Toronto real estate market is one of the hottest in North America. When we speak of Toronto it includes The Greater Toronto Area encompassing Mississauga, Toronto, Oakville, Burlington and Milton. For any home owner when it is time to sell the amount of stress and worries just keep piling up. A major concern, typically, is the cost of selling a home.
Of course, hot real estate market means more and more Realtors joining the industry which translates to an intense competition for your business.
Increased competition means more value for your Dollar, but unfortunately many home owners can not take advantage of this and simply gives into paying a high commission fees to a Realtor who do nothing exceptional or magical to turn your home to a sack of money.
The process of selling a home by a real estate agent is very typical and straight forward which includes agreeing on a listing (asking) price, completing the paperwork, preparing the home for showing, producing marketing material such as photography, brochures, virtual tour, MLS listing, online advertising, signage and more.
Knowing that above list of activities are pretty much common in a listing/selling process; why some sellers automatically agree to pay 5% from the sale of their home while others negotiate for a better rate?
The fact of the matter is that everyone wants to pay less but some just get caught in the brand-brainwash and others simply do not know that they can negotiate with the agent for a better rate.
So next time when you are thinking of listing your home; make sure you interview, at least, three agents and discuss in detail all their services and the commission fee you will be paying. Avoid a very long term contract so that in the event you are not getting the service you were promised you can hire someone else to sell your home.
Also remember to avoid hiring an agent from out of town. An out of town agent is not willing to travel long distance to show your home, he/she is not familiar with the area so he will not be the perfect sales person for your home.