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Should you sell your House on Your Own?

Anyone who’s ever sold a house has probably entertained that idea of selling it on their own at one time or another. Approximately 9% of the homes sold in North America today are sold by their owner. About one third of those are sold to someone the owner knows.

There’s no doubt that you can save money on real estate commissions by selling your home yourself. However, it might not be as much as you think. When a house is sold in Alberta, the commission is split between the seller’s agent and the buyer’s agent. Even if you go it alone and sell your house yourself, you have to pay a commission to the buyer’s agent if they have one. So, you’re only saving half of the commission. Most people aren’t comfortable buying a house without the help of a realtor so you should assume that one will be involved. If you turn away buyers who want to use their own agent, you’re going to limit the number of potential buyers dramatically.

It’s hard to be objective when you’re selling your own house. There could be emotional attachments and maybe you’re not selling it voluntarily but because of divorce, a new job or the loss of a job, or you’ve retired and you’re downsizing. You have to ask yourself if you will be able to handle negotiating a sale price with a seasoned real estate professional working for the buyer.

When you sell your home yourself, you also have to be prepared to put a lot of time and effort into it. You’ll have to field calls, schedule showings, and be ready to show your house on a moment’s notice. Selling a house yourself can easily become a part time job. If you already have a job, it can be too much.

Another advantage of working with an agent is they handle the sometimes complex legal requirements of a real estate sale.

Selling a home yourself can save you money. But, if you put a dollar value on the amount of time and effort that you have to put into it, not to mention the stress and aggravation, you might well discover that it’s not worth it.

If you’re thinking about selling your home and you want a professional real estate agent in your corner, contact Patrick Murray in Calgary.