Realtors ...
Nov 28th 2012, 9:18 pm
#61
Account Closed
Joined: Jan 2007
Posts: 2,404
Re: Realtors ...
I suggest "Yes" or "no" or something like "Why bother, I can do it myself".
The point is that you said you would not use one when purchasing. You do not pay commission to a realtor when purchasing so, in essence, the purchase costs you nothing insofar as your realtor's commission is concerned (I accept that it is possible to argue that the amount you pay for the property includes commission).
As you won't be using a realtor for "free" do you believe you will be able to secure the services of a lawyer or another to draft the contract for "free" or will you have a bash yourself? That was the question.
I suggest you review what I wrote. I never suggested that you would not use one when selling.
That is what I suggested below. As I also stated, I can only imagine that it would be a real PITA to have to schedule lots of viewings in a single day. Fine if you only have one property to view, not so fine if you have multiple properties to view. Of course, you would then have the listing realtor behind you at all times.
Each to their own, I just find not using a realtor to buy a strange decision. I understand why some people don't want to use one when selling.
The point is that you said you would not use one when purchasing. You do not pay commission to a realtor when purchasing so, in essence, the purchase costs you nothing insofar as your realtor's commission is concerned (I accept that it is possible to argue that the amount you pay for the property includes commission).
As you won't be using a realtor for "free" do you believe you will be able to secure the services of a lawyer or another to draft the contract for "free" or will you have a bash yourself? That was the question.
I suggest you review what I wrote. I never suggested that you would not use one when selling.
That is what I suggested below. As I also stated, I can only imagine that it would be a real PITA to have to schedule lots of viewings in a single day. Fine if you only have one property to view, not so fine if you have multiple properties to view. Of course, you would then have the listing realtor behind you at all times.
Each to their own, I just find not using a realtor to buy a strange decision. I understand why some people don't want to use one when selling.
What is it about the Canadian system that makes it so much more complicated/difficult than the UK system?
And, it's hardly "arguable" that the buyer pays the commission fees.
Nov 28th 2012, 9:45 pm
#62
Lost in BE Cyberspace
Joined: Aug 2005
Location: South of Calgary
Posts: 13,374
Re: Realtors ...
Actually, it is. If the seller was selling the property without using a realtor, the market value of the property would remain the same.
Why don't we just leave it there.
Last edited by Almost Canadian; Nov 28th 2012 at 9:59 pm.
Nov 28th 2012, 10:02 pm
#63
Account Closed
Joined: Jan 2007
Posts: 2,404
Re: Realtors ...
I thought you had purchased a property so I assumed you knew this: the buyer's realtor prepares the purchase contract. If you aren't going to use one, you will have to prepare it yourself. I assume that, if you purchased a property in the UK, you used a solicitor to prepared the purchase contract. One pays the solicitor to prepare the purchase contract in the UK, one doesn't pay the realtor to prepare the purchase contract in Canada.
Actually, it is. If the seller was selling the property without using a realtor, the market value of the property would remain the same.
Actually, it is. If the seller was selling the property without using a realtor, the market value of the property would remain the same.
We'll agree to disagree about how realtors are paid. One thing is for sure though- they dont get paid until someone buys the house.
Nov 28th 2012, 10:35 pm
#64
Born again atheist
Joined: Jul 2005
Location: Europe (to be specified).
Posts: 30,259
Re: Realtors ...
I've only scanned this thread (which turns out not to be stupid after all, only the original post was that).
Here's my experience, first in Canada, and then elsewhere:
I bought my first house here (and first house anywhere) using a buyers realtor. I negotiated a purchase price with her help which I understood to include her fee and the sellers agent fee. So what? I obtained mortgage approval based on my down payment, purchase price and my then income.
So the buyers fee cost me a dollar or so a month on the mortgage interest.
As it turned out, I sold that house less than a year later by owner i.e. without the help of a realtor when we moved to Germany. It sold 2 days after I advertised it in the Toronto Star and we were lucky enough to make a profit which quadrupled my down payment. *Win*.
After 8 years in Germany (more later) we bought a house without using a buyers agent and were able to secure the place for 15% less than the asking price which was aided in part by negotiating with the (double dipping) realtor on her commission. We still live in this house (now mortgage free) and it has roughly tripled or perhaps quadrupled in value. *Win*
Of less general interest, after renting for two years we bought a house in Germany. We used a realtor and again factored whatever fees into the mortgage.
Six years after that we sold it (because we were returning to Canada) and made a modest 35% profit. In Germany the buyer pays all of the realtor fee. (Over and above the purchase price). *Win*
Most recently we bought a house in France (to which we'll retire asap). There the realtor and lawyer fees are a bit on the eye-watering side, but luckily again, we were able to just pay cash for the whole deal.
Did I mention lucky?
Here's my experience, first in Canada, and then elsewhere:
I bought my first house here (and first house anywhere) using a buyers realtor. I negotiated a purchase price with her help which I understood to include her fee and the sellers agent fee. So what? I obtained mortgage approval based on my down payment, purchase price and my then income.
So the buyers fee cost me a dollar or so a month on the mortgage interest.
As it turned out, I sold that house less than a year later by owner i.e. without the help of a realtor when we moved to Germany. It sold 2 days after I advertised it in the Toronto Star and we were lucky enough to make a profit which quadrupled my down payment. *Win*.
After 8 years in Germany (more later) we bought a house without using a buyers agent and were able to secure the place for 15% less than the asking price which was aided in part by negotiating with the (double dipping) realtor on her commission. We still live in this house (now mortgage free) and it has roughly tripled or perhaps quadrupled in value. *Win*
Of less general interest, after renting for two years we bought a house in Germany. We used a realtor and again factored whatever fees into the mortgage.
Six years after that we sold it (because we were returning to Canada) and made a modest 35% profit. In Germany the buyer pays all of the realtor fee. (Over and above the purchase price). *Win*
Most recently we bought a house in France (to which we'll retire asap). There the realtor and lawyer fees are a bit on the eye-watering side, but luckily again, we were able to just pay cash for the whole deal.
Did I mention lucky?
Last edited by Novocastrian; Nov 28th 2012 at 10:48 pm.
