Wade Kovacic • Local Sales Representative
Let me show you what a 1% listing commission* really means.
When you sell your home, there are typically two agents involved: 01. The "Listing Agent", who sells the home. 02. The "Buying Agent", who represents whoever actually buys the home. Each agent usually receives 2.5% of the final selling price, so the total you will pay in agent commissions is 5% (2 X 2.5%). If your Toronto home sells for $900,00.00, for example, you would pay $45,000.00 in total commissions. The two agents involved would then split that total commission and receive $22,500.00 each. Here is how it normally works:
The "Listing Agent" appraises the home, assesses it against similar neighbourhood sales and sets a market price. The selling price is adjustable and can be raised or lowered. 5% of the final sale price will be divided by the "Listing" & "Buying" agents.
This couple is selling their Toronto home and have hired a "Listing Agent" to help them with everything involved.
"Listing Agents" represent the home sellers and take care of legal things, listings, home showings and negotiate to sell the home for the highest possible price. "Listing Agents" traditionally receive 2.5% of a home's final sale price.
"Buying Agents" represent the home buyers and take care of legal things, finding homes to view and negotiate to buy the home for the lowest possible price. "Buying Agents" traditionally receive 2.5% of a home's final sale price.
This couple wants to buy a house in Toronto and have hired a "Buying Agent" to help them with everything.
Both agents - the "Listing" and "Buying" agents - work independently of one another and the "Buying Agent" still receives 2.5% of the final selling price. If you hire Wade as your "Listing Agent", his listing fee will be reduced to just 1%* (instead of 2.5%). And this is where you save 1.5%. In the above example (using the $900,000 Toronto home), this would save the home sellers $13,500.00 in listing fees. This is how it will work with Wade involved:
The "Listing Agent" appraises the home, assesses it against similar neighbourhood sales and sets a market price. The selling price is adjustable and can be raised or lowered. 3.5% of the final sale price - instead of 5% - will now be divided by the "Listing" & "Buying" agents.
As the "Listing Agent", Wade will provide the sellers with all (or more) of the same services and negotiate the highest selling price for the home (often over asking). Wade receives 1% of the final sale price* and saves the sellers thousands.
“Low 1% Commission*” refers to what you will be paying to the “Listing Agent” and saves you 1.5% of the home’s final selling price.
And You’ll Still Get All Of My Brand-Name Services!
Just because you pay less in commission fees* doesn’t mean you’ll receive inferior services:
Why Pay More In Listing Agent Fees If You Don’t Have To*?
* My 1% fee & savings are based on a hypothetical example of a 5% total commission (2.5% listing + 2.5% to buyer brokerage) . 1% Listing fee is plus 2.5% buyer brokerage fee = 3.5% maximum commission.