Being born and raised in Windsor, Ontario, I never paid much attention to the real estate market until a couple of years ago when I decided I myself was going to become a Realtor and help others buy and sell homes. After spending a year in Toronto selling real estate there, I moved back to Windsor and continued my career as a Realtor. I am quickly learning that Windsor's real estate market is much different then the real estate market in Toronto. The main difference being that people love to buy and sell homes on their own here in Windsor; Kijiji is one of the main methods to advertise homes; and Realtors are somewhat frowned upon as people would rather save the thousands of dollars and do it themselves.
Upon doing some investigation, I can understand the reasoning behind buying a home on your own and selling a home on your own. You will save yourself money, however, you will not save yourself the time. And is this not the main reason we choose to do many things on our own? Fixing a leaky faucet, installing your own hardwood floors, changing your own oil in your car... I could go on and on but you get the idea. We do things on our own to save money, but not because we can do it better. We do things on our own because it saves us time, but this is something not everyone has. My investigation showed that selling your home in fact takes up much more time then one would think. Sure you can get a lawyer to handle possibly a quarter or half of this work, but the remaining tasks fall in the owner's lap. I just recently listed a home on 2892 Brimley, Windsor, ON and decided to jot down the time it took to do the main tasks that I perform when listing a home. Now, this is not an exact science, but gives one an idea of the time you will spend selling a home on your own. Below is a breakdown of some of the major steps involved and the time involved.
|Task at Hand||Time (hours)|
|Home Evaluation - Preview Home||1|
|Analysis of Home Evaluation - CMA||3|
|Gathering of Information to List Home - Data Input||1|
|Preparing of Documents - Listing Agreement & Data Input||2|
|Signatures on Documents||0.5|
|Submission of Documents to Board||0.5|
|Home Staging and Pictures/Video of Home||3|
|Design of Home Flyers||2|
|Editing of Pictures/Video||5|
|Uploading to Social Media Sites, Website, Kijiji etc||2|
|Creating Home Personal Website||4|
|Email to Buyer Database of New Listing||0.5|
|Hand out Flyers for Upcoming Open House/Just Listed (2 flyers delivered per minute)||8.3333|
|Setting up for Open House and Time at Open House (perform every 2 weeks)||13.5|
|Dealing with potential clients; phone calls, information on home||2|
|Dealing with Realtors to schedule house showings||2|
|Weekly Uploading to Social Media Sites, Kijiji, Websites on avg||18.00|
|When Offer Presented, Communicating with Seller and negotiating with Buyer||2|
|Preparing Documents of Agreement of Purchase and Sale for Signatures||1|
|Submitting of Documents with Signatures - Offer Accepted||0.5|
|Communicating with Lawyer||0.5|
|Communicating with Bank||0.5|
|Helping Sellers with anything ie moving, storage, cleaning, misc.||5|
These numbers were based on a home in the neighborhood of Forest Glade of Windsor taking an average of 9 weeks to sell. Now some of these steps I'm sure a for sale by owner wouldn't be pursuing as there is a lot of work involved. So even if we were to cut out all the extra work that myself as a Realtor performs when trying to sell a client's home, your still looking at a lot of time spent doing the tasks yourself. For the record, my clients, all they had to do was sign some documents, then I went and took care of the rest.
There are also other factors that come into play, main one being, when selling your home on your own, you need to actually be at the home when someone wants to see it. You need to take your time to go there and show it, take your time to take the calls and arrange the showing. Perfect example was other day when showing a client a for sale by owner home, the owner couldn't be there until a certain time, as he was out shopping, even though we had scheduled the day before to see it; we never ended up seeing it.
In conclusion, selling a home on your own has its pros and cons, just like anything. If you're not in a real rush and aren't in a hurry to sell, then this option may be the best for you, however, if you want your house sold and just don't have 40-80 hours to do it on your own, then using a Realtor just makes sense, so give me a call today, I would be more than happy to sell your home, or help you buy your dream one!