The simple answer is no. The reality is you are not required to have a realtor help sell your house. You can set the price, coordinate showings, answer all incoming questions, negotiate offers, provide all legal disclosures to avoid “real estate jail”, and facilitate the closing by yourself. That being said, only 2% of all listings by For Sale By Owners actually sell. The reason for this is that you get either of two extremes: Either you sell your home for under market value, or you overprice and lose potential buyers. One results in lost profits, the other in the home sitting on the market for a long long time leading to frustration. Over 95% of successful sales have one thing in common, however: a knowledgeable realtor with the expertise to help save time and assess value. 

Before you go looking at homes or getting any real estate agent lined up, knowing how much you can afford to spend on a home is the best way to make sure you avoid headaches later on. The first step is speaking with a mortgage broker or your bank and getting pre-approved for a mortgage. Pre-approved mortgages are typically held with a set rate for 120 days, although this can vary from lender to lender. Once you’ve been pre-approved, you will want to write a list of your top needs (things you cannot live without, deal breakers, etc.). Once you have these two tasks completed, your next step is to select the right realtor for you.

Ok, so you have some land. Now what? Chances are you have some idea of what type of housing product could be built on your property, but even if you don’t that’s okay. Before any piece of land can be developed, built out, and then turned for a profit you need to have a keen understanding of the local area, the market, growth, zoning restrictions, nearby amenities,schools, and infrastructure at the very least. Odds are that, unless you have experience developing land, the time and resources available to you to conduct an analysis like this is likely limited and may end up leading you around in circles. By working with a seasoned expert,having worked with developers and builders alike, you can bypass all the headaches, get a true understanding of your property and ultimately get the true residual value of your property.

There are many different factors that result in the sale. Generally, there are a few key reasons why a home doesn’t sell and talking openly with your real estate agent can aid in understanding what factors you have control over. 

The real estate market in Greater Vancouver is seasonal, with a decrease in activity starting in November and staying slow until early February. Typically the market begins to pick up during the spring, which starts in early March. Although this is typical, it may or may not fit your needs depending on the type of home you own. Depending on the type of property you have, the timing and strategy will need to be discussed with a seasoned realtor.