Myth #5: Collaborating broker fees

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“I will never sell because no collaborating broker will show my property to their buyer clients for less than 2%”

7.4 In this regard, shared remuneration terms that are unreasonable towards other agencies or brokers could reduce their interest in proposing the immovable or enterprise to their clients.

This is a direct quote from the standard OACIQ brokerage contract for selling a property with a broker.

“Could reduce their interest in proposing the immovable”? So what? Property listings are all online. Buyers don’t need brokers to “propose” them properties for sale anymore!

The proof is that every year in Quebec, over 25,000 properties are sold via Centris/MLS directly to buyers by the listing broker without a collaborating (buy-side) broker.

Your property will be listed on Centris/MLS by your FIXE.IMMO member broker in the exact same way as any other property listed by a traditional broker. If a potential buyer is interested in your property and their broker refuses to “propose” your property or denigrates your property in some way because the commission you’re offering is too low, that buyer is free to, and most likely will, contact the listing broker directly or find another broker who is willing to participate (like a FIXE.IMMO member broker!).

So whether brokers “propose” your property to their potential buyer clients or not has no impact; neither on the final sale price, nor the time it takes to sell.

While most brokers won’t (usually) go so far as to risk OACIQ disciplinary sanctions by disparaging a property listed by a FIXE.IMMO member broker or otherwise discouraging their buyer clients from considering it, some traditional brokers might ask their buyer clients to pay extra out of their own pocket to make up the difference with their “standard” brokerage fee.

So, if you’re a buyer and you feel that your broker’s services are worth more than the 50-50 split of the fixed brokerage fee offered by the FIXE.IMMO member broker listing the property, you can sign what is known as a purchase brokerage agreement with your broker. This is an official OACIQ contract which, for whatever extra amount you agree to pay your broker, you will be charged by the notary at closing.

In all fairness though, why would you do that? If your broker refuses to show a property listed by a FIXE.IMMO broker, or wants more money from you to do so, just contact the listing broker directly!

If you would prefer to be accompanied by your own broker, you can always choose another FIXE.IMMO member broker to represent you. You will get the exact same service and objective guidance as you would with any other broker, but at no extra cost.

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