If you’re looking to sell your house or investment property in Vancouver B.C. without using a real estate agent, we can help.
Although we do co-operate with agents and encourage using them in most cases, in some situations it makes more sense to avoid paying someone to be in the middle.
After all, paying 3-5% of the sale of a property in a commission is a considerable amount of money, especially in Vancouver! In many situations, British Columbia brokers and real estate agents can be very useful and earn their commission. In some cases however it can be more beneficial to the seller to work directly with an investor.
There are a few ways to avoid paying high commissions in your British Columbia sale.
First, there’s a standard structure that you should know about.
In most sales in Vancouver B.C. , roughly half of the commission you pay as the seller goes to pay for the buyer’s agent. (Also in some markets it has become illegal for an agent to perform a dual representation, for the buyer and seller).
Paying another agents commission might not sound fair, but there are two side to a real estate transaction and it can be beneficial to the seller having another agent bringing potential buyers around to see your property. The reality though is that they don’t work for free.
You can use that to your advantage in a few ways.
First, make sure your agent factors in the commissions paid when you’re looking at comparable sales. If the properties similar to yours sold for prices that included commissions, take that into account.
Don’t underprice your property – be aware that a savvy buyer may expect to take a discount too. If you’re doing the work of one agent, you can expect to save that money.
Sometimes in Vancouver B.C. buyers who aren’t represented by an agent won’t remember to negotiate the buyer’s side commission out of the price for themselves, so unless you want to pay them, don’t remind them. However, you should be prepared for it to come up during the negotiation.
You may want to consider offering 2.5% to buyer’s agents who will bring their clients to show your property. That may sound like a lot of money, but if you’re pricing your property including that commission, you can always negotiate a better deal for a purchaser who comes without an agent.
On the other hand, if you don’t leave room for the buyer’s agent’s commission, you may be excluding most of the buyers in the market in Vancouver B.C. .
Over 90% of transactions happen through the MLS – that’s the Multiple Listing Service. It’s the main database that all the brokers and agents in Vancouver B.C. use to access information for their clients on the houses, condos, land and investment properties for sale, along with data on properties sold in the past.
Once upon a time, you had to pay a full commission to get your property on the MLS. Now in Vancouver B.C. , there are a few agents who will charge you a fee just to list your property on the MLS. Often, you spend a few hundred bucks and you only pay commission if the sale closes.
Compared to the cost of a newspaper ad, the MLS is a cheap and effective way to market your property to a very wide audience.
All the major real estate search sites like Realtor.com, Zillow, Yahoo Homes, etc. get their data from the MLS. Chances are good that when you submit your listing in Vancouver B.C. to the MLS, information on your property will end up on most of the major real estate sites within a few days.
Each of those sites also sells ads. They’ve got packages that let you pay to enhance your listing, feature it at the top of the search, and a lot of other bells and whistles that may or may not get an interested buyer to seriously consider your property.
Advertising is a gamble. Sometimes open houses in Vancouver B.C. British Columbia can be a great way to sell property, and sometimes they’re a waste of time, only brining in non-serious “browsers”. Same goes with newspaper ads, craigslist postings, fancy signs – sometimes they work, and sometimes they don’t.
To effectively sell your property on your own, you need to market it well.
Putting up signs and distributing fliers around your neighbourhood can generate some calls, and there’s also a lot of free websites where you can post information. But in most cases just putting up flyers and an open house isn’t enough, especially if your house doesn’t appeal to the average home buyer.
In most cases, real estate agents need to charge higher commissions because they have to spend a lot of time and money up front to advertise your property. By advertising lots of properties at once, they expect to get more phone calls – and obviously, they’ll make good profits by selling a large number of houses.
Certain properties might require thousands of dollars in advertising expenses, and many hours over weeks or even months before the right buyer happens to see the ad and call.
If you’re in a unique situation and you want to avoid paying any commissions, you can also sell your house to investors like us for CASH
We offer fair prices for properties – and we can close fast (in as little as 5-7 days if necessary).
If we can’t immediately come to an agreement on a price, we can also put together a creative deal that will work for your unique situation.
Sometimes we’ll purchase Vancouver B.C. houses, fix them up, then rent them out… sometimes we’ll fix them up and sell them to other people looking for great homes in the area, and a lot of other reasons, too – but we love to hear from people like you who are thinking of selling anywhere in British Columbia.
We’re investors who care a lot about Vancouver B.C. .
We are able to close fast and pay cash in as little as just 5-7 days. Give us a call now at (604) 961-6765 or fill out the short form over here.