You are not required by law to go through a REALTOR® for your home sale. However, as each of the steps involved can have major financial and legal implications, many people choose to hire a REALTOR® to represent them throughout the selling process.
You will require a lawyer for the final closing steps, including signing over the title deed and paying out all parties. Otherwise, you can sell your home by yourself, provide you are willing and able to do the rest of the work involved. Keep in mind though, that even the most seasoned sellers have learned that it is worth hiring a REALTOR® to do the work right.
The cost of your REALTORS® services will be outlined in full detail in your consultation meeting. For REALTORS® in Canada, there are standardized commission rates for property sales, but also different rates depending on the services you require. The commission structure will be disclosed and explained prior to signing the Sellers Representation Agreement.
It is important to keep in mind your individual needs and ensure your REALTOR® understands them, and can get you closer to achieving them. The Agreement will outline the terms of payment and how long the agreement will be valid for.