Here is something to consider if you plan to
sell your home this year. Early indications
are that both listings and sales will be down
this year for Winnipeg’s real estate agents. Many
would-be buyers and sellers can be expected to sit on
the sidelines until it becomes clear what effect the
recession will have on this market.
So expect agents to be even more aggressive than
usual when dealing with ComFree clients. You will
be deluged by calls from agents who’ll tell you they
have someone who wants to buy your home now, if
only you’ll list with them, or that you have to be on
the MLS to sell, or that they can get you so much
more they’ll cover their own commission.
Experience suggests these claims should be viewed
with suspicion. For the agent with the ready-made
buyer, tell him you won’t sign a listing agreement,
but he’s welcome to bring his buyer around and
you’ll negotiate something if a sale ensues.
To the claims you have to be on the MLS or that
an agent will net you more than a private ComFree
sale, remember that price is what ultimately sells a
home. Paying a commission always makes it harder
for you to price your home to sell.
But every year, some ComFree clients switch to an
agent. Some sell and some don’t. But even those
who sell usually realize after the fact they would
have been better off lowering their price with
ComFree than listing on the MLS.
Every day, I drive by two homes that illustrate the
point. One is a new two-storey on Lindenwood Dr.
The owners listed with ComFree Oct 10 for
$379,900. By Nov. 27 the family had to move out of
town and listed with Re/Max for $389,900, lowered
later to $379,900. After two months on the MLS, the
listing expired unsold. No MLS magic there.
A nearby deluxe condo bungalow off Dovercourt
Dr. was listed with ComFee in April at $464,000. It
was overpriced and didn’t sell. On Sept 5, the owner
listed with an agent at $459,000, which dropped to
UNSOLD WITH AN AGENT
LINDENWOOD DR.
| Listed with ComFree |
Oct. 10/08 |
| List Price with ComFree: |
$379,900 |
| Listed with Re/Max: |
Nov. 27/08 |
| List Price with agent: |
$389,900 |
| Price Later Reduced to: |
$379,900 |
| Agent’s Listing Expired |
Jan. 30/09 |
DOVERCOURT DR.
| Listed with ComFree |
Apr. 30/08 |
| List Price with ComFree: |
$464,000 |
| First Listed with agent: |
Sept. 5/08 |
| List Price with agent: |
$459,000 |
| Price Reduced (Oct. 3) to: |
$449,000 |
| Price Reduced (Oct. 28) to: |
$429,000 |
| Listed with new agent: |
$429,900 |
Remains unsold
$449,000 before that listing expired. A new agent
listed it at $429,900, $34,000 less than it was priced
with ComFree. It still hasn’t sold.
If he were still with ComFree, the owner could
drop his price to $399,900, be no worse off than he
is now with the realtor and be better-priced to sell.
It’s price, not the MLS, that sells homes. The MLS
alone could not sell these two beauties.