In: Real Estate News7 Sep 2011
For sale by owner is the process of selling a home without using a real estate agent. In the private sales process, Sellers work to find a buyer for their home by marketing their own property. Home owners selling their own home because they want to take more control of the process and save thousands of dollars in real estate commissions.
PropertySold.ca is Canada’s premier For Sale By Owner website. Since 2004, we have been helping Canadians sell their own home. Our recent poll of the top for sale by owner cities in Ontario has revealed the best cities for home owners to sell their home privately. Here are our rankings.
Congrats to Brampton! Located West of Toronto, Brampton is a great place to sell a home without a real estate agent. Brampton has thousands of new real estate listings every month. For Sale By Owners are able to take advantage of a very active real estate market. Because of the high number of new homes, Brampton is a great city in which to buy and sell new homes. Many private sellers buy new homes off of builders/developers and then sell the homes without agent, taking advantage of the increase in the home price, in addition to saving real estate commissions.
Yes, we know that they are two different cities. But for the purposes of our For Sale By Owner Poll, we combined the two cities into one area. Despite still not having a NHL hockey team, KW finished 2nd in our poll of the most popular cities in which to sell a home privately. The popularity of selling without an agent in Kitchener-Waterloo could be due to the culture. People in KW are simply more friendly and open to buying and selling without an agent. Perhaps people in KW are just smarter?
Mississauga has a similar demographic make-up as Brampton. Many new homes built in a suburb of Toronto. Finishing 3rd in our poll, Mississauga is a great place to sell a home privately. Home sellers in Mississauga specifically enjoy the option to sell privately and list their home on MLS.ca/Realtor.ca. The high home prices and active real estate market make Mississauga an ideal place to save money when selling a home.
London is located on the 401, approximately 2 hours from Toronto. London seems to a micro-economy that appears to function on it’s own. No one really commuted from London to another city to work. People typically live and work in London. People who live in London tend to cheer for the London Nights and support their local environment. Western University is located in London. This leads to many rental homes. Home prices in London are also less expensive compared to other similar larger cities like KW and Ottawa. The friendly, largely uniform, demographic, is very pro-FSBO. It can be very easy to sell a home privately in London if you have a good price and a quality home.
Ottawa has a large population of government workers. These jobs might not be extraordinary high-paying, but they are stable, with a good pension, and a fair wage. This leads to a stable housing market. Ottawa does not have large price swings in the average home price. As long as the government keeps employing people in Ottawa, FSBO will thrive in this city. The bilingual language spoke by most people in Ottawa does not seem to impede buyers and sellers communicating and selling their homes without agents. Even a simple “home depot” FSBO sign will get inquires in Ottawa. PropertySold.ca has great packages that include a MLS listing through our partner brokerage. Ottawa is a popular city for PropertySold.ca
Mill Pond, Yonge and Major Mac, New homes at Carrville and Bathurst or even million dollar homes at Bayview and 16ths, Richmond Hill is a great place to sell privately. It’s a high demand area. Because so many people want to live in Richmond Hill, it makes it a place where a home owner can sell without an agent quickly. Richmond hill might even have the Yonge Subway extension coming soon. Hwy 7 and Yonge is scheduled to be a high density area with condos and commercial/office space. Condos are beginning to become popular housing styles for FSBO buyers and sellers. The new Tridel and Greenpark condos built on Yonge Street are just two examples of the new condos being built in Richmond Hill
Barrie could be considered a commuter city. Many people take the GO Train from Barrie to Toronto. Many new homes have been built in Barrie over the past 10 years. This makes it a popular city for selling “for sale by owner”. There are many York Region employees who live in Barrie. People with solid jobs and a good education typically consider the importance of saving home equity when selling. They often decide that it’s better to try to sell a home without an agent and save money.
Toronto finished 8th on our poll. While not the most popular place to sell private, Toronto would most likely finish #1 if we ranked cities on Volume of homes sold privately. More homes are sold in Toronto than any other city in Canada. Toronto is the 2nd most expensive city in Canada. High home values means high real estate commissions. Who wouldn’t want to save $25,000 when they sell their home? $25,000 is the traditional commission on a $500,000 home. Toronto is divided up into Scarborough, North York, Etobicoke, and Down Town. Any of these cities might rank by their own on our list of popular cities to sell a home without an agent.
Oshawa is the most populated city in Durham. It’s located on the far East end of Durham. Also considered a commuter city, Oshawa is home to a GM plant. People move to Oshawa for the relatively low home prices. Even though home prices are lower in Oshawa, sellers still want to save money when they sell. Oshawa is a popular place for selling privately.
Cottage country! Million dollar cottages within a 1.5 hour drive of Toronto. Paradise! Lake Muskoka, Lake Joseph, Six Mile lake, Lake Rosseau…There are lots of cottages for sale by owner. Perhaps because the cottages are worth so much money, or perhaps because the going commission rate is close to 7% for cottages. Whatever reason, selling a cottage privately is popular. Because the properties are typically not primary residences, owners can take their time selling their cottage. They don’t need to enlist a real estate agent, if they are not in a hurry. Plus cottage owners know more about their property and their lake. Cottage owners are very fond of advertising their property on 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 »
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