For you as a seller, we examine current market trends, carefully examine your home, recommend what action should be taken to make it more attractive to buyers, and deal with many other issues all to determine the best and realistic price for your property. Then, we try to sell it.

And we do all of this without getting paid. That’s right. No need to pay your Realtor until they’ve sold your property. Realtors are paid until you get paid.

Real estate agents generally get paid about 5-6% of the final sale price of a property if they are the one chosen to sell the property. In this case, the agent representing the property is called the “listing agent”.

So how does a Realtor get paid if they aren’t the listing agent and are helping you buy a property? Well, homebuyers are pretty lucky. They don’t have to give one penny to their agent. All commissions to the Realtors involved in the transaction are paid for by that 5-6% from the sale price of the property. It is typical that the real estate agent representing the homebuyer and the listing agent divide this 5-6% evenly.

Therefore, if a condo sells for $400,000, then commission at 5% would be $20,000. The listing agent and Realtor representing the buyer would each get $10,000.

Chad writes a column for the local Toronto Metro newspaper called Condo Q & A. The articles previously printed in the Metro News are reprinted below. Read on for great advice and tips on condos, lofts, and townhomes in Toronto!

Q:

I have seen a lot of real estate offices charging very low commissions for selling. Why is there such a wide range of commissions?— Joseph B., Toronto

A:

It is very simple - fees are based on services. There are several different types of commission structures available to homesellers, and it is very important that you read between the lines when you see something that seems too good to be true. There are almost 25,000 Realtors in the GTA, and they are all free to offer their services for any price they choose. It is possible to find a lawyer who will charge you $60 an hour or you could find a lawyer charging $600 per hour.It would be reasonable to assume the lawyer who charges $600 per hour may offer more services than the less-expensive lawyer. I am not suggesting you pay top dollar for everything you purchase, but there is some merit to the saying “you get what you pay for.”Most people who are selling their home are entrusting their Realtor with their single-largest asset, therefore you must do your homework and interview potential agents. Check their credentials and ask them for references; treat it as though you are conducting a job interview. Filling out the paperwork to list your home can take a matter of minutes, selling your home takes several days or weeks, so it is important that there is a clear and proven plan in place to get top dollar for your home.

Chad writes a column for the local Toronto Metro newspaper called Condo Q & A. The articles previously printed in the Metro News are reprinted below. Read on for great advice and tips on condos, lofts, and townhomes in Toronto!

Q:

Do I have to sign a buyer agency agreement when I am looking for a condo? Is there any benefit to signing this document? — Fred H., Toronto

A:

The Real Estate Council of Ontario requires realtors to disclose in writing the nature of the services they are providing. I always use a buyer agency agreement with my clients to ensure it is clearly understood what kind of representation they are receiving.I am often told by purchasers, “I don’t want to commit to you, call me when you see a great deal.” I always tell them the same thing: If I see a great deal, then I am obliged to call my own clients first and so is every other agent that has signed a buyer agency agreement with their client(s). The “great deals” and every other type of listing are almost always presented to clients that have made the choice to work with a realtor and sign a buyer agency agreement. As I have mentioned in previous columns, it is very important to do your homework before you choose a realtor; make sure you are working with one that you feel confident signing an agreement with.

Chad writes a column for the local Toronto Metro newspaper called Condo Q & A. The articles previously printed in the Metro News are reprinted below. Read on for great advice and tips on condos, lofts, and townhomes in Toronto!

Q:

I have been looking for a condo for a while, but every time I call about a property advertised in the paper it is already gone. How do I get to see these properties before they are already sold? — Steve C., Toronto

A:

Looking at ads is a good way to get an idea of what general price ranges are, but it is not an accurate barometer of what is going on in the market. You have to realize that when you are looking at ads in the newspaper or other media, you are seeing only a very small percentage of the actual listings, less than 5 per cent. If every home for sale was advertised in your favourite newspaper, then it would probably look more like a phonebook than a newspaper.A realtor who is a member of the Toronto Real Estate Board has access to nearly every listing available through a central computer database and will be able to show you all available condos. This gives you a distinct advantage over other buyers calling random listings. Another advantage is you will see new listings as they hit the market daily. Most print media has a deadline for advertising, therefore anything advertised as new may have already been on the market for a week or more.The best-priced listings do not stay on the market for very long; they sell quickly to buyers who see them first. Working with a realtor will increase chances of finding your dream condo.