By comparing the number of transactions (excluding new listings) concluded through the Centris® provincial collaboration system used by real estate brokers with the total number of sales recorded in the Quebec land register, the QFREB found that real estate professionals assist in approximately 75 per cent of these transactions.
“Many homeowners who try to sell by themselves end up turning to a real estate broker after a few months to conclude their transaction,” QFREB President Patrick Juanéda said. “Consumers who decide to entrust the most important financial transaction of their life to a real estate broker want to ‘sell’ their property, and not simply ‘put it for sale’ on some Internet site. They want results.”
“A real estate transaction is a complex, delicate process that requires a thorough knowledge of the real estate market,” Juanéda added. “Not only will consumers be able to successfully navigate every step of the transaction process thanks to the expertise of brokers, but will also benefit from the legal protections set out in the Real Estate Brokerage Act. This protection does not apply to consumers who choose to sell by themselves or with the help of a real estate consulting firm.”
However, the QFREB emphasized that the remaining 25 per cent of provincial resales are concluded directly by homeowners only, as Quebec brokers also facilitate other non-Centris® transactions (e.g. those that involve a brokerage contract of less than 60 days or a buyer brokerage contract).
“It is more accurate to say that real estate brokers conclude at least three out of four property resales,” Juanéda stated.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Quebec’s home sellers still prefer to benefit from expert advice rather than go on their own in their transactions, according to a recent study conducted by the Quebec Federation of Real Estate Boards (QFREB).