Selling property privately or For Sale by Owner (FSBO) is becoming increasingly popular in Canada .Removing the real estate agents from the sale is saving Canadian home owners thousands in commission fees.
The Real Estate Journal reports 18 per cent of sellers use the For Sale By Owner method. One Canadian for sale by owner web site called Propertysold.ca was developed in 2004 and today counts nearly 400 active listings across Canada attracting some 3300 visitors daily.
PropertySold President Michael Lawrence ‘Thus far in 2006 we have saved our clients roughly $1.3 million in real estate agent commissions,” The buzz of “For Sale By Owner” as a keyword is definitely a growing phenomenon both among the masses and the media,” he notes. “As more people are successful selling our industry stands to grow since we are really about saving people money.”
Popular Canadian for sale by owner web sites include:
Canadian real estate fees
Real estate fees in Canada are generally set at five to seven per cent of the sales price, and for many homeowners, the prospect of keeping an additional $10-15,000 in pocket is well-worth taking on the role of seller.
Selling property privately in the UK
Selling property privately has been frowned upon by the major UK property websites Propertyfinder.com recently removed all private sellers from their web sites in a move to pacify disgruntled British estate agents. Rightmove.co.uk the most popular UK property website and Primelocation.com both have policies refusing private sellers to advertise on their properties for sale.
Nicholas Marr CEO of Homesgofast.com sells property on behalf of private sellers and agents worldwide ‘ We are happy to see private sellers and agents properties on our website and believe this offers consumers greater choice in selling their homes. The ‘Ebay' culture’ to sell online naturally includes selling your home. We are not anti agent and work with hundreds of real estate agents and property developers world wide. I believe agents can provide specialised local information and advice especially when this comes to buying property overseas.’
Some of the most established UK private seller web sites include: