Are you really saving the commission?

Written by Yan Castonguay 21 September 2020

The current real estate market is unique. In the past twelve years, we have never seen a market providing so much advantage to one side or the other of a transaction and this time around, the seller controls almost everything. Why? The answer is simple, it's a question of supply and demand. The demand is extremely high and the supply simply minimal. Covid-19 made it so that many homeowners preferred to renovate than to leave their homes. The lockdown has given owners time that was priorly lacking to do renovations. So, these individuals, and there were many of them, got down to business and carried out their renovation project, thus bringing their house to their liking and postponing the sale of their property to a distant future. In addition, the government, forbidding visits last spring, encouraged several sellers to make the decision to postpone their plans to sell. All these factors came together to create a seller's market.

 

Vaudreuil-Soulanges is experiencing an incredible boom right now. In addition to the factors mentioned above, people are swaying to leave the big city and settle in the suburbs where services are increasing; and Vaudreuil-Soulanges is one of the most sought after. We did the exercise of looking at the sales that were made over a 5-day period and 70% of those were made at the asking price or higher. It is now normal to receive 3-4-5 offers and more on the same property as of the first days of listing.

 

Despite this situation, some sellers still surprise us by not wanting to take advantage of this fortune and opt to sell on their own ... thinking of saving a commission. In fact, the homes and condos that we have seen displayed on their own over the past few weeks not only have not saved at all, they have left thousands, if not tens of thousands of dollars on the table, after commission! Very few homeowners are equipped to create and manage a multiple offer situation and achieve the full potential of their sale. Not to mention that there are not many buyers willing to negotiate without a professional, leaving behind many buyers who could have made them an offer.

 

With the market being so strong, no seller can allow to leave so much money on the table. Meet a broker specializing in your sector, ideally meeting 2 or 3! Why? Because there are also brokers who could give you bad advice by not knowing enough about the sales in your sector, leaving thousands of dollars in potential offers on the table. Know that meeting a broker is free and without obligation. Taking 2 or 3 hours of your time to meet the professionals in your neighborhood could pay off big in this Covid-19 times!

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