Insights
perspective matters
Self-Representation
Most Canadians possess the ability to Represent their own interests when buying a home. As of Dec 1st, 2023 it is legal across Canada in all provinces for a Home Buyer to be Self-Represented in a trade in real estate. In BC and ON the regulators as of Dec 1st, 2023 openly endorse Home Buyers choosing Self-Representation and are actively promoting the seeking of "professional advice" that is not connected with a real estate brokerage.
Maybe it's time for you to consider Self-Representation?
Self-Representation offers a substantial savings for any Home Buyer and a lower level of risk if the trade is managed with outside professional advice. Self-Representation can end the manipulation of the Home Buyer throughout the Agent-Representation process.
Self-Representation Cost Savings
(example the City of Toronto)
|
Agent-Represented
Seller Net = $943,500 Listing Representation = $28,250 Buying Representation = $28,250 Purchase Price = $1,000,000 Professional Advice = $2,000 Land Transfer Tax = $32,950 Buyer Net = $1,034,950 |
Self-Represented
Seller Net = $943,500 Listing Representation = $28,250 Buying Representation = $0 Purchase Price = $971,750 Professional Advice = $2,000 Land Transfer Tax = $31,820 Buyer Net = $1,005,570 |
Choosing Self-Representation saves the Home Buyer 3% of the Buyer Net immediately
with the Seller getting the exact same amount in their own pocket.
If we assume Mortgage Rates average 4% over the next 25 years
the 3% saved when buying equals a 4.75% savings at the time the mortgage is paid off.
If the 3% savings was invested in owning the Shares of the Bank that holds your mortgage
by the time your mortgage no longer exists
the savings would be expected to equal 15% of the Buyer Net using Agent-Representation.
Choosing Self-Representation as a Buyer in the example above
creates over $155,000 of additional wealth after 25 years
or equal to two years of after-tax income the Buyer was earning at the time of purchase.
The true cost of Agent-Representation for Buyers over the last 40 years has
exceeded 15% of the Purchase Price of a home
and equalled over two years of the after-tax income they were earning at the time of purchase.
It is worth TWO YEARS of your entire After-Tax Income by not putting yourself first?
Choosing Self-Representation with Professional Advice provides more benefits.
-The Buyer controls the Negotiation process not the Seller or the Agent
-The Buyer can totally avoid Bidding Wars or having their Bid used against them
-The Buyer controls the terms and process the Home is purchased under
-The Buyer limits the control of the Seller's Agent in the process
-The Buyer has the freedom to consider buying any home without the need to pay commissions
-The Buyer has freedom of choice
The best feature of Self-Representation is that the Buyer will never enter a Multiple Agency situation under Any circumstance and at all times have their own rights protected.
Choosing Self-Representation still provides
-Touring Listed Homes with the Listing Agent at any time
-full timely awareness of any and all homes they may be interested in viewing
-the full legal support of a lawyer pre and post purchase
-the same legally approved forms used by everyone
-the full support of a team of professionals while saving years of after-tax income by using them
-and more of course
The average Canadian has a level of education that allows them to navigate Self-Representation with some simple professional advice. The process of Buying a home is easy when a Buyer has the freedom to control the process themselves.
Agent-Representation requires that you follow a path and process created by others for the benefit of others and against your own best interests.
Maybe it's time you put yourself first with Self-Representation.
Is Two Years of After Tax Income worth it?
with the Seller getting the exact same amount in their own pocket.
If we assume Mortgage Rates average 4% over the next 25 years
the 3% saved when buying equals a 4.75% savings at the time the mortgage is paid off.
If the 3% savings was invested in owning the Shares of the Bank that holds your mortgage
by the time your mortgage no longer exists
the savings would be expected to equal 15% of the Buyer Net using Agent-Representation.
Choosing Self-Representation as a Buyer in the example above
creates over $155,000 of additional wealth after 25 years
or equal to two years of after-tax income the Buyer was earning at the time of purchase.
The true cost of Agent-Representation for Buyers over the last 40 years has
exceeded 15% of the Purchase Price of a home
and equalled over two years of the after-tax income they were earning at the time of purchase.
It is worth TWO YEARS of your entire After-Tax Income by not putting yourself first?
Choosing Self-Representation with Professional Advice provides more benefits.
-The Buyer controls the Negotiation process not the Seller or the Agent
-The Buyer can totally avoid Bidding Wars or having their Bid used against them
-The Buyer controls the terms and process the Home is purchased under
-The Buyer limits the control of the Seller's Agent in the process
-The Buyer has the freedom to consider buying any home without the need to pay commissions
-The Buyer has freedom of choice
The best feature of Self-Representation is that the Buyer will never enter a Multiple Agency situation under Any circumstance and at all times have their own rights protected.
Choosing Self-Representation still provides
-Touring Listed Homes with the Listing Agent at any time
-full timely awareness of any and all homes they may be interested in viewing
-the full legal support of a lawyer pre and post purchase
-the same legally approved forms used by everyone
-the full support of a team of professionals while saving years of after-tax income by using them
-and more of course
The average Canadian has a level of education that allows them to navigate Self-Representation with some simple professional advice. The process of Buying a home is easy when a Buyer has the freedom to control the process themselves.
Agent-Representation requires that you follow a path and process created by others for the benefit of others and against your own best interests.
Maybe it's time you put yourself first with Self-Representation.
Is Two Years of After Tax Income worth it?
or
