For sale by owner is alive and well in Ontario. More and more people are selling their home by themselves (many are also being listed on MLS). Let’s look at the history of For Sale By Owner and some of the top cities for private sales.
For sale by owner has always existed in Ontario. The Real Estate Council of Ontario administers the Real Estate and Business Brokers Act. In the Act, it clearly states that an owner in Ontario has the right to sell their own home. Before the internet, private sellers relied on signs, newspaper ads, and word of mouth. The big FSBO company during this time was called Pear Tree. Pear Tree was a home marketing company that had a magazine and signs.
The explosive growth of the internet in 2000′s led to a change in For Sale By Owner advertising. Realtor.ca was becoming the most popular real estate website in Canada and buyers and sellers were becoming more comfortable with shopping for their next home online. Companies that still relied on newspaper ads faded. The internet resulted in many For Sale By Owner companies being started. Some were franchises, some were websites created by one person with only one employee.
PropertySold.ca was started in 2004. We know from day one that if you wanted to be a successful For Sale By Owner website, you needed to be the 1st search result on Google, Yahoo, and MSN. Along with being the 1st real estate website on search engines, we also provided excellent customer service and professional real estate signs. Because our website receives thousands of website visitors a day, we have a great success rate for sold homes. The more homes that sold, the more people used our website. We are now the growing by leaps and bounds. The volume of our new listings is even getting hard to keep up with!
In Ontario some types of properties are more popular for private sales. Typically detached and semi-detached homes for sale in the suburbs of Toronto and Ottawa are popular for FSBO sales. Condo sales are popular in downtown Toronto.
Cities like London, Ontario and Kitchener also have a great record for private sales. People in these cities are open to the idea of buying and selling without an agent. The popularity in Kitchener also spills over to Cambridge and Guelph. In Toronto cities with a lot of new homes, like Brampton and Mississauga, can be more popular than established areas like Etobicoke. But this is mainly because new home buyers do not have the equity built up into their homes and can not afford to use a real estate agent. For example, sometime when people buy a home for $200,000 and sell 20 years later for $500,000, they don’t mind paying an agent $25,000. But when someone buys a new home for $450,000 and needs sell for $500,000 just to cover HST, legal, and real estate fees, then they are more likely not to use an agent.
Whatever city that you live in, Ontario has a great environment for selling with or without an agent. All it takes is a good home, at a fair price, and to be on the best website…PropertySold.ca!
For all of your real estate questions please call PropertySold.ca Inc. today at:
1-855-900-SOLD and speak to a customer service representative. We have licensed real estate professionals on staff ready to take your call right now. List your property for sale by owner today. New! We now accept real estate listings from real estate agents and new home builders & developers. More Information »
Real estate news in Canada including buy and sell information, local market updates, guides, tips for Canadians in the real estate market.