Role of a real estate broker

Your protection in real estate brokerage

Selling an immovable requires extensive technical knowledge. This is why we recommend that you use the services of a real estate brokerage professional in order to make sure that all the operations involved in selling an immovable will be completed in accordance with standard practice. The main function of the real estate broker is to act as intermediary in the purchase, sale or rental of an immovable. He plays a prospecting role by finding an immovable for the buyer and a client for the seller; he plays a negotiating role by facilitating communications between the parties involved and, mainly, he plays an advisory role and helps the parties define their needs and complete their real estate transaction in a satisfactory manner.

Types of brokerage contracts:

Exclusive brokerage contract

In an exclusive brokerage contract, the seller agrees not to use the services of another intermediary for the sale of his property. This type of contract guarantees to the broker that the efforts made to sell the property will be compensated at the time of the sale. The seller can also expect his broker to devote maximum time and effort to sell his property.

Non-exclusive brokerage contract

In a non-exclusive brokerage contract, the owner retains the right to sell his immovable himself or through another person of his choice. This type of contract, although it may appear advantageous at first glance, can have a major drawback in that the broker risks losing his compensation to a competing intermediary, regardless of the effort he may have put in, which could lead him to devote less energy to the sale of your property

Content of the brokerage contract

The brokerage contract officialises the obligations to which the broker and his client have agreed. The following are the main elements the contract must contain for the sale of a chiefly residential immovable with less than five dwellings.

Selling price

An essential step in the sale of your home is to set a realistic selling price. To do so, you need to know the current status of the market. Your broker or agent can give you an idea of the actual value of your home by comparing it to similar properties currently up for sale or recently sold in the same area. This will make it easier for you to set a fair and competitive price.

You also have to identify the elements that can act positively or negatively on the value of your home:

  • location;
  • size;
  • construction year and condition of the immovable;
  • number and layout of rooms;
  • construction materials used;
  • landscaping;
  • features specific to the area;
  • etc.

This exercise may lead you to reduce the asking price for your property, because a price that is too high compared to the market will drive buyers away and therefore have a direct impact on the amount of time it takes to sell your property. Remember that an immovable that remains on the market for too long tends to lose value in the eyes of the buyers.

If the owner wishes to change the asking price during the contract, an Amendments and Notice of Fulfilment of conditions form must be completed.

Showing your home to its best advantage

Part of success in selling your home depends on the impression which potential buyers will have when they view it. Showing it off properly is therefore of prime importance. Many elements can help get you the best possible price for your property. Some require some expenses, which can probably be recovered when you sell your house. You will find on the next page a Preparation checklist to help you plan how you will prepare your home.

First impressions

First impressions have a considerable impact on a person’s perception after a visit. Therefore, certain visual aspects must be reviewed. Is the outside of the house in good condition? Do gutters need repairs? Is the garage neat? Have broken windows been replaced? Has the grass been cut and raked? Do the hedges and shrubs need trimming? In winter, has the snow been removed? Does the doorbell work? Are door trimmings in good condition?