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Toronto Real Estate-Did your agent tell you they charge a marketing fee to the Selling Agent?

By Andrew John Cocks | Richmond Hill Mls Listings

Toronto Real Estate-Did your agent tell you they charge a marketing fee to the Selling Agent?

Article by Diane Plant, Broker

What is a real estate marketing fee?Simply put-it is an arbitrary amount of money a Listing Agent will charge a Selling Agent for helping him/her market the property they are listing on MLS.

My question to the Seller is-why did you hire that Listing Agent if they were going to charge another agent to sell the listing?

Did your agent disclose the fact that they were going to charge a marketing fee? Did you Mr./Mrs. Seller know that that marketing fee could negatively impact your listing, no showings or reduced shoings?

The marketing fee is found on the Broker’s portion of the listing and these are just a few examples of how it looks when a realtor sees your listing. Note:The 2.5% is what the Selling Broker gets, and that is on the MLS Agreement you signed, but the -$ 50, or -$ 300 or -$ 100 is the amount being deducted from the Selling Brokerage commission and probably was not disclosed to you.

CB Comm: 2.5% -$ 50

CB Comm: 2.5% -$ 300

CB Comm: 2.5$ -$ 100

We all know that the Code of Ethics forbids us from “black-balling” a listing. Let’s get real. If there are 5 listings in a given area that an agent is looking at to show, 4 do not have a marketing fee and 1 does. Is the Selling Agent going to bother showing the one with a fee, unless it is written up to pre-sell that it can not be passed over?

I think that agents should fully disclose what the Listing Brokerage receives, what the Selling Brokerage receives and what the Listing Agent is going to charge (if any) another agent for selling their listing. Oh, by the way, Mr/Mrs Seller-did you get an accounting of exactly what your agent is going to do for you to market your property. That marketing fee might just be a money grab and your listing agent just puts your property on MLS and hopes it will sell.

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I proudly server buyers and sellers in the Toronto Neighbourhoods of: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you’re buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

Diane Plant, Broker Forest Hill Real Estate, Brokerage (416) 488-2875Email: diane@team-plant.com

Visit MY Website http://www.propertysearchintoronto.com

Diane Plant is a real estate Broker in Toronto. Serving her clients for over 21 years. She helps both sellers and buyers negotiate the best prices successfully. Diane is in partnership with her son Jeremy Plant. You will always be able to contact someone on Team Plant. www.team-plant.comDiane and Jeremy work with Forest Hill Real Estate Inc. Brokerage.










Investment Prospects of Cottage Properties – Can They Make the Grade

By Andrew John Cocks | Cottage Properties

Investment Prospects of Cottage Properties – Can They Make the Grade

Article by Canadian Home Find

Under what circumstances can you be able to make a good investment out of your purchase of an idyllic and luxurious cottage property? In most instances, buying a cottage property is more of an emotional purchase than anything else. If you think that it is a sound investment, then think again.

Purchase of recreational properties such as cottages is a lifestyle choice, and it will not necessarily result to a fatter bank account. In most cases, seasoned investors don’t look at recreational properties as an investment option for they are not. Instead, the purchase of this type of properties is primarily motivated by their intention to provide their family with great holiday option. It is also their option when looking for a peaceful place for them to retire.

If you love the lifestyle, then you will surely be making a wise decision when you buy a cottage property. However, you have to perform some serious assessment of your financial portfolio since this decision cannot be considered as an investment move.

An Expensive Proposition

When you decide to buy your dream cottage, it is essential that you take into account the additional expense items such as applicable taxes, maintenance and upkeep, second mortgage, etc. All these expense items will impact on your finances for a property that you will use for a few times each year.

On the heels of a recovering economy, sales performance of the recreational property segment has stayed in negative territory. In recent market report, average price of high-end luxury and recreational properties was pegged within the range of $ 370,000 and $ 600,000.

Despite the high average price of this property segment, seasoned investors don’t consider them as a good investment option. Cottages are, in most instances, bad investment ventures since they exist in a market which experts consider as illiquid. This means that you may have a hard time unloading this type of properties since there are just a few buyers in this market segment. You may have to accept significant decrease in your financial profile if you decide to sell the property below the principal amount.

A major part of the value of recreational property is attributed to its location. A cottage that is located within a few hours’ drive from the city center and perched near a lake is likely to fetch a better price. This means that you have better chances in selling this type of recreational property. If you own a cottage property that has a full line of amenities, then you can make a good sales pitch if you focus on baby boomers that are looking for a great retirement home.

Cottage is an Expensive Property Ownership

You must have to contend with high ongoing cost if you allow yourself to be charmed by romantic images of sunsets and hammocks that go with owning a recreational property. You have to account for additional insurance, property taxes, maintenance cost, etc. Most lenders are reluctant to approve mortgage applications for recreational properties, and if you are to get an approval, the package may not be that great. Insurance companies may not be inclined to grant coverage to a recreational property that remains empty for the most part of the year.

In order to cover some of the cost, you may consider renting out your cottage property. However, this option brings with it additional responsibilities. You have to spend time and resources to advertise the property. You must also perform the necessary screening process of your prospective tenants. Finally, you must spend significant time in cleaning and maintaining the property.

Article by canadianhomefind.com Canada’s most effective For Sale By Owner service. Click for more information on: For Sale By Owner how-to Most Effective FSBO Programs Browse FSBO Listings

Article by canadianhomefind.com Canada’s most effective For Sale By Owner service. Click for more information on: For Sale By Owner how-to Most Effective FSBO Programs Browse FSBO Listings










What you can expect from a Northumbrian Cottage holiday. To book your holiday cottage just visit www.northumbrian-cottages.info/
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