Fees based on services
Tuesday, October 16th, 2007Chad 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.
