As the number of properties available for sale remains low in the province of Quebec, you may be wondering if it would be smarter to sell your home on your own and avoid paying a commission to a real estate broker. You might assume that under current market circumstances, rising buyer demand during the spring market will result in a fast turnaround of offers, making for an easy sale without additional help from a professional.
Before making this important decision, review this comprehensive list outlining the advantages of using the services of a real estate broker:
1. In-depth and updated skills
Real estate brokers in Quebec are required to constantly upgrade their knowledge and skills through the continuing education program of the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ). Therefore, they are continually expanding their knowledge of the industry.
2. Extensive market knowledge and access to statistics
Brokers are in daily contact with other real estate market observers, and have access to comprehensive pricing and sales data. With this wealth of knowledge, they have the right information to guide you in determining the ideal selling price for your home, and can provide you with a detailed analysis of recent sales in your area. However, access to data alone is not enough. Real estate brokers have the expertise to analyze figures and draw conclusions to make informed decisions about selling your home.
3. Support at each stage
For most people, selling their home is a momentous event and a key stage in their life that requires support at every step. A real estate broker’s job includes explaining all of the legal documentation to be completed during the sales process, from the seller’s declaration, to the clauses of the promise to purchase, and the notarized deed of sale. Your broker will give you advice from start to finish, and coordinate all aspects of the selling process.
4. A superior marketing strategy for superior visibility
In addition to exposure to more than 14,000 real estate professionals across the province, Quebec brokers have access to a multitude of marketing tools to thoroughly promote your listing. Your property can be featured on a variety of web platforms, including centris.ca, royallepage.ca, the local real estate agency’s website and the real estate broker’s professional website, in addition to social media platforms.
5. Easy management of viewings
Managing property viewings can take up a lot of time and energy, but thankfully this task is taken care of when hiring a professional, as this service is included in your agreement.
6. Use of approved legal documentation
Forms related to the sale of your property are governed by the OACIQ so as to avoid any ambiguity between the parties, and give you peace of mind. Your broker will thoroughly understand the documentation, and is required to use the most current version of all forms.
7. Additional resources available to you
When you do business with a real estate broker, you also do business with other reputable industry services and your broker’s agency manager. Your broker can also support you through an extensive network of professionals, such as building inspectors, notaries, land surveyors and home stagers, who can help to ensure that everything runs smoothly during the selling process.
8. Expertise at every step of the transaction
The broker’s role in the sale of a property is to guide the various parties involved in the transaction throughout the process. From establishing market value, to developing a marketing strategy, to managing offers, your real estate broker will ensure that you understand each step of the transaction and that all documentation is filed according to industry standards.
9. Negotiation skills
Negotiation is an integral part of a broker’s daily work. Their mission is to represent you and promote your interests, not only by trying to obtain the best price for your property, but by negotiating the best overall result for the sale of your home.
10. Laws and regulations governing the profession
By hiring a real estate broker, you are covered by various policies that are meant to protect you in your transaction, such as those under the Real Estate Brokerage Act. If you suspect that a fault has been committed, you could use the Real Estate Indemnity Fund (FICI) or the Fonds d’assurance professionnelle du courtage immobilier du Québec (FARCIQ) to report any wrongdoings. On the other hand, when managing your sales transaction alone, your protections and recourse will be limited, and you will bear full responsibility for the transaction.
11. An insurance program to avoid unpleasant surprise
Did you know that Royal LePage offers a comprehensive insurance program to support sellers and buyers in the province of Quebec? In the event of the discovery of a latent defect, a transaction delay or the discontinuance of one of the parties, as well as a special assessment required from a syndicate of co-owners, Royal LePage is there to help. Protection Royale also offers free legal assistance for one year after the deed of sale. You can find a participating Royal LePage broker here.
12. More time and money… for you
The belief that selling your home on your own will save you money is a myth. With a broker who can determine the fair market value of your property, your home is more likely to sell quickly and at a better price. Beyond the sale price, the broker’s role involves ensuring that your property is sold under the best possible conditions, which may include negotiating the closing date that is suitable for you, as well as inclusions and exclusions, and finding qualified potential buyers.
13. The commission is only paid at the notary’s
A broker is not compensated until the transaction is completed and notarized. This means that in the event your property takes longer than expected to sell, the expenses incurred during the process such as taking photos, managing visits and other marketing expenses will be the responsibility of your broker up until your home is sold.
14. A hassle-free transaction
The value of a real estate broker today goes far beyond posting your property on the internet. The broker plays a crucial role in assisting when things do not go as planned. For example, your broker will ensure that once the promise to purchase is accepted, all the conditions of the offer (financing, analyses or work, inspection or repairs, etc.) are completed within the prescribed time frame.
Thinking of selling your home? Contact a Royal LePage professional today!
