Popular Estate Agencies
- Royal LePage: One of the largest and most well-known real estate companies in Canada, with over 18,000 agents in over 600 locations. They offer a wide range of services including buying, selling, and renting property.
- Century 21: One of the largest real estate franchises in the world, with over 9,000 agents in Canada. They offer a wide range of services including buying, selling, and renting property.
- Re/Max: One of the largest real estate franchises in the world, with over 18,000 agents in Canada. They offer a wide range of services including buying, selling, and renting property.
Qualifications and/or Licenses for Estate Agents
In Canada, estate agents are required to have a valid real estate license. This license is issued by the provincial or territorial Real Estate Council and requires the completion of a course and passing of an exam.
Estate Agent Fees
Estate agents typically charge a commission on the sale of a property. This commission is typically a percentage of the sale price of the property, which ranges between 5% to 7%.
Other Resources for Property Details
- The Multiple Listing Service (MLS): A database of properties for sale that is accessible to real estate agents and consumers.
- Realestate.ca: A website that allows you to search for properties for sale and rent in Canada.
- Zillow: A popular website that allows you to search for properties for sale and rent in Canada.
- Local newspapers and magazines
- Word of mouth
Buyer’s Agent
The use of a buyer’s agent is becoming more common in Canada. A buyer’s agent is a real estate agent that represents the buyer in a real estate transaction. It is not mandatory to have a qualification/license to be a buyer’s agent, but most agents are licenced. A buyer’s agent typically charges a commission on the sale of a property, which ranges between 1% to 2%
Organizations for Foreign Property Buyers
- Real Estate Council of Ontario (RECO): A regulatory body that oversees the activities of real estate agents in Ontario.
- Real Estate Council of British Columbia (RECBC): A regulatory body that oversees the activities of real estate agents in British Columbia.
- Canadian Real Estate Association (CREA): A national organization that represents real estate agents and brokers in Canada.
These organizations can provide helpful information for foreign buyers, including a list of licensed real estate professionals, and information on industry standards and regulations. Contact information can be found on their respective websites.