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How does a realtor work?

Discussion in 'Housing' started by itsron, Apr 1, 2019.

  1. Some rentals will not pay a real estate agent a commission and many real estate agents will only show properties where they will get a commission. If properties are being shown by the owner or it is an apartment corporation a commission they may not agree to be pay. Wouldn’t completely depend on a realtor unless you are looking for a higher cost property (home or condo usually). Do your own looking as well. If you sign a contract with an agent make sure there is a clause describing what happens if you find your own rental. You need to make sure you won’t need to pay the agent if that happens.
     
  2. Not many realtors are going to take you on a tours of apartment towers that won’t give them commission. Many companies that own apartment towers have their own rental department and won’t work with realtors. All depends on the budget and what people are looking for.
     
  3. 1. Realtor fee is paid by the tenant in any transaction that takes place on a Realtor.ca or MLS listing.

    2. Not necessarily. But a landlord that is hiring a Realtor (and paying them) and asking the Tenant's Realtor to bring a qualified Tenant (and is agreeing to pay them too) obviously sees value in having a Realtor. They are professional (mostly, haha) and the transaction is secure. If the Landlord wants to use a Realtor, they hire them on principle, not on saving few fees. It doesn't affect the rent price or make it more expensive.

    3. Check online, read reviews, go through websites and social media. Realtor.ca has listing of all licensed Realtors in Ontario.

    Good luck!
     
  4. There is no law about commission. I have clients that rent out their property on an on-going basis and I charge a flat fee. There is no law about Realtor commissions or fees in Ontario.
     
  5. Landlords pay the fee not tenants. Typically month’s rent to the realtor.
     
  6. Yeah, I've used a realtor twice in Toronto, and I never paid any fee/commission. Once for a condo in downtown Toronto, the second for a house in west Toronto. I believe my realtor and the landlord's realtor split the commission.
     

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