Hey Guys,
Planning to sell my downtown condo in Montreal, market value is 420k, with a 2% + 2% commission rate, and commission fees for realtors would be 16800$ + taxes.
usually, to avoid the high commission fees, sellers could use online listing services like https://duproprio.com/en for a service fee of 1800$. Without the realtors' high commission fees, sellers could lower their market price, thus facilitating transactions, it's a win-win for both seller and buyer.
unfortunately, in reality, realtors control demands by controlling the pool of buyers. all commission fees come from sellers, and buyers pay nothing during the process, thus makes sense for buyers to use a realtor since it's risk-free. buyer's realtor has no incentives to bring the client to view any properties without sellers' realtors, if a seller doesn't use a realtor, buyers' realtors cannot get commissions.
personally, I don't see realtors providing much value for the high commission fees paid by the sellers, real estate market is defined by the central bank's interest rate policies, with interest rates at decades high, it's a buyer's market for sure, but realtors control the market so sellers really don't have a choice.
if an agent is a must, what are the essential criteria in selecting a realtor? I personally think it's the client pool or connections, some realtors have a large client pool, some realtors work for a large agency that has lots of internal connections.
Planning to sell my downtown condo in Montreal, market value is 420k, with a 2% + 2% commission rate, and commission fees for realtors would be 16800$ + taxes.
usually, to avoid the high commission fees, sellers could use online listing services like https://duproprio.com/en for a service fee of 1800$. Without the realtors' high commission fees, sellers could lower their market price, thus facilitating transactions, it's a win-win for both seller and buyer.
unfortunately, in reality, realtors control demands by controlling the pool of buyers. all commission fees come from sellers, and buyers pay nothing during the process, thus makes sense for buyers to use a realtor since it's risk-free. buyer's realtor has no incentives to bring the client to view any properties without sellers' realtors, if a seller doesn't use a realtor, buyers' realtors cannot get commissions.
personally, I don't see realtors providing much value for the high commission fees paid by the sellers, real estate market is defined by the central bank's interest rate policies, with interest rates at decades high, it's a buyer's market for sure, but realtors control the market so sellers really don't have a choice.
if an agent is a must, what are the essential criteria in selecting a realtor? I personally think it's the client pool or connections, some realtors have a large client pool, some realtors work for a large agency that has lots of internal connections.
