Seller Zone

A Real Estate Brokers' Compensation Is Well Deserved

A Real Estate Brokers' Compensation Is Well Deserved

Did you know that real estate brokers receive their compensation only when the notarized deed has been signed? The amount they receive for a real estate transaction is determined when the brokerage contract is signed with the client, but the amount is paid only when the transaction is made official.

Often called a « commission », compensation doesn't go directly into the brokers' pocket. If a selling broker (representing the buyer) was involved in the sale, the listing broker (representing the seller) must pay a portion of his compensation to the selling broker. Also, as a self-employed worker, the listing broker incurs many expenses before even receiving compensation, such as liability insurance, as well as advertising, transportation and office fees.

Buying or selling a home can involve a variety of financial, legal and technical worries. By using the services of a real estate broker, you can accomplish one of life's most important transactions without any complications. And remember, they only get paid if they get results, because brokers will receive their compensation only if they successfully sell your property.

Highly Qualified Professionals

Real estate brokers in Québec must follow a mandatory training course offered by a certified institution such as the Collège de l'immobilier du Québec. Brokers have access to a wide range of continuing education activities that allow them to increase their knowledge and stay up-to-date on the real estate industry.

Real estate professionals in Québec must also pass an examination administered by the Organisme d'autoréglementation du courtage immobilier du Québec (OACIQ) in order to obtain a certificate of practice. They are also regulated by a professional code of ethics and standards of practice. So as you can see, your real estate broker is a highly qualified and well-trained professional.

Source: centris.ca