According to a press release issued today by the Canada Mortgage and Housing Corporation (CMHC) on the real estate market, almost 80% of properties put up for sale are listed on Centris.ca with a real estate broker. “This figure clearly shows that the vast majority of homeowners recognize the advantages of doing business with a real estate broker for the sale of their home,”, which encompasses the majority of real estate brokers in the Montréal Metropolitan Area.
The CMHC data confirms that most consumers are well aware of the tangible benefits they have when they do business with a real estate broker for the sale or purchase of a property.
INCREASED VISIBILITY FOR THE PROPERTY
Consumers who team up with a real estate broker benefit from the increased visibility provided by Centris.ca, the website that contains the largest number of homes for sale in Québec. Consumers also benefit from the strength of a network that is comprised of more than 13,000 real estate brokers across Québec and their pool of buying clients. With a real estate market that currently gives buyers the upper hand in most areas of Greater Montréal, this is a considerable advantage.
OBTAINING A FAIR PRICE
By entrusting their property to a real estate broker, consumers benefit from a rigorous market analysis, which allows sellers to obtain a fair price for their property and allows buyers to pay fair market value.
Thanks to the Centris® database, which is reserved exclusively for real estate brokers, these professionals have access to important information such as the property’s history, its prior sales, or promises to purchase that were withdrawn following an inspection.
INCREASED PROTECTION AND SECURITY
Buyers and sellers also benefit from greater protection during a transaction, as real estate brokers are subject to ethical rules and their work is regulated by the Real Estate Brokerage Act and governed by the Organisme d’autoréglementation du courtage immobilier du Québec(OACIQ).
Real estate brokers are also required to carefully check all of the information indicated in a property’s detailed sheet (room sizes, amount of taxes, etc.). Furthermore, brokers must ensure that the seller’s declaration form is filled in, in which the owner is legally required to disclose everything they know about the property (problems, work done, etc.).
In terms of protections, all real estate brokers are protected by professional liability insurance with the Fonds d’assurance responsabilité professionnelle du courtage immobilier du Québec (FARCIQ). Subscribing to this insurance is mandatory for brokers and agencies. This represents an additional protection for buyers and sellers who use a real estate broker.