A selling quandary
By Linda Mondoux
I had studied the market for a year, attended umpteen open houses
in my Kanata neighbourhood and kept in touch with real estate agents
to keep on top of selling prices.
That, I would soon find out, was the easy part.
With plans to quit my job and move to Cobourg to begin a freelance
writing/editing career, it was time to put my research into practice
to sell the two-storey house we have called home for nine years.
Because my husband will also quit his job and join the ranks of
the self-employed, we decided we needed to maximize our dollars,
thus the decision to go it alone - almost - on the home-selling
front.
We turned to Grapevine Home Marketing Consultants, the company
that helps for-sale-by-owner people market their homes. I plunked
down my $295, which bought me a professional For Sale sign for
my front lawn and a spot on the Grapevine website, where I could
market my house by posting photos, a blurb extolling its virtues
and statistics about room sizes, type of flooring, etc.
While I was confident that my research had helped me price the
house right, we were somewhat apprehensive about the sale. Would
enough people see the listing?
To hedge our bets, we had decided that our listing would include
the banner, "Agents welcome at 2.5 per cent," meaning
that if an agent brought us a buyer, we would pay him for it. But
as we were typing up our listing, we had a moment of bravery and
decided we would try it without the banner for a few weeks, before
we panicked. We're glad we did.
We had also decided that we would not have open houses, since
they often attract the wrong crowd - people who dream about living
in a house like ours, but who can't afford it, and snoops like
me, who like to look, but have no intention of buying. Private
viewings, we decided, would attract the serious buyer we were seeking.
We had watched enough home shows on TV to know that the best way
to generate some buzz was to organize a weekend of private viewings,
so that everyone knew they would be competing against others. We
were thrilled when the phone rang off the hook the first day our
listing appeared on Grapevine. Everyone, it seemed, couldn't wait
to see our house.
We booked 10 appointments over two days and received three offers
well over the asking price. Fantastic!
While making sure the house was spotless for the viewings was
a major headache, and guiding strangers through the house while
they looked in my closets and flushed my toilets was both nerve-wracking
and exhausting, this, too, turned out to be the easy part.
Here's the problem: we liked all three families who offered to
buy our house. Their offers, including conditions, were similar.
How to choose? And how to tell the others that they had lost out?
A moral dilemma, indeed.
With an agent, we would not have been forced onto this emotional
roller-coaster. We wouldn't have met the people viewing the house;
we wouldn't have had to negotiate with them; and we wouldn't have
had to be the ones to disappoint them.
And, as we were to find out, we would not have had to guide first-time
buyers without an agent through the process, including the inspection.
Getting through the process turned out to be more time-consuming
than it ought to have been.
Unfortunately, we had to start the whole selling process over
from scratch when our buyers were struck by a family tragedy and
could not continue with the sale. After having talked back and
forth on the phone for two weeks, and meeting them again during
the inspection, news of the accident hit us hard. It was as though
a member of our own family had been injured. Our hearts went out
to them.
We vowed, however, that we would not get emotionally involved
with the next set of prospective buyers. That was easier said than
done. We did receive another three fantastic offers after another
hectic weekend of private viewings. We chose one and had to disappoint
the others. It was most difficult telling one couple, who had fallen
in love with the house when they viewed it during Round 1, that
they had been bested again.
Selling a house without an agent is definitely not for the faint
of heart.
Published in The Ottawa Citizen on Oct. 20, 2007
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