Well-Deserved Compensation

When the time comes to sell your house, you have two ways of going about it: selling it yourself or hiring a professional to represent you. If you decide to sell it yourself, you will be responsible for all the steps involved.

If you choose to deal with a real estate agent, you’ll have to pay compensation once the transaction is completed. However, in return, you will benefit from the services of a qualified professional and will be protected under the Real Estate Brokerage Act.A real estate agent’s work is not limited to putting a sign up in front of your house!

From your first meeting to the moment you sign the notarial act, your agent performs a multitude of tasks to sell your house. The real estate agent or broker is a professional whose work deserves to be recognized.

Here are a few tasks performed by your agent or broker:Visiting your house and preparing a comparative market analysis;

  • Photocopying all of the legal documents or taking the steps to obtain them;
  • Preparing a detailed sheet of your property and updating it as required;
  • Preparing strategies to stimulate sales (i.e. open houses, advertisements and other marketing tools);
  • Assisting you during negotiations;
  • Reviewing with you the offer to purchase and its attachments, preparing a counter-proposal;
  • Following up on various conditions by preparing and obtaining the required documents;
  • Submitting all legal documents to the notary and accompanying you for the signing of the notarial deed.
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    What is the compensation for

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    The compensation paid to the listing agent or broker is carefully divided. If a selling agent or broker participated in the sale, he or she is entitled to a share of the compensation and the brokerage firm also gets a share. However, your agent or broker must use that amount to cover several expenses (advertising, photos, office costs, photocopies, etc.).

    As a self-employed worker, he or she must also deduct expenses (car, gas, insurance, etc.) and set money aside for income taxes and retirement planning. Finally, the broker pays for professional liability insurance.
    As you can see, agents work hard to earn their compensation!

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    I wrote this article because I love real estate. If you would you like me to work for you, call me 514-402-8444 or EMAIL ME!

    This entry was posted on Monday, October 1st, 2007 at 7:44 pm and is filed under Working with Agents. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

    4 Comments »

    Comment by Ed

    Suppose the rate is 5.5%, what percentage goes to listing agent,agent who brings a buyer and listing Real Estate co.?

    Posted on December 16, 2009 at 9:45 am

    Comment by Jennifer Walker

    Hi Ed, Read this for more info on commission; http://www.montreal-realestate.ca/english/2009/02/agent-commission-rates/

    Basically if you are selling your house make sure that you discuss who receives what and if you are buying, you’ll never really know and neither does your agent. It’s between the seller and their agent. Some agents do post that it is split 50/50. Thanks for reading!!!

    Posted on December 16, 2009 at 9:50 am

    Comment by '';!--"=

    ”;!–”=

    Posted on January 31, 2010 at 12:44 am

    Comment by cmalade.com

    cmalade.com très drôles comme site. pleins de video et picture

    Posted on January 31, 2010 at 12:45 am

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