
Pretty comprehensive since it's limited to Ontario. Has city searches and lots of info on homes. Good pricing for packages. Based in Eastern Ontario (but does that matter on the web?)
www.justlisted.com
This site is a promotional tool for real estate agents. Not an FSOB, but it will get you to other sales rep's if that's what you need. Agents pay to be a part of the program. FSOB search engines often lead you here.
This site is a promotional tool for real estate agents. Not an FSOB, but it will get you to other sales rep's if that's what you need. Agents pay to be a part of the program. FSOB search engines often lead you here.
www.listingking.com
Seems to be a relatively new site because there at last check there were houses for sale in our area. Listings are free and they are aggressively going after agents too so it may catch on. The search engine seems good and they do offer services such as documents, lawyer referalls, etc. Keep your eye on it
Seems to be a relatively new site because there at last check there were houses for sale in our area. Listings are free and they are aggressively going after agents too so it may catch on. The search engine seems good and they do offer services such as documents, lawyer referalls, etc. Keep your eye on it
www.on4sale.ca
I don't really understand this one. Are these the only listings. If not, how do you see all the others? You'd think being a division of Canada Homes For Sale it would be a little more user-friendly. If you can figure it out, please let us know.
I don't really understand this one. Are these the only listings. If not, how do you see all the others? You'd think being a division of Canada Homes For Sale it would be a little more user-friendly. If you can figure it out, please let us know.
www.virtualfsbo.com
We actually found out about this one from a client who used it place his home on the internet. International in scope, they only hit certain cities, likely those where customers coming from. eg: Our client was the only home listed for the town. Hamilton isn't on the list and Toronto only lists 6 homes.
We actually found out about this one from a client who used it place his home on the internet. International in scope, they only hit certain cities, likely those where customers coming from. eg: Our client was the only home listed for the town. Hamilton isn't on the list and Toronto only lists 6 homes.
www.canadahomesforsale.ca
The plan is national and it's a nice idea but only the beginning by the looks of it (2 homes in Ontario). They seem to be associated with www.on4sale.com
The plan is national and it's a nice idea but only the beginning by the looks of it (2 homes in Ontario). They seem to be associated with www.on4sale.com
www.ibuyhousesfast.ca
If you're at the end of your rope and can't sell your house, then these guys will help you out. They'll buy, lease, rent, finance; depends on your situation. Investors participate by being the "angels" that provide the funds. Be sure you've tried all your options first though; i.e: REALTOR(R), private sale, etc., before you go this route.
If you're at the end of your rope and can't sell your house, then these guys will help you out. They'll buy, lease, rent, finance; depends on your situation. Investors participate by being the "angels" that provide the funds. Be sure you've tried all your options first though; i.e: REALTOR(R), private sale, etc., before you go this route.
www.transcanadahousing.com
This fairly new player seems to have learned from the others and provides a decent service for one price: $99. As with most, what they can do is limited but if you are confident in your own abilities to sell your house, your $99 buys you signs and minimal exposure in a printed publication. The biggest problem, as with many, is that they are based in the West. A simple search for any priced home in Hamilton during Sept/07 revealed 0 homes for sale!
This fairly new player seems to have learned from the others and provides a decent service for one price: $99. As with most, what they can do is limited but if you are confident in your own abilities to sell your house, your $99 buys you signs and minimal exposure in a printed publication. The biggest problem, as with many, is that they are based in the West. A simple search for any priced home in Hamilton during Sept/07 revealed 0 homes for sale!
www.privateexchange.ca
We discovered this one when a client moving to the Hamilton area told us they were selling privately. With offices in Windsor, Muskoka, Durham, and Vancouver Island, BC., it is very definitely an exclusive site and useless anywhere else. However, if you feel your home would sell in any of these area, they have created a very effective niche marketplace. A glossy magazine is available at local merchants also. Similar to privaterealestate.ca in our area.
We discovered this one when a client moving to the Hamilton area told us they were selling privately. With offices in Windsor, Muskoka, Durham, and Vancouver Island, BC., it is very definitely an exclusive site and useless anywhere else. However, if you feel your home would sell in any of these area, they have created a very effective niche marketplace. A glossy magazine is available at local merchants also. Similar to privaterealestate.ca in our area.
www.forsalebyowner.ca
Based in Alberta, this site's best function is its tips. But you can sell a home here, if you don't mind the national approach.
