Fortunately, it is specifically negotiated and agreed upon to the appraised value of your property, namely $ 250,000. With the help of a counselor? “probably your notary,” whose fees are about $300, you write up a counter-offer. Your efforts are finally rewarded in the 17th week of your quest, while you joyfully receive, your first offer to purchase. You place ads in the Saturday edition of a known daily at a rate of $60 a week. You receive phone calls, send information by fax and email, and organize open houses on Sunday afternoons. “The evaluator’s report, written and argued, appraises your property at $250,000 and as any good salesman, you decide to price your house at $ 275,000″įor the following fifteen weeks, you continue your quest to find a buyer, at about 6 hours of work a week. Finally, of course, you invest $850 in the wise advice and support of a notary. You determine the market value of your property by a licensed appraiser, for about $550. You prepare and photocopy information sheets for visitors, acquire a fit to be seen sign, and register your property on a specialized website for $1000. You gather documents and photos of your property and you take action. The average time to sell for a real estate broker is 90 days, much longer for an individual who sells by himself so let’s say 120 days … The salary of the owner who sells by himself …
TRANSACTION BROKER SALARY PROFESSIONAL
That is the role of a professional real estate broker.”īased on excerpts from interviews from La Presse with Mr. When we know that the property sometimes constitutes the essence of a family heritage, it is imperative to protect it. They are still interested in recruiting new brokers that will pay high rent.Īny professional service of quality has its price. All aware of these elements, the franchisers who runs “plex style agencies” maintained total indifference. Under the circumstances, it can be easily understood that the current brokers may have declared that they were not paid enough for their services. We are far from El Dorado promised by the franchisers. The myth maintained by franchisers that money keeps on pouring in in real estate should be denounced immediately. We publicly must announce that the disloyalty of some consumers, sellers or buyers cost a lot for the real estate brokers who are often had by the consumer and not the other way around. If a sale does not materialize, several hours and a few thousand dollars in publicity will vanish into thin air. Reminds us that the broker must advance time and money in hopes that the sale of his client’s house will repay the sum of his investment. The facts show that the number of transactions performed in Quebec did not increase as much as the number of brokers (70%, namely from 10 560 to 18 828). A study performed in 2003 actually showed that there was a surplus of 54.3% of brokers at the time, while 10 560 brokers were registered at l’OACIQ. It is especially true that these statistics confirm now more than ever that there is an excess of brokers in Quebec. (*Statistics from Based on common practice, with a payment upon the sale rather than at closing like other professionals, the broker comes off a little neglected especially when we take into account that he is one of the main experts implicated in one of the most important events of an individual’s life.
TRANSACTION BROKER SALARY LICENSE
LESS THE LICENSE FEES, ADVERTISING & MARKETING FEES, TRANSACTION FEES, AGENCY FEES, TRANSPORTATION FEES, ETC …
77 258 transactions (residential in 2011) divided by 18 828 real estate broker s (2011) = 4.1 transactions per broker.Taking into account an average commission of 4,5 %, we realize that by tabulating the number of annual transactions divided by the number registered brokers that the average annual salary of a real estate broker is about only $40 000 (see calculations below). The average price for properties in Quebec is about $218,000 according to 2011 statistics.
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