What is a real estate commission in Ontario?

 

Real estate commission refers to the fee charged by real estate agents or brokers for their services in facilitating the buying or selling of a property.

 

In Ontario, this commission is typically a percentage of the final sale price and is paid upon the successful completion of a real estate transaction.

 

The commission serves as compensation for the real estate agent's time, expertise, and effort in helping clients navigate the complex world of real estate transactions.

 

It covers various services provided by the agent, including marketing, property valuation, negotiations, paperwork, and facilitating the closing process.