Based in Alberta, this site's best function is its tips. But you can sell a home here, if you don't mind the national approach.
www.propertyswarm.com
This one has promise. It's broken the Greater Toronto area down into cities and municipalities. There you find a decent number of private listings. You can list for free. There are 59 listings in Hamilton at the time we looked but many didn't have pictures (which kind of defeats the purpose I would think). And you can search price range, etc.
This one has promise. It's broken the Greater Toronto area down into cities and municipalities. There you find a decent number of private listings. You can list for free. There are 59 listings in Hamilton at the time we looked but many didn't have pictures (which kind of defeats the purpose I would think). And you can search price range, etc.
Homes that sell privately, sell within the first couple of weeks.
Why?
Because he price, location and timing were perfect.
If one of those factors is missing, the home will sit on the market for a long time.
Why won't they sell then?
Because the only people who know your home is for sale are those who drive by...and they've done that already.... and didn't buy.
There is, of course, the possibility that someone will find your home on one of the numerous websites presented here. But they have to search each one individually...and of course, you have to have picked the right one and paid to have your home listed there
Why?
Because he price, location and timing were perfect.
If one of those factors is missing, the home will sit on the market for a long time.
Why won't they sell then?
Because the only people who know your home is for sale are those who drive by...and they've done that already.... and didn't buy.
There is, of course, the possibility that someone will find your home on one of the numerous websites presented here. But they have to search each one individually...and of course, you have to have picked the right one and paid to have your home listed there
NO SINGLE WEBSITE IS AS EFFECTIVE AS THE MLS(R), System, HAMILTON HOME REVIEW INCLUDED!
But if you want to give selling privately a try, we have the Plan for you.
Why is our plan so good?
You choose how long you want to try selling privately. We'll provide the signs, and list your home on over 50 websites (including a Feature Story on this website click here for a sample).
If the house doesn't sell in that time period, we'll automatically put you on the MLS(R) system where over 2000 agents in the area will immediately see it and begin bringing prospective buyers they already have to see it!
All of this is FREE so far!
When you sell, the most commission you will ever pay is 4%.
(total amount, not just one side of the deal)
And for that fee, you receive a full REALTOR(R) service from us (for more info on our service go to Selling)
For more info on FSBOs, contact us at left and tell us you're interested in the "Best of Both Worlds"
But if you want to give selling privately a try, we have the Plan for you.
Why is our plan so good?
You choose how long you want to try selling privately. We'll provide the signs, and list your home on over 50 websites (including a Feature Story on this website click here for a sample).
If the house doesn't sell in that time period, we'll automatically put you on the MLS(R) system where over 2000 agents in the area will immediately see it and begin bringing prospective buyers they already have to see it!
All of this is FREE so far!
When you sell, the most commission you will ever pay is 4%.
(total amount, not just one side of the deal)
And for that fee, you receive a full REALTOR(R) service from us (for more info on our service go to Selling)
For more info on FSBOs, contact us at left and tell us you're interested in the "Best of Both Worlds"
IF YOU KNOW OF OTHER SITES THAT SHOULD BE LISTED HERE, PLEASE CONTACT US.
We like this site, although it is NOT associated with us . But if you're thinking of selling yourself, it's a valuable source of generic FSBO information and advice. Membership options are for American services though, so if you join, remember that all the links and services offered are for purchasing US properties. It's the advice and generic info that's valuable.
Presented by:
Brokerage - 905-648-3333
Direct - 905-536-4644
Direct - 905-536-4644
INFORMATION ON THIS WEBSITE IS NOT MEANT TO SOLICIT CLIENTS AND/OR PROPERTIES ALREADY UNDER CONTRACT. Robert J. Morrow is a licensed Real Estate Sales Representative with Chase Realty, Brokerage, 436 Wison St. E., Ancaster ON (905) 648-3333, and is a member of the Realtors Association of Hamilton/Burlington (RAHB). Susan Gogishvili is publisher of Hamilton Home Review. Please address all inquiries to: robert@hamiltonhomereview.com
*Vodahost, Dec/08
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Try private first..
Then if it doesn't work, jump onto the MLS(R) right away!
Then if it doesn't work, jump onto the MLS(R) right away!