Oct 25 | Posted by Barry

In a recent article from the National Post, new Canadian real estate rules were discussed in terms of the specific effects on home owners. The landmark agreement allows home sellers to pay for only the real estate services that they want from their agents, as opposed to the old stipulation where consumers had to opt for a full slate of services. Essentially, home owners can now choose the services they want in an ‘a la carte’ approach.

What the article, and most media outlets, fails to mention is that these new rules will only present the opportunity for this kind of service. It will not force agents to change their strategy nor their fee. While some agents will offer limited services, I am of the opinion that in many circumstances it would be a poor decision to go this route. There is a reason we go to every viewing and advertise in many different avenues other than the MLS – Its’s what’s needed to get top dollar for your home. Feedback, follow-up, and objection handling is a critical part of the process and only years of experience has taught me how to do it effectively.

Although the article talks about how this new regulation will empower the consumer, ultimately, an agent is and will always be paramount for bargaining housing deals. You never want to be in a situation where you don’t have a skilled intermediary to negotiate on your behalf. You are too emotionally divested in your house and this alone will cloud your judgment. Plus, agents are experts at handling all the technical aspects to ensure that the deal proceeds smoothly and without quarrels, negligence or fraud.

Given the current pervasiveness of the Internet, a home buyer can circumnavigate a real estate agency and self-market their property. However, an agency brings its pre-established network of interested contacts. As well, each agent is thoroughly skilled in garnishing interest for your house in a timely manner.

We are fully up-to-date with the current regulations and market expectations so that you don’t have to waste your time researching and fretting over these issues. We are your personal line of defence to make sure that you receive the maximum dollar amount for your property and that you remain safe.

With that said, you don’t legally need an agent to sell your home. However, to achieve maximum exposure and potentially a premium price you most certainly do. You, your lawyer, or even a limited service agent is likely not capable of attaining a premium price for your property because they don’t have the training or knowledge. The biggest question that arises from these new changes is that would people actually leave themselves open to being taken advantage of or reaping all the benefits when it comes to their biggest investment? Why would you not want a professional handling this sort of complex transaction? The best part of all of this is that agents spend all of the money to market your home to attain that top dollar yet they only recoup these expenses if your home sells. Bottom line, full service is the way to go.

(Source: O’Toole, Megan. “Real Estate A La Carte” National Post 2 October 2010)