In Ottawa, the typical real estate commission rate is 5% of the final sale price of your home.
No. If your real estate agent is not successful in closing a deal, you do not have to pay them.
In Ottawa, the current median value of a home is sitting at $401,000 and may spend around 47 days on the market, which is actually 21 days shorter than last year at this time. But, there are certain factors that need to be considered, especially the location of your home, the current state of your home, and ultimately, who your REALTOR® is. Hiring a local expert is important to helping you determine how to get your home ready to sell, to help teach you about the market and when a good time to sell is, and what you should list it for.
When you are using an agent to buy a house, you are not paying them out of pocket. Their commission rate will be included in the listing agreement.
Understanding the market is very important when it comes to selling your home. Selling is a hard decision and one that will be easier when you have a professional real estate agent to guide you through the process and help market your home. Commission is always negotiable, but remember you get what you pay for. Discuss with your agent what services will not be included if they lower their charge.
Disclaimer: rates and prices subject to change.