|
REALTORS® who belong to the Saint John Real Estate Board can use the Multiple Listing Service (MLS)® to access any MLS® property listed for sale by any other REALTOR®. There is, however, no such single system to provide access to properties that are for sale privately.
 Although the public website www.realtor.ca gets over 4 million unique hits per month, buyers sometimes check local classified ads or private websites to find properties listed for sale privately by owner. But even if the property looks promising, resist the urge to call the seller directly, and call your REALTOR® instead. Why? Even home buyers who have bought or sold more than one property are unprepared to proceed with the complexities of a real estate transaction without professional assistance. Even if the buyer seems to know what he or she is doing, odds are that the seller may not. Without professional involvement, buyers and sellers are far more likely to be faced with no clear understanding of which party pays which expenses, how to address home inspection repair issues, the risk of a closing that falls apart at the last minute, and the potential for a long and very costly lawsuit. As a buyer, you can alert your REALTOR® about a promising-looking property that is privately for sale, and your REALTOR® can then contact the owner to ask about showing the house to a qualified buyer. The REALTOR® can ask the private seller up-front if they would be willing to pay a small, privately-negotiated commission for payment of his or her professional services in managing the details of the transaction. For buyers, the REALTOR'S® role and involvement is invaluable: the REALTOR® can help compare the private sale to other properties the buyers have seen, verify room and house measurements, inspect the property for obvious defects, arrange for an inspection by a qualified expert, provide professional negotiation skills on a fair price, and complete all the necessary paperwork in a professional and legally sound manner. Of course, the private seller isn't always agreeable. Keep in mind that some home owners who try to sell privately fail to realize how much they do not know about selling real estate. They may think they know everything necessary to handle a complex real estate transaction, and believe that the REALTOR® is merely in the way. Proceed with caution. Missing out on a great house that is owned by unreasonable sellers is far better than spending months--and thousands of dollars--on litigation later. For more information about the Saint John real estate market, contact a professional: your friendly neighbourhood REALTOR®! Visit www.sjrealestateboard.ca to find one near you! |
