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Looking to sell your house? Check the fine print before signing with a real estate agent

Writer's picture: Carla LouisseCarla Louisse


When selling a home in Canada, many homeowners overlook the importance of carefully reviewing the terms of their agreement with a real estate agent. Signing without understanding the fine print could lead to unexpected costs and challenges down the road. From commission rates to contract duration, sellers should be fully aware of what they are agreeing to before committing.


One key aspect to watch for is the agent's commission. The standard rate in Canada is usually around 5%, but this can vary. It’s essential to confirm whether the rate is negotiable and if the agent will split the commission with the buyer’s agent. Additionally, some contracts may include fees for extra services like staging or marketing, which can increase the overall cost of selling your home.


The length of the contract is another important factor. Some agreements bind homeowners to the agent for six months or longer, even if the seller becomes unhappy with the service. Sellers should check for any penalties or conditions for terminating the contract early and make sure they understand how the agent plans to market the property to ensure it's worth the commitment.


In the end, reading and understanding the details of your real estate agent agreement can save you from unexpected surprises. Consulting with a lawyer before signing can also help clarify any confusing clauses. Selling a home is a significant financial decision, and being informed will help you avoid unnecessary headaches.


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