What are the realtors charging as commission isit a lump sum amount or is percentages of the slab.

How much would a seller have to pay to a realtor to sell a 400,000 $ house.

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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership

Hi Loser,
Normally it is a percentage of the sale price but it could be lump sum amount too. Here is a link which will give you some insight about the Realtor's commission.
http://www.thegtahomes.com/wNewsDetails.asp?id=45878

Presently I am running a promotion: 'Super Saver 1' which is valid only for limited time period. If you want to discuss more, you can either call me at 416-409-8291 or e-mail at smanocha at remax.net.

All the best!!

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Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)

Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto

Mobile: 416-843-7600
Office: 416-745-2300
http://www.manocharealty.com" rel="nofollow">LINK

Home selling fees/ real estate commission:

When selling your property, the real estate brokerages charge fees from the seller. This can be either a percentage (negotiable; normally 5%-6% plus GST) of sold price of property or a lump sum amount. The listing brokerage then forwards a portion of this fee to the buyer's brokerage (normally 2.5%-3%) and retains the balance amount.

In my opinion, before sellers hire a salesperson they should first find out the following:

1. What is the track record and experience of the Realtor who is selling your home?

2. What services are being undertaken to effectively market your property?

3. How much more and how quickly your home can sell for?

4. Things that can be done to your property to increase nett dollars in your pockets?

Often a good salesperson can get you a lot more for your home, thus justifying the marketing fees without reducing real estate commission by some points (e.g. a discount of 1% on $400,000 = $4000, where as a good professional may get you a lot more than the above amount and also sell your home faster).

Having said that many Realtors are reasonable with their real estate commission plan and may reduce some points, based on your circumstances and needs.

The bottom line: By choosing the RIGHT salesperson you can expect better professional service, faster sales, prompt feedback, top dollars and overall satisfaction.

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

Hi,


1. Should the buyer too pay commission to the realtors and if so how much.

2. We are first time home buyers and wanted to know areas in brampton which are 8 to 10 yrs old construction.

Thanks
MSH

NO, buyers normally don't pay any commission when buying a home in Ontario. They might pay some commission (chances are remote) ONLY if the buyer brokerage does not get paid by the seller/ listing brokerage.

The only other cost that you would incure to buy a home in Ontario will be home buying expenses of approx 2% of home buying price (includes lawyer fees, land transfer taxes, home inspection, mortgage application fee, title insurance etc.) plus mortgage insurance fee (applicable only if you are making a downpayment of less that 20% of home price). This mortgage insurance fee can also be added to your mortgage loan.

Break down of home buying cost can be seen here: http://www.realestate-ontario.com/homebuyingexpenses.htm

You are welcome to come and attend home buying session at my office or contact any other Realtor you feel comfortable with and learn all about home buying. These are free sessions and with no obligation.

Best Regards,

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

Hi Loser & MSH,

Amit has explained the overview of the fee structure and its distribution. Each agent is to some extent free to set his/her own commisssions based on the quality of work they perform and other value added services they include to sell your home.

While deciding on who to hire for selling your home, don't base your decision on the commission alone. There is nothing worse than listing you home for sale for lowest commission and not being able to sell it. A buyer is oblivious to SELLER's portion of commission. Therefore if the home stays on the market for long, buyers will percieve you home to be either over-priced or lacking in something. When listing again with another agent, you may end up actually paying more in commission next time, besides the aggravation and extra interest on the mortgage you may have to pay for few extra months.

In short, \"cheap\" is not necessarily the cheapest, \"expensive\" is not always the \"best\", \"tailored to your needs\" is what you should be looking for.

MSH,

Amit has already answered to part 1 of your question that as a Buyer you won't have to pay any commission in most circumstances barring one where your agent is not reimbursed for his services by the Seller.

CMHC has just made life of 1st time buyers (and others too who do not have 25% down payment) slightly less expensive to get into a home of their own.

There are several areas in Brampton that are between 8-10 years old. Most of these are North of Bovaird and the East and West side of Hwy 410. There are limited number of homes in your age-range near Hwy 407 and McLaughlin as well. Having lived in Brampton for 11-years, while I can describe most areas are nice, there are a few areas that you should avoid. Brampton is the 1st city in the GTA on the West where best growth rates been projected...others being far flung areas...Kitchner/Cambridge/London...

You can call me anytime or email me for more information on Brampton and buying tips.

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK

Dear CD's,
Today I met a family in my church. They are relocating to Vancouver (for job) and want to sell their house in Brampton (preferably by this month end). They just bought the house 1 year back and hence it has not appriciated much. They did not want to give 5% comission for selling and so they asked my help, if i could find them a broker who charges 1% comission ( 1% + 1% for 2 brokers and hence 2% total). Since i saw some advertisement in Desi newspapers that some brokers accept 1% as comission, I told them that some accept 2% (1% +1%).
Can any CD's or Real estate agent tell me how to find a broker who accepts 1% + 1% as comission? I will forward that information to them and also it will be helpful to other CD's to know that there is a 1% + 1% option.
Thanks
TK A

Sidenote : Another point is that, this family has already signed with another broker for a 5% comission (2 1/2% + 2 1/2%). Any idea as to when they can come out of the contract. They did not read the fine prints before signing the contract

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