Most people are only ever shown one way. Here are the real choices, with the fees in actual dollars, not percentages.
This example starts at 2.5%. You decide the actual figure with Katie when you list, and you can set it lower - or to zero if you sell yourself and the buyer has no agent.
Sell it yourself
For sale by owner
Listing commission$0
Buyer's agent commission-
HST on commissions (13%)-
Legal fees (estimate)$2,000
Total selling costs-
What you keep, before your mortgage
-
List with Real Agency
1% listing commission + HST
Listing commission (1%)-
Buyer's agent commission-
HST on commissions (13%)-
Legal fees (estimate)$2,000
Total selling costs-
What you keep, before your mortgage
-
What selling yourself really involves. With no listing brokerage, you handle the pricing research, photography, marketing, showings, offer negotiation and paperwork yourself, and your lawyer still handles the closing. Some owners do it well. Others find that the price they achieve on their own costs them more than a commission would have. There is no universal answer - it depends on you, your home and your market.
Your comparison:
Commission rates in Ontario are negotiable and are not fixed by law, by any real estate board or by any association. The comparison above uses only the rate you typed in, and it is not intended to represent a standard or prevailing commission rate.
Also buying? A third way to save. If you buy your next home with Real Agency as well, a portion of the commission Real Agency receives on that purchase may be credited back to you. Whether a rebate applies, and how much, depends on your situation, and it is always set out in writing before you commit to anything. Ask Katie for the details - katie@realagency.ca.
Finish the math in private. Take the "what you keep" figure above and subtract your remaining mortgage balance yourself. That final number - your true walk-away amount - is yours alone. We never ask for it, and there is nowhere on this page or in our advisor to type it.
Step 3
What can you do next?
Selling is only half the move. If you are buying again in Ontario, land transfer tax applies to the home you purchase, not the one you sell. Type a rough price for your next place and see the closing costs waiting on that side.
Ontario land transfer tax-
Legal fees (estimate)$2,000
Estimated closing costs, before your down payment-
Land transfer tax is calculated with the Ontario provincial formula in effect today; your lawyer confirms the exact amount at closing. Buying inside the City of Toronto adds a separate municipal land transfer tax on top - Waterdown, Burlington, Hamilton and most of the surrounding area do not have one. First-time buyers may qualify for a provincial refund of up to $4,475. Moving, inspection and adjustment costs vary and are not included.
Your down payment for this purchase is the private number from the gold box above - what you keep from your sale, minus your mortgage - plus any savings you add. You already have everything you need to work it out.
Want real numbers instead of estimates?
Katie Davidson reviews your figures with you personally - the value range, the costs, all three selling paths - free, and with no obligation to list.
The figures on this page are estimates you generate yourself from numbers you type in. They are not an appraisal or a formal Comparative Market Analysis, and they should be verified before making decisions. Savings figures are examples based only on rates you enter; cooperating commissions are determined by the seller and can vary. Legal and other cost figures are estimates and vary by property and lawyer. Nothing on this page guarantees a sale price or time on market.