your neighbourhood’s market to gain buyer inquiries, which means your agent will be working from all sides of the deal to sell your house faster and with more incentive. · Your agent works with corporate relocation buyers who need to find a house quickly, and they will ensure it’s your house that is bought. There are also cons for the seller when it comes to dual agency, and they are: · You can’t be advised by your agent as thoroughly when they must act as a dual agent because impartial facilitation is required. · Your listing agent is not allowed to negotiate the best or highest price for you if they also negotiate the best and lowest terms for the buyer. · Earning a full commission, if the opportunity arises, may tempt the agent to coerce a deal that you might not accept otherwise. · Your agent may inhibit all access to your listing for buyers with agents. To avoid surprises or missteps in a dual agency sale, ensure you have clarified essential details with your agent beforehand. You can use an exclusive buyer agency agreement or a listing agreement.
HOW REAL ESTATE AGENTS ARE PAID
The Canadian Real Estate Association® 2024 Profile of Home Buyers and Sellers states that approximately 6% of homeowners opted to sell their homes in 2024 without using a real estate agent or Realtor®. A handful of For Sale By Owner (FSBO) transactions involved sellers and buyers who were previously acquainted or directly related. Real estate agents and Realtors® — unlike professionals in different categories who bill by hourly rates or earn a salary — get paid through a transaction (commission) at the end of each sale.
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