Common questions
Real estate commission in Ontario
Commission is the question sellers most want answered and least often get a straight reply to. Here's how it actually works in Ontario, including what a lower rate can and can't buy you.
- Why do I need a real estate agent?
Experience Real estate Agents bring market knowledge that can help you get the best price for your property. He/She has networks and platforms that can expose your property to a larger audience.Agents are trained negotiators who can secure favorable terms for you. Agents handle all the legwork, from listing your property to handling paperwork, saving you time and stress. Though there's a commission fee, the value an agent brings could outweigh the costs, making it a more cost-effective choice in the long run. Check out our video blog to learn more.
Watch the video explainer- What are the risk involved in not using experience and trained Real estate agent?
Without the expertise of a top agent, your house might sell for less than its potential market value. There will be limited exposure to potential buyers. Lacking professional negotiation skills could result in unfavorable terms and conditions in big $ value transaction. The commission discount can be misleading as both the listing and buyer's agents are involved in the commission process
- Why do I pay full commission when there are multiple commission discount real estate agents in the market to sell my property?
There is old saying " You get what you pay for" fit well here. If someone is paid less , what effort and energy they will put in to get you the best offer. Upfront it feels that you will save some commission at the time of sale, but is it really worth in long run? Question you should asks are How much effort a discounted real estate agent will out compared to full commission real estate agent? What about after sale service and support? What tools and technology they will use to showcase your property other than MLS? Do they have any drive to negotiate in your favour or are they just ready to close your deal and move on to the next, because anyway they are not getting full commission? Are they educating you, preping you or advising you at each step? Are they prompt to offers recieved? How is there responsiveness to buyer's agents and you? Will it reach to the right audience who can pay the real value of the house? Do you know commission discount is only offered on seller commission side while Buyer agent will get full commission for his effort? What kind of support and training discounted agent getting from their brokerage to make it a smooth transaction for you? Less commission equals less service = less reach= less education + advise = less sold price.
- Should I buy house without my own real estate agent and make a deal with seller's agent?
You can certainly buy a house on the market without having your own real estate agent. But, you don't need to. Buyer doesn't pay comission, it the seller who do. Having your own realtor is a piece of mind for you. Your agent will work in your favour as per our needs and would be able to guide you to make better decision as per current market. He/She can negotiate professionaly on your behalf without disclosing your financial status or situation to seller's agent and better manage offers in competition and other paper work. He/she will be able to guide in inspection, location, demograhics, layouts etc. which you may won't be able to check yourself. Also, can show you more listing in your budget and needs.
