Have The Rules Changed For Selling Your House?
The newly ratified agreement between the Canadian Real Estate Association (CREA) and the Canadian Competition Bureau (CCB) has already started making waves in the real estate world! Only recently ratified by CREA members on October 24, the agreement allows consumers to choose which services they want when engaging a real estate agent, instead of being forced pay for a full service / full commission deal. If you’re considering selling your house, this could be very interesting indeed!
The newly ratified agreement between the Canadian Real Estate Association (CREA) and the Canadian Competition Bureau (CCB) has already started making waves in the real estate world! Only recently ratified by CREA members on October 24, the agreement allows consumers to choose which services they want when engaging a real estate agent, instead of being forced pay for a full service / full commission deal. If you’re considering selling your house, this could be very interesting indeed!
So what does this mean exactly if you want to sell your house? Well, according to a recent Globe & Mail article, it’s come down to three main options for those who are selling:
Go with an agent: use the traditional method of getting an agent to do the work for you. In return, you pay them a commission – usually 5-6%, but that’s negotiable.
Pay a flat fee: for listing your house on the MLS (Multiple Listing Service). You still have to go through an agent, but all they do is list your house for a one-time fee – the rest is up to you.
For sale by owner (FSBO): do it yourself. These companies specialize in helping homeowners sell their homes themselves. There’s no MLS option, but they provide you with a marketing package to help sell your house – for a fee.
What’s the best option? That’s up to you. Keep in mind that with this new agreement in place, you can ask your agent about which services they’re willing to offer and at what price. The “all or nothing” days are gone, so it really depends on what you want. If you think you could get more money by selling your house yourself but want the MLS, you can get an agent to do that for you and all you pay is the flat fee for the listing (which differs from agent to agent). But if you feel that the best value for money still lies in going with a full service option, you can do that too! Or go for something in between by selecting and paying for various services.
Regardless of whichever route you take, one thing’s for sure – options for selling your house have suddenly become far more interesting! And you can ask questions and entertain all these options at Sundaybell!
Contact Information:
Sundaybell Inc.Toronto, Ontario, Canada
Toll Free: 1-855-786-3291
Email: info@sundaybell.com
Contact: Andrew Brest, VP Marketing
Cell: 905-978-2995
Email: andrew@sundaybell.com
Hours of operation: 8:30am-11pm daily
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