In Canada, real estate services are primarily covered for the buyer and are paid for by the seller.
That said, there are some exceptions, such as exclusive listings not published publicly on MLS, or in situations where the owner has chosen to sell the home themselves. These types of listings may have unique conditions.
Generally, commision is 5% of the sale price, usually paid by the seller. That said, commision can sometimes vary as there are not regulations that fix commision amounts. Instead, commission is determined by market forces, supply and demand.
The commision compensates both the seller and buyer sales representatives, meaning each party will receive 2.5%. The 2.5% is then split between each sales representatives and the brokerages they work for.
Realtor.ca is operated and managed by The Canadian Real Estate Association and uses MLS, the primary database for real estate information. Realtor.ca provides the most complete, up-to-date and accurate listings.
Before looking, you should contact your mortgage broker or financial institution and find out the amount you are pre-approved for. Once this step is complete, contact a real estate agent to learn about next steps. Real Estate Services are often paid by the seller, meaning that as a buyer, you receive complementary guidance through the entire real estate transaction process.
We offer end-to-end buying services. Once you're pre-approved, reach out to have a chat or grab a coffee.
First step is to reach out to a real estate representative and inquire about a market appraisal.
We offer complete end-to-end selling services; from appraisals, to marketing, to showings, to final negotiations and contracts. If you're serious about selling, we'd love to hear from you.
Give us a all at 416-834-2217 and we'd be happy to send you more information and grab a coffee.