Property Management and Real Estate Services

As the vendor, it is your responsibility to pay a sales commission to the real estate agent for successfully selling your home. The commission that you will pay is established in the listing contract.

Typically expressed as a percentage of the final selling price, commissions are payable upon the closing of the sale.

You’ll generally be obliged to pay the negotiated commission if a sale is made under either of the following conditions:

  • if you accept any offer made during the time the listing agreement is in effect – even if you sell your home yourself.
  • if, within a pre-determined number of days following the expiry of the agreement, you accept an offer from a buyer who visited your home while the agreement was in effect (the specific time frame will be spelled out in the listing agreement).
  • Commission rates in Canada today typically run in the 5% to 7% range depending on the type of listing agreement. In certain situations, they can be negotiated for instance, if your real estate agent is also involved with your next home purchase and/or represents your potential buyer.
  • Finally, real estate commissions are subject to GST and, where applicable, to provincial sales tax. Your agent or local real estate association can tell you which taxes apply in your jurisdiction.

Whether you’re determining the best time to put your home on the market, estimating how long it will take to sell, or planning your move, you’ll need to factor the seasonality of housing sales into your strategy.

Home buying in Canada is both seasonal and weather-related, with spring and summer usually coming up the big winners. For families with children, being settled in time for the school year is an important consideration.

Battling wintry elements to look at houses is not the preferred choice of most home-buyers. It’s more difficult to visit during winter and, for the average buyer, picturing the beautiful rose garden you’re so proud of requires healthy imagination.

Although the autumn is usually more agreeable for shopping around, many people are put off by the idea of moving during winter.

Despite this, homes are sold year-round. While you might find fewer interested buyers during winter months, you’ll also find less competition!

Before putting your home up for sale, you’ll want to give careful consideration to current market conditions.

Understanding the market in which you’re selling will help you make important decisions about your reasons and strategy, timing, asking price, net financial requirements and alternatives – whether you ultimately sell, or not.

You’ll first need to know whether it’s a buyer’s market or a seller’s market whether there are more homes on the market than potential buyers (buyer’s market), or vice-versa (seller’s market).

  • You’ll want to think about seasonality and the best times of the year to sell.
  • You’ll consider mortgage rate trends – are rates high or low? rising? falling? or relatively steady?
  • You’ll need to investigate the average asking and selling prices of similar homes in your neighborhood, how long they have generally taken to sell, and whether the homes currently for sale in your area are few or many.
  • Finally, you’ll want to appraise the overall economic situation. When the economy flourishes, the demand for housing is high. During times of uncertainty, it diminishes.

The Buyer’s Market

Simply stated, a buyer’s market is one in which the number of homes on the market is greater than the number of potential purchasers. In a buyer’s market, purchasers have greater choice which inevitably leads to greater competition among sellers.
Price, location, size, neighborhood, type of structure, additional features, the uniqueness of your home and its level of upkeep are just some of the points that prospective buyers will compare before making an offer.
Economic factors over which you have no control might also affect local housing markets. At a national level, high or increasing mortgage rates often lead to reduced demand and a buyer’s market.
Regionally, economic downswings or declining employment opportunities might also contribute to a surplus of homes for sale in a specific area.

The Seller’s Market

A seller’s market is one in which most sellers would like to find themselves one in which demand exceeds supply and a large number of potential buyers vie for a limited number of homes.

Like the buyer’s market, a seller’s market is often driven largely by external economic forces – low or declining mortgage rates that make even higher-priced properties more attractive, or economic upswings that bring people flooding into a city or region to capitalize on local employment opportunities.

In a true seller’s market, you’re in the driver’s seat. You can likely ask top dollar for your home (or close to it!) and still attract at least a few interested prospects.

The hotter the market, the more critical timing becomes for buyers. Homes can be sold virtually overnight, with timid buyers often losing out to more aggressive ones.

When you have decided to sell your home or property, the services of a qualified real estate professional are of utmost importance.

The ideal sales agent will have a good working knowledge of local real estate market conditions and be prepared to deliver a high standard of service to customers. Most importantly, a good agent will save you time and money.

Here are the advantages of working with a sales agent:

  • An agent knows real estate values in your neighbourhood and will help set an agreeable and competitive price on your home.
  • An agent will establish a marketing strategy for your home ensuring that your property is exposed to scores of potential buyers.
  • An agent takes care of the many tasks involved in selling a house (from placing your listing to putting up the for sale sign). This ensures that the transaction is simple and low-stress for you.
  • An agent is an expert in the home selling process and as such will advise you of your rights, options and obligations.
  • An agent is an experienced negotiator and will work for to get you the best price possible price.

“Unison Realty Group Ltd. and its agents have over thirty years of combined experience. We will find you what you want and leave you as a satisfied client. We sincerely hope you will let us use our experience to your benefit.”