Timi Real Estate % Deal Answered

What is the deal exactly, with Timi Real Estate Agents?

We are a fully licensed real estate company that offers full service but at a discount commission. In terms of services and exposure, we are identical to whoever you would like to compare us with. We are on MLS®, all the top internet real estate sites, we place a sign on your property (if it’s allowed), we show the property, hold open houses, advertise it, handle all the negotiations, plus the conveyancing. There is nothing that you are not getting, except for a high commission!

What do you charge?

We charge a total of $8,950 for residential properties under $400,000. For residential properties $400,000-$900,000 we charge $9,990. For residential properties over $900,000 we charge 1% of the sale price plus $1500. Plus applicable taxes, of course. We also offer the flexibility to offer more commission to the buyer’s agent, if you want to. It is as simple as that! For commercial properties, farms, or development properties please contact Timirealestate.ca directly or fill out the market evaluation form on the bottom left of our website pages and Timirealestate.ca will get back to you to discuss the particulars.

Are your listings on MLS®, realtor.ca and shared across the web?

Yes, yes, and yes.

What if a buyer has his own agent? Do I have to pay them?

Our standard rate already includes the buyer agent commission. Take a home priced between $400,000-$900,000 with the 1% commission being $9,900 plus HST. This commission includes $4,950 to whoever represents the buyer. In a typical $9,900 commission transaction with 1% representing the seller and the buyer being represented by a cooperating brokerage.  The Timi Real Estate listing agent earns $4,950, the cooperating brokerage earns $4,950, and the remaining $1500  pays for the Timi Real Estate agent’s expenses in selling your home. As a matter of passing interest, well over 80% of our listing sales in Ontario were sold by cooperating outside agents through the Multiple Listing Service. If an agent tells you that our listings are not sold by other agents, they are simply lying. We have years of MLS® statistics across Ontario and Alberta to prove it.

Can I offer the buyer agent more than $4,475 (or $4,950 in homes $400,000 – $900,000 or 0.5% in homes over $900,000) on MLS®?

Yes, if you want to offer more commission to the buyer’s agent on MLS® than the specified amount, the choice is yours. We would still charge you the same fee for our listing portion of the commission and you could offer those buyer’s agents a higher MLS® commission if you wanted to. Since we don’t believe offering any additional commission is necessary, if Timirealestate.ca sells your home ourselves without an outside buyer agent we will only charge you $8,950 for homes under $400,000/$9,990 for homes between $400,000 – $900,000/ 1% + $1500 for homes priced over $900,000.

Other agents have told me that if I list with Timi Real Estate Agents, agents from other companies will not show my house because they don’t get the same amount of money. Do agents boycott your listings?

Our listings are shown by cooperating REALTORS® every day just like other listings on MLS®. We cannot measure showings that we don’t get. What we have seen across Canada over the years is that well over 80% of our listings sales are sold by cooperating agents. Would they rather have more money? Of course—no argument. But the fact is, our listings are displayed everywhere that all the other listings are. All our listings are on MLS®, all the top internet sites, have a sign on the lawn, are in the real estate paper, and we do open houses. So if someone is looking for a home in your neighborhood, in your price range, they are going to know it is for sale. That buyer is going to look at whatever is on the market before they make their decision. Buyers don’t pay the real estate commission, so why would they care which house they buy? If their agent is unhappy with what we pay, the buyer will call us. But the fact is that the agents show & sell our listings, every single day. All of our sold signs over the years prove it!

Are there any hidden fees?

When you sign the standard MLS® listing contract with us, it lays out exactly the commission cost to you. If you are selling a condo property, there are some Condo Association documents that will be required to provide in a sale.

What if I want to do ‘even more’ advertising than my Timi Real Estate Agents marketing plan?

Since what we offer is full-service real estate, it is quite rare for a seller to request or pay any additional advertising from their Timi Real Estate Agent. That being said, you are in control of the advertising of your home. If you want additional advertising beyond the marketing plan of your Timi Real Estate Agent then great, but you will be responsible for the additional cost of such. Your Timi Real Estate Agent will require your approval before spending such additional expenses.

With your low commission structure, how do the Timi Real Estate Agents earn a living?

These days with technology REALTORS® can work virtually and do not require the expensive office overhead of the past. Plus with our attractive full-service commission rates our agents spend a lot less of their time and money prospecting for business and more of their time selling homes. With less office and advertising overhead and higher sales volume, they make a good living while saving their clients lots of money.

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