In a changing market and when there is a unique house, knowing the value is not so easy. Agreed, establishing a value requires indepth research and also gut instinct. I always advise "this is what your house should be listed for in a normal market, but as we know, this isn't a normal market and...

And here is the usual behind-the-scene explanation: -homeowner asks agent for Comparative Market Analysis, which shows the house is worth $440-$450K. Agent suggests a listing price of $459K. -homeowner thinks that his house is worth $500K because that's what the neighbours' house sold for (even...

Agreed, it would change the number for the immediate neighbourhood down, but it would change the ASP for the MLS district (which is how these numbers are reported) up, since these districts incorporate large areas, and many neighbourhoods. C09 and C12 are usually the only neighbourhoods where...

ASP - Average Selling Price, sorry. I've noticed in my business that this practice by homeowners and agents is more prevalent these days in the higher end homes than it was years ago.

AND another scenario which happens much more often than double listings: John and Mary Smith list their house for $1.495M, but it doesn't sell on MLS. It is then counted as an 'expired'. I have buyers for $1.4M in their neighbourhood, we can't find anything they like, I get onto the system...

There are far more non-MLS deals/sales than there are 'double listings'. Double listings are handled by TREB as soon as a complaint is received (it's against board rules to have two listings for one property). Once a complaint is received, TREB emails the offending broker and demands the...

Actually, Admiral, I'm a realtor and I ALWAYS advise my sellers to NEVER sign that document. If they seem in doubt, I ask them to call their solicitor. We've seen countless lawsuits stemming from those SPIS reports. They are not mandatory here in Ontario, and as far as I'm concerned, the...

Any property in Ontario which is being sold under foreclosure(Power of Sale) is sold by the bank involved, not the original owner. In the 'name of owner' on the listing, it is stated "Royal Bank under POS" or something to that effect. Also, you would have to attach a Schedule provided by the...

EXACTLY!!!! We are there to service the sellers, provide data, knowledge, expertise but in the end, the seller is the decision-maker on the listing price, and on which offer is accepted. It's just easier for the general public to refer to us realtors as "scum" if properties are selling over...

People must remember that in the end, we must take the directive from our Sellers. Case in point: I listed a property last Saturday night. I gave the sellers two prices: $375,000 as market value using comparables, and a top listing price of $385,000. They chose $375,000. Three offers by...

I know, I broke the rule of thirds in this one - on purpose....

My take on higher priced listings offering 3% and more is that they are usually owned by very savvy business people, who feel the extra commission is worth it if it directs more traffic to their property. On a $14M property, that's an extra $70,000 or more in commission - that's a nice car...

Finn, the sellers in my stat post above who are in the $1M+ range are not stupid people, yet they're the category which offers more than 2.5% more often compared to the less than $1M category. It's not bribery, it's marketing. You use every tool in the box to market a property. If they see...

^interested: Very wise, very shrewd. You are a smart seller.

I show all listings which fit the buyer's criteria to the buyer (it's all computerized - it spits them all out) - it is my duty to fully inform them of all properties. If my contract with my buyer also states that I am to receive 2.5% for the selling side, the buyer then has to make up any...

The system for sellers is an open one. They can put an ad on Craigslist and sell it themselves. They can pay a company a fee to put it on MLS and then deal with agents with buyers, or they can deal with buyers directly. They can also hire full service agents to do all the work for them. Do...

It is up to consumers to do their homework and cut the best deal they can for themselves considering all variables. The real estate agents who are commenting on here are not trying to argue whether we deserve 1% or 2.5% in selling a property. Our buyers decide what our worth is. We are just...

By extrapolating that argument, why not 6% and 3.5% or 7% and 4.5% to the selling agent Because it is not needed. Real estate is highly competitive, we all know this. In pricing it correctly, marketing it correctly - the property must compete with the others. If we do this by lowering the...