1. If you have been in multiple offer, you know how stressful it can be. When presenting in person in most cases it is evident that there is competition. However sometimes the multiple offers are done over fax! Phantom Offers. There is simply no way of knowing if it is a complete sham. We can ask for the name of the brokerages we are competing against, however it is not mandatory for this information to be disclosed.
2. Currently we (Licensed Realtors) in Ontario must either charge a flat fee OR a percentage. Many experienced Realtors provide a-la-cart service, this legislation would allow the process to be more transparent.
3. Statistic Check: Consumers currently pay between 5-6%? Source? This statistic needs to be qualified. In what jurisdiction and at what price range? These days typical real world commissions in the GTA and 905 are between 4% to 5% and could be less if it is a package deal, repeat client etc. Source? Speaking to fellow Realtors.
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