Survey: 62 percent agree paying commission adversely affects net worth
A new study appears to indicate that homeowners are being extra cautious with their money when it comes to determining how they choose to sell.
According to a survey released by PropertyGuys.com, a website that helps people sell their homes without having to go through an agent, many Canadians feel that paying a realtor to help them sell their house is hurting their bottom line.
For instance, of the 730 Canadian homeowners polled, 62 percent agreed that paying a 5 percent commission hurt their personal net worth, and 82 percent were interested in learning more about selling their home for a flat fee rather than paying a realtor a commission.
"Pricey real estate agents have a vested interest in convincing people that selling their home is really hard," said Walter Melanson, director of partnerships for PropertyGuys.com. "However, it's a lot easier to sell a home than many people think, especially with the right approach."
By avoiding commissions, sellers have more money to put towards their new house. This can help them with their mortgage payments and allow them to protect their investment with additional home insurance. Home buyers can save more by shopping around for the most reasonable rates.