The population continues to grow in the wealthy city of Calgary. Now is a great time to make that move you’ve been planning to Alberta, Canada. The market has many attractive and affordable Calgary houses for sale.
Many people are moving to Calgary because of its employment availability in a wide variety of industries including oil, farming, and technology. The city is known for its stunning mountain scenery and its many major festivals.
When searching for a home, some potential buyers toss around the idea of buying a home privately from an owner rather than using a real estate agent. Buying a home without an agent has its risks. A realtor will protect you from these risks. Your agent has experience and knowledge that will prevent you from making expensive mistakes.
Here are four common myths many home shoppers have concerning “for sale by owner” properties.
Myth 1. The Realtor to Realtor Only Myth
If you think a realtor can only sell a home that is in the MLS (Multiple Listing Service), you are mistaken. Finding the home you want is the number one intent of your agent.
If you have found a privately listed home for sale, inform your realtor. An agent can help you negotiate an offer and make sure everything is legal.
Your realtor can approach the seller and discuss a fair commission amount. A seller with a home on the market is almost always willing to negotiate in order to sell the home.
Myth 2. Private Owners Will Not Work With Realtors
Many buyers think a private seller will not deal with a realtor. Anyone wanting to sell their home will consider any reasonable offer, whether the offer comes from an agent or a private buyer.
The obvious reason some sellers go the private sale route is to avoid paying a commission. However, by listing the property themselves, they eliminate about 90% of the home buyer market. This means their property may remain unsold for quite some time.
The private home seller is probably not experienced in the selling and buying of property. The use of an agent is a benefit to him/her, as well. The realtor makes sure everything is on the up and up and handled properly. The agent, in the ultimate end, protects both parties.
Myth 3. The Realtor Commission Payment Myth
Some first time home buyers assume that there are fees up front for seeking a realtor’s assistance. They see a potential money savings that does not exist.
The only up front cost is your time. When a property is found that you want to purchase, the agent is still not paid until the day you sign the papers and the property becomes yours. The agent is paid out of proceeds from the sale.
Myth 4. A Private Seller Is Easily Negotiable
The private seller, by avoiding a realtor, is eliminating a huge percentage of potential buyers. FSBO properties are not in the multiple listings, and that removes the house from a lot of shopper exposure. The seller is most likely doing this to avoid a commission for the agent.
This is a real indicator that the owner is not going to be easily negotiable, if at all.
You might “save” something on the sale going privately, if you are lucky. If not, it may end up costing you more than you bargained for. An agent can prevent legal problems and mistakes that may haunt you for a long time.
Myths 1-5. The Myths Dispelled
You should feel much better about the value of a real estate agent after learning the truth about a few of these FSBO myths. If you purchase a home through an agent, you can rest assured that proper documents will be obtained, such as a property disclosure statement.
Most private sellers are not familiar with proper home sale procedures. He/she probably does not even have a real estate contract. If so, it most likely is not current or designed for that specific type of sale. An agent can make sure you are treated fairly because he/she knows what the home is actually worth.
A “for sale by owner” listing is still a possibility when searching for Calgary houses for sale. Your home buying experience will be greatly improved and risk-free if you use a realtor, even in a private sale purchase.
Tom Sherry is a Calgary real-estate agent. You can find more tips on finding Calgary houses for sale. Also search listings in Calgary by visiting Tom’s website by clicking here
