Selling your home? You’ve got options

Selling a house with a real estate agent

Pros:

• Peace of mind. The agent takes care of everything, from putting up the sign to accepting the purchase offer, including marketing and visits.

• Training. Agents have to take a course and pass an exam to get certification from Quebec’s real estate brokerage authority (which provides information and protects the general public).

• Experience. Unlike for you, this wouldn’t be the agent’s first kick at the can. You'll get the benefit of their experience and good advice, especially when it comes to making your home look good.

• Visibility. In addition to posting your home on their website, your agent will also post it on exclusive real estate brokerage sites, other specialize sites, or in newspapers.

• Accurate appraisal. Your real estate agent doesn’t have fond memories of your home and isn’t emotionally attached to it. Those factors won’t affect their assessment. It will be based on facts, taking your location into account.

Cons:

• Commission fees. The agent’s commission is usually around 5% to 7% of the sale price.

• You’re contractually bound. The contract stipulates that only the agent can sell your home until the indicated date (3 months, 6 months), unless you sign a non-exclusive contract (you or another agent can find a buyer).

• Potential disagreements. You aren’t the only one steering the ship. For example, your agent may be tempted to consider an offer that’s too low or vice versa.

Selling your home with a marketing platform

Pros

• Potential financial gain. Even if you have to pay for a platform plan and fees for various specialists, it could be advantageous for you. It will definitely cost less than an agent’s commission.

• Go at your own pace. There’s no pressure and you can refuse all offers until you get the price YOU want.

• Control over visits. You choose who visits and you can filter prospective buyers yourself, if you wish.

• You know your property. Who better to sing the praises of your home?

Cons:

• Investment of time and energy. Selling a house without an intermediary requires full involvement throughout the process. You are fully responsible for the whole thing, from planning to closing.

• Tough negotiations. Not everyone is a salesperson. To do a good job, you need to detach yourself from your home. Refusals, negative comments, buyers who point out defects, and cutthroat negoations can be hard to deal with emotionally.

• Support needed from specialists. Plans from real estate sales platforms usually include access to certain specialists, but you will still need to hire others (appraiser, inspector, notary – obligatory with or without agent!) to finalize the transaction and avoid costly mistakes. Feeling up for the challenge? Read on for tips on a smooth sale. But if you don’t have the time and energy to devote to selling your home, it’s better to hire a real estate agent.

4 winning conditions for a successful home sale without an agent

Have you decided to sell your home through a specialized website? Make sure you do things by the book to avoid unplesant surprises.

These tips also apply if you are one of the few people who decide to sell their home without any help at all.

1) Choose your appraiser carefully

Price is the most important part of your listing. Pricing your house above market value can drive away buyers, but selling too low means you lose money. A good certified appraiser will set the price of your home using a rational method that takes market conditions and location into account and is free of any emotional attachment. The sale price will show you which renovations were the most profitable.

2) Have your house inspected BEFORE you put it on the market

Using a home inspector to assess the condition of your property before putting it on the market is not obligatory (with or without agent) but can save you a lot of headaches. It’s like a checkup for you home, and must be carried out by a neutral and objective pro. Choose a certified building inspector that has liability insurance to cover any errors or omissions. You can use the inspection report to support your sales arguments and in negotiations. You can also include any known defects in the official report in order to avoid any potential recourse.

3) Advertise your property online

Even if you've decided to advertise your house on one marketing platform, nothing prevents you from posting it on other websites or peer-to-peer sales platforms. Share it with your contacts and ask them to do the same.

4) Hire a notary

Talk to your notary as soon as a buyer sends you an offer. The offer is a legal document—a preliminary contract—that is legally binding. An accepted offer is equivalent to a sale. It’s a written agreement that sets out the conditions under which the buyer agrees to purchase your property. Once you sign it, you have to abide by it. That' s where the notary's crucial - and obligatory - role comes in. That’s where the notary comes in. They will guide you from the moment you receive an offer to closing.

Have questions? CAA-Quebec’s Residential Advisory Services has answers. Plus, CAA-Quebec home insurance policyholders have free access to The Assistant for legal advice. You can also check out CAA-Quebec’s 10 tips for selling your home fast.

Checklist of things to do before putting your home on the market

Take the time to do the following:

Get your house market ready

• Do a deep clean and declutter each room.
• Repair visible defects (ill-fitting doors, broken light fixtures, leaky faucets, etc.) and put a fresh coat of paint on faded walls. Not the handy type? Check out CAA-Quebec’s network of Approved Residential Suppliers to find a trustworthy pro nearby.

Put together a complete file on your home

• Make sure your certificate of location is less than 10 years old. If it isn’t, or if you’ve done major renovations, it’s time to get a new one. Also, the buyer’s notary or financial institution may require a more recent certificate.
• Gather the documents that visitors or potential buyers will want to see, including property tax statements, heating and electricity bills, bills for recent renovations, and transferrable warranties (roof, windows, heat pump, etc.).
• Familiarize yourself with the Promise to purchase and the Declarations by the seller of the immovable documents, which you need to have at the time of sale, along with your tax, electricity, and gas bills, the declaration of co-ownership (if it’s a condo), the certificate of location, and the previous deed of sale. Remember that the notary is the specialist when it comes to contracts and that it’s a good idea to get them involved in the sale as soon as possible.
• Most real estate platform plans include photography services. If yours does not, take high quality pictures of your house or hire a professional photographer. Hiring someone is usually a worthwhile investment. If you’re selling in winter, add a few photos taken in the summer so potential buyers can see the landscaping.

Get ready for visits

• Record a new voicemail greeting asking potential visitors to leave you a message.
• If you’re unsure of your negotiating skills, ask a competent friend or relative for help.

Stage your home to have it looking its best

You don’t necessarily need to hire professionals to create a neutral, yet warm and inviting atmosphere that will make visitors feel comfortable and that it’s a nice place to live. Here are a few tips:

• Remove family photos and unnecessary accessories (especially in living areas) and put out flowers and plants.
• Let lots of light in. Houses with natural light are more attractive.
• If you have a stove, put in a wood fire—it’s magic!
• Get the house smelling good. Studies show that the smell of soup, fresh bread, or apple pie has a positive effect on prospective buyers.
• Crete a calm and relaxing sound environment.

Notify your home insurer when you list your house

Your home insurer will make sure your coverage is sufficient, regardless of your situation. For example, they’ll make sure you’re covered if you put belongings in storage to declutter and stage your home or move into your new home and leave the old one vacant for a period of time. They'll also make sure your belongings are covered during the move.

All ready? Hang your FOR SALE sign, and good luck!