Heather Wright - Editorial Team, Property Wire Canada

Canadians are increasingly growing an appetite for doing things themselves- whether to save money or be self-sufficient. The world is evolving in such a way as to make it easier for Canadians to take matters into their own hands; there is software to do your taxes; online tools for travel arrangements and even online shopping, and the list of self-serve products and services grows. One place that this hands-on management is extremely prevalent in Canada is in the Real Estate Industry. Changes to the MLS mean that, in theory, the business of selling houses is wide open. But just because you can do it all alone, does it mean you should?
Picture this: Youre at a networking event feeling mildly uncomfortable to begin with, but ready to put your best foot forward, when out of nowhere the fast-talking-hard-sell guy assaults you. You know the type. The fast-talking-hard-sell guy is the kind of networker who seems to barely notice you as he launches into his spiel about his latest open house or mortgage rates or who knows what. Been there, done that. ...
Selling a home is more than marketing and salesmanship. There is documentation, contracts, transferring of property and funds- all of which require singular interests to be sought out and protected. Typically, knowledge is power, but in this instance, is it really empowerment, or a dangerous case of a little bit of knowledge where a lot of expertise is ultimately required? Like any major undertaking, perhaps the greatest risks are the ones you don?t know about. The business of selling and buying properties is no place to rush in blindly.
Ready willing and able, but capable?
Lending credence to the suggestion that Canadian consumers may possess more enthusiasm than expertise as they decide to sell their own homes, a poll recently conducted by TitlePLUS/LawPRO suggests that an overwhelming majority (97%) of those Canadians who chose to sell or buy their own homes were aware of MLS, how it worked- and ultimately, probably of the tremendous value of the tool from a marketing standpoint. But shockingly, a minute portion of that same group- only 11%- were able to translate what the changes to the MLS meant to the process of selling or buying a home privately. And perhaps most telling of all, 45% indicated that they would ?now consider using a real estate lawyer and selling privately rather than using a real estate agent. What these findings show us is that there is an appetite among Canadians to conduct the sale of their home privately, says Ray Leclair, vice-president, TitlePLUS. But buyers and sellers alike need to recognize the limitations of going it completely alone because of the intricacies of the often perceived common transaction. Consulting with a real estate lawyer early on in the process can ensure that consumers interests are protected and that they are armed with the most up-to-date information available.