Using a Real Estate Broker Has its Advantages
You can definitely sell your own house, change your own tires, cater your own wedding or file your own taxes. Yet many people opt to hire a professional to take care of these tasks for two things: Time and Money.
Outsourcing any of these tasks gives you the time to participate in other productive activities and avoids the probability of making costly mistakes.
Here are some reasons why it’s advantageous to hire a real estate broker:
Realtors have many resources at their fingertips. To study the market, they have specialized tools that give them the history of properties and how much properties have sold for.
If real estate agents need information outside their field of expertise, they have notaries, mortgage brokers, real estate accountants, real estate lawyers, home stagers, contractors, inspectors and many many more specialists on speed dial.
Quebec real estate brokers are regulated members of the CREA(1) and the provincial board OACIQ(2). Brokers are obliged to fully inform their clients about all pertinent information related to the transaction at hand, protect their clients rights with their best interest at heart, inform parties on either side of unfavorable factors, ensure proper recording of all documentation is preserved as well as ensure the confidentiality of the parties involved in a transaction.
The Real Estate Brokerage Act and the Civil Code of Quebec protect consumers who elect to hire a real estate broker to buy, sell or lease their property. Should a broker make an unintentional fault, error, negligence or omission, the FARCIQ(3) will make sure monetary orders are received by the victim. Similarly, the FICI(4) will do the same in the cases of fraud, dishonest procedures or misappropriation of funds when a real estate transaction is carried out by a broker.
Real estate brokers are not personally attached to the properties they sell. As oppose to owners who try and sell their own homes, emotions of brokers do not get in the way of reaching an agreement with buyers and closing the sale.
Their extensive experience, specialized tools and market knowledge allow realtors to help sellers make informed decisions on the pricing of their home because it is the seller who has the final say on the price. Market value is determined by the sale price and not on the listing price of a neighbours home.
Buyers will be calling and requesting visits on a daily basis perhaps while you are at work or having dinner with family. They will schedule times to visit where you will need to be home to welcome them. Perhaps you will have to cancel weekend vacation plans to accommodate buyers visits.
Selling your home can indeed be super simple but it can also get a little complex at times. Especially when it comes to the paperwork. Making sure you are legally covered on all sides is your real estate agent’s job.
Realtors are immersed in their craft on a daily basis and know exactly what to do in an atypical situation because they have experienced it in another transaction. Learning the ins and outs of legal matters and paperwork as well as unlearning unrealistic expectations in a real estate transaction will be time consuming, and the lessons you will learn along the way will usually cost you a few bucks to fix.
What it comes down to…
Selling your own home is totally doable and people do it everyday, however now you can make a more informed decision. Don’t hesitate to get in touch with a real estate broker to guide you through the process of selling your home if these advantages hit home for you. Or if you feel you have the time to learn the ropes and the patience to spend a little more money if unforeseen mistakes occur then give it a go on your own!
Whatever you decide, I welcome any questions you may have. They can be directed to the contact form below.
(1) Canadian Real Estate Association
(2) L’organisme d’autoréglementation de courtage immobilier du Québec
(3) Fonds d’assurance responsabilité professionnelle du courtage immobilier du Québec
(4) Real estate indemnity fund