Buying or selling a property is a complex undertaking that requires both experience and specific knowledge. That’s why it’s often wise to rely on trusted professionals to successfully carry out your real estate project.
When selling a property, the real estate broker plays a key role in the process. They support you at every stage, from the initial steps to the final signing at the notary’s office. As part of a sale, their responsibilities include evaluating the value of the property, gathering all the necessary documents, organizing the marketing strategy, and promoting the property.
However, while hiring a real estate broker offers several advantages, it also comes with certain drawbacks. That’s precisely what we’ll explore in this article.
The advantages of working with a real estate broker
1. Greater visibility for your listing
Nowadays, most prospective buyers begin their property search online. Real estate brokers are well aware of this trend and publish listings on exclusive professional platforms that attract three to four times more visitors than peer-to-peer sales websites. As a result, your property benefits from significantly greater exposure.
In addition, many brokers use social media strategically to target only the most relevant buyers for your home. This approach is highly effective in maximizing the impact of your listing and accelerating the sale process.
2. Significant time savings and faster closing
Selling a home can be extremely time-consuming: posting listings, responding to inquiries, arranging visits… These tasks often eat into your evenings and weekends.
By working with a real estate broker, you free yourself from these responsibilities and save valuable time. The broker handles the entire process from start to finish, allowing you to make the most of your free time.
Thanks to their expertise and network, brokers are well-positioned to quickly find qualified buyers and close the deal efficiently, often at an optimal price.
3. A trusted ally to negociate the purchase offer
Negotiation is an unavoidable step in any real estate transaction. If you feel uncomfortable or intimidated by the idea, a real estate broker is a valuable ally who will advocate for your best interests.
When a purchase offer is submitted, you can choose to accept it, reject it, or make a counteroffer. Thanks to their experience, the broker can guide you in selecting the best strategy. They will handle the negotiation professionally, aiming for a fair and satisfactory agreement for both parties, while maximizing the value of your property.
4. In-depth knowledge of the market
A qualified broker has strong insight into the local real estate market. They can accurately assess your property’s market value based on a comparative analysis of recent sales in your area.
This expertise allows them to set a competitive price, neither too low nor unrealistically high, thereby increasing your chances of selling quickly and under favourable conditions.
5. Legal protection backed by provincial regulation
Unfortunately, even with strict rules in place, real estate transactions are not entirely immune to errors or fraud. By working with a broker certified by Québec’s Organisme d’autoréglementation du courtage immobilier (OACIQ), you benefit from legal protections under the Real Estate Brokerage Act.
This legal framework ensures full transparency and safeguards your rights throughout the process. It’s essential to verify that your broker is registered with the OACIQ before signing any brokerage contract.
The disadvantages of hiring a real estate broker
1. Paying a commission
For many sellers, the main drawback of using a real estate broker is the commission that must be paid at the time of sale, usually calculated as a percentage of the final sale price. This amount is only payable once the transaction is completed, but it can still seem significant at first glance.
However, commissions are often negotiable. If your property is easy to sell, well-located and in high demand, the broker may agree to lower their rate. Conversely, for a less attractive or harder-to-sell property, the commission is likely to remain higher, as more time and resources will be required for marketing and promotion.
It’s also important to understand what this commission actually covers. In Québec, only the seller pays the broker’s commission, which is then shared between the seller’s and buyer’s brokers. This amount helps to cover expenses such as:
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Online advertising fees
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OACIQ licensing fees
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Office rental costs
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Professional liability insurance
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Marketing tools (professional photography, virtual tours, etc.)
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Time invested in coordinating visits, negotiating, and closing the transaction
Some brokers include additional services (e.g. professional photos, pre-sale inspections, home staging) in their offering and may even adjust the sale price to absorb part of the commission. In the end, this expense is an investment justified by the quality and scope of the service provided.
What is the average commission for a real estate broker?
As mentioned earlier, in Québec, a real estate broker typically earns a commission ranging from 4% to 7% of the property’s sale price. The average rate is around 5%. This range leads to substantial variations in income, as illustrated in the following table:
| Sale price | 4% | 5% | 6% | 7% |
| $200,000 | $8,000 |
| $12,000 |
|
| $300,000 |
|
|
|
|
| $400,000 |
|
|
|
|
| $500,000 |
| $25,000 |
| $35,000 |
2. A binding contract
Working with a real estate broker involves signing a brokerage contract, an official agreement that outlines the terms of your collaboration, including its duration, the commission rate, and each party’s responsibilities. This legal commitment may deter some sellers, especially if they’re unsure whether the home will sell quickly or if a trusting relationship with the broker can be established in a short period of time.
It’s important to know that there are two types of brokerage contracts in Québec:
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Revocable contract: This agreement can be cancelled at any time, under specific conditions.
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Irrevocable contract: This binds you for a defined period, and early termination generally requires mutual consent.
In either case, an amicable termination is always possible if the collaboration isn’t working. A professional broker will understand that there is no benefit in continuing an unproductive relationship. After all, an unmotivated seller also represents lost time and effort for the broker.
3. One more person to coordinate
A real estate transaction typically involves multiple parties: the buyer, the seller, a home inspector, a mortgage broker, a certified appraiser, a notary, and more. Some sellers feel that adding a real estate broker to the mix only complicates things further by increasing the number of people involved.
However, this perception is often misleading. A broker serves as an intermediary and coordinator, helping to streamline communication and manage these different players on your behalf. By taking many responsibilities off your plate, they allow you to focus on what really matters: choosing the right professionals to support you throughout your selling journey.
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