Real Estate

Selling house in Toronto (Beaches)

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  • Aug 21st, 2021 1:09 pm
[OP]
Deal Addict
User avatar
Oct 29, 2002
1884 posts
239 upvotes
Toronto

Selling house in Toronto (Beaches)

We are selling our house in a few months and looking at realtors now.

Free staging is being offered which is nice.

What % should we be looking at for realtor fee?
Is this something that is tiered? eg. x% for first $y, then a% for remaining $b?
Is the buyer's realtor fee a negotiable thing or is that always fixed?

Thanks, first time seller here.
12 replies
Sr. Member
Dec 1, 2006
944 posts
129 upvotes
Toronto
I believe 2.5% will go the buying agent regardless.
You can negotiate your listing agent down to 1% (including pictures, video and etc), but I'm not sure if they'll still stage for free.
Deal Guru
Feb 9, 2009
12368 posts
11266 upvotes
2.5% buyer

1 to 1.5% seller (depending on services they will provide you).
Deal Addict
User avatar
Jan 2, 2012
4393 posts
2563 upvotes
Toronto
chowder wrote: We are selling our house in a few months and looking at realtors now.

Free staging is being offered which is nice.

What % should we be looking at for realtor fee?
Is this something that is tiered? eg. x% for first $y, then a% for remaining $b?
Is the buyer's realtor fee a negotiable thing or is that always fixed?

Thanks, first time seller here.
Are you also buying a new home?
If you use the same agent to buy your new home (where they will collect 2.5%), you can negotiate a lot more on your sale.
Sr. Member
Oct 14, 2010
571 posts
597 upvotes
Toronto
chowder wrote: We are selling our house in a few months and looking at realtors now.

Free staging is being offered which is nice.

What % should we be looking at for realtor fee?
Is this something that is tiered? eg. x% for first $y, then a% for remaining $b?
Is the buyer's realtor fee a negotiable thing or is that always fixed?

Thanks, first time seller here.
Where exactly is the house? Type and bedrooms? I know someone who is looking in that area.
[OP]
Deal Addict
User avatar
Oct 29, 2002
1884 posts
239 upvotes
Toronto
rob444 wrote: Are you also buying a new home?
If you use the same agent to buy your new home (where they will collect 2.5%), you can negotiate a lot more on your sale.
other side of the country..
Deal Addict
Feb 19, 2019
1773 posts
2715 upvotes
Stouffville ON
chowder wrote:
Is the buyer's realtor fee a negotiable thing or is that always fixed?

Fees are negotiable, but not every agent is willing to negotiate their fees.
Full Time and Full Service Realtor
Newbie
User avatar
Feb 27, 2017
94 posts
125 upvotes
chowder wrote: We are selling our house in a few months and looking at realtors now.

Free staging is being offered which is nice.

What % should we be looking at for realtor fee?
Is this something that is tiered? eg. x% for first $y, then a% for remaining $b?
Is the buyer's realtor fee a negotiable thing or is that always fixed?

Thanks, first time seller here.
at the end of the day whatever amount of commission you offer is completely up to you,some realtors might decide not to take the listing thinking that it's waste of time, but you can always find the ones that will
as for if you should or shouldn't reduce buyer's agent commission there is no right or wrong answer, depending on who you listen to, and both sides have valid points, it may or may not affect marketability of your property. I would say if you absolutely want to get as much exposure and traffic as possible it would probably be good idea not to reduce it
Gradatim Ferociter
Newbie
Sep 5, 2018
26 posts
37 upvotes
As awful as it is, you risk not getting as much traffic to the property if you offer less than 2.5% to the buyer's agent (why that's so awful is another discussion)

A lot of the big, established agents in EY/beaches likely won't list for much less than 2.5 on the list side. 1.5% with staging including is definitely doable, but when you get down to 1% with staging included, the listing agent is making much money, and you risk attracting a desperate agent (who still might be completely competent).

My advice would be to get an agent who sells a decent amount of properties in your area and can do somewhere between 1.5 and 2%, with all services included (staging, painting, pre-list home inspection, photos and media etc).
Newbie
Dec 3, 2018
11 posts
9 upvotes
GTA
The costs to list are all over the board, the standard rate for listing has come down to 1%, some agents still ask for 2.5% but hardly any sellers pay this much anymore given it is simply not justifiable in the current market. I list for a flat $6995 including professional photography, matteport virtual tour, and pre-list inspection. If a seller needs an additional service like staging I pass the direct cost onto them, there is no reason for you to be paying an extra 10k just because something that costs a couple grand is included. Also when it comes to staging, so many sellers say they need staging when they have a fully furnished home that they currently live in so the "staging" they get is a couple vases and mirrors. Some homes do need actual staging and benefit from it, but most occupied homes only really need some de-cluttering. On the buyer side, 2.5% is the norm but many people are now going for 2.25% so you'll need to offer at least that much.
Flat fee and cashback real estate agent in the GTA.
Deal Addict
Oct 21, 2006
1051 posts
823 upvotes
what is the minimum you can sign with a listing agent? 60 days? 90 days?
Deal Fanatic
Mar 27, 2004
7739 posts
5702 upvotes
Toronto
Jigsaw wrote: what is the minimum you can sign with a listing agent? 60 days? 90 days?
on paper it's 60 days. but you can terminate anytime really
Full-time Realtor

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