Until recently, listings were only available to sellers with the full suite of services traditionally provided by a Realtor. Recent changes now allow people to use a real estate agent only to get their property listed on MLS, while they handle all the other details.
The poll also showed that 45% of Canadians would now consider using a real estate lawyer and sell privately rather than using a real estate agent. Only 28% were even aware that changes had been made to the MLS system, however.
“What these findings show us is that there is an appetite among Canadians to conduct the sale of their home privately,” said Ray Leclair, vice president of TitlePLUS. “But buyers and sellers alike need to recognize the limitations of going it completely alone because the intricacies of the often perceived common transaction.”
Consulting with a real estate lawyer is one way to avoid issues with those intricacies, said Leclair.
He gave the example of the agreement of purchase and sale. Consumers who skip the real estate agent need to ensure the document is drafted to protect their interest and that it reflects what was agreed to between the buyer and seller.
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