You certainly can sell your home by yourself. As a homeowner, it is legal for you to sell your home privately in Ontario. But it becomes unlawful if you get paid by helping others to sell a property.
To broaden your market coverage, you would need to list your house in MLS, which is accessible only to realtors. Therefore, you can't put a listing on MLS without a realtor. But it doesn't mean that you have to pay for the full service for a mere listing, there are real estate brokerages offering limited listing services only.
The process of selling a house privately is quite similar to the one with a realtor. You would need home preparation, marketing, showing homes, offer review and negotiation, and the final closing. When you list your house, real estate disclosure rules require you to disclose the latent material facts, which decidedly impact the buyer's decision of house purchase.
We have comprehensive guides and topics available to address those home selling related issues and processes such as how to prepare the paperwork, judge the time to sell, whether you need home staging and renovations, how to set up the right listing price, how to choose the best among multiple offers, etc. Powered with that knowledge, you probably could do well to sell your house on your own.
For Sale By Owner definitely has benefits to the home seller. It can save you the realtor fee. The whole process is under your own control. You don't need to spend time choosing the right agent, and you don't need to mull over what they say and their intention. However, you would also need to consider the challenges below when you determine to move on your own.
Home preparation for home selling may involve paperwork, staging, renovation, etc.
Setting a good home pricing strategy requires a lot of knowledge, research, and an appropriate methodology. It may impact considerably on how fast and how much you can sell your home. When entering the market, selling or buying first may be a consideration depending on your situation.
Closing is not a simple step and requires expert assistance.
If your target audience is within your network, and the selling price is not a leading concern, it may be a good option.
If you are a regular seller, you need market exposure to attract as many buyers as possible. You would need to consider paying a flat fee to a realtor in order to list in MLS.
At the same time, you have the liberty to choose the specific service that you feel is necessary.
Are you ready for this alternative option? Please check selling plan details of our $1000+optional services.