Edmonton Real Estate Market Update:

If you have ever thought of selling your home "For Sale By Owner", have you thought about what type of home buyer is would show interest in  your home. A Serious home buyer would not purchase for sale by owner when they can get the services of a Realtor and his or her Brokerage to help in the purchase process at no costs to the buyer at all, and all the benefits of being legally covered in case there is an issue with the property ( where as if the home owner is not under contract with a Brokerage they do not have to disclose any hidden defects ). There are professional home buyers that do prey on For Sale By Owners for one of many reasons - to try to low ball the home owner and to save commissions!

The home buyer knows that the owner is not paying a sales commission. Therefore, the buyer expects to buy the home for a lower price. Now, Why did the home owner decide to sell as a For Sale By Owner? The answer is probably - to save commissions!

The issue is, there's only one commission the owner and the buyer cannot both save one commission. What is the home owner really trying to accomplish? Saving a commission, or putting the most amount of money in their pocket at the end of the day? A professional Realtor is a major asset for both the Buyer and the seller, Realtors are extremely well regulated by the Government that no incompetency is tolerated. Both parties have the privilege of their best interests being protected to the letter of the law.

Posted by Wally Fakhreddine on


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