If you actually read the contract your real estate agent in Thornhill presents you with when you're hiring her to sell your old home in preparation for the move to Gatineau, you'll notice that one of the things you may be agreeing to is to give her the exclusive right to sell your home. What does this mean? We can enlighten you.
Giving a real estate agent the exclusive right to sell your home means that she and only she can act on your behalf to sell your Cornell Markham home to another buyer. This means that once you sign a contract with a real estate agent, you cannot go out and hire a second real estate agent to also work on selling your home in the hopes that they will compete against one another and get you a better price. There will usually be more than one agent involved in a sale, such as the other agents in her office and the buyer's agent, but involving these people will be at her discretion, not yours.
Why do real estate agents want this right? A real estate agent needs to know, before she starts work, that her efforts will bring her reward. Because real estate agents are only paid once the Aurora homes they're working on have sold, if they were to do any work on selling a home and then be undercut by another agent, they wouldn't receive any compensation for the time they had already spent working on the project. So in essence, by giving an agent the exclusive right to sell, you are guaranteeing her a commission on the sale of your home.
Giving an agent the exclusive right to sell also means that you cannot undertake to sell your own house under your real estate agent's nose in the hope of avoiding paying her commission. This doesn't mean you can't help your real estate agent out by telling people about your real estate listing in Toronto or showing them around the property. But be aware that even if you cultivate the buyer yourself, you will still have to pay your real estate agent her commission if you have signed the contract.
The exclusive right to sell contract is the most common type that realtors use, however, not all realtors will require you to grant them this right if you want them to work for you. Some Milton homes for sale are sold by agents with a non-exclusive right to sell, but if you're thinking about hiring one of these agents you should be aware that they don't usually give you the same level of service in terms of marketing and open houses as exclusive agents.
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