Full Service MLS for

Residential

Frequently Asked Questions

1 - How has your service changed in response to COVID-19?

2 - How successful are you in helping Canadians sell their homes?

3 - How does selling my home with ELITE Properties work?

4 - Will I get the same visibility with ELITE Properties that I get with another brokerage?

5 - What does it mean that I pay a “fixed fee” to sell my home?

6 - How does ELITE Properties get me the best price for my home?

7 - How long will my house be on the market if I use ELITE Properties?

8 - Do I have to pay ELITE Properties a commission to sell my home?

9 - How do ELITE Properties real estate agents compare to agents from other brokerages?

10 - Will ELITE Properties help me with my asking price?

11 - Do I have to do everything myself?

12 - Why do I have to pay the listing fee up front?

13 - How can you charge so little? What’s the catch?

14 - Why does ELITE Properties use a team-based approach?

15 - Does ELITE Properties cooperate with other REALTORS�®?

16 - How do your agents get paid?

17. What is a 241 Plan ?

A 241 plan is whereby a seller sells their property using Lokations Realty Inc or its affilates and signs a buyers contract.  The listing fee for the sale will be $ 350.00.  If another sales rep / brokerage is involved as the buyers agent the seller would have to pay them as well.. usually upto 2.5 % of the sales price.     The seller, based on the buyers contract will then purchase a property using Lokations Realty Inc. or their affiliates,  whereby that agent will be paid on the sale of the next property by the seller.  

1 How has your service changed in response to COVID-19?

Keeping our clients, REALTORS�® and fellow agents safe during this unprecedented time is our top priority. We provide the same exceptional service and level of customer care, but modified to align with the recommendations of our Ministry of Health. This means we offer virtual appointments, as well as in-home appointments with our agents wearing PPE. We are also able to offer virtual home showings. All other aspects of our service, like offers and negotiations and paperwork, have been leading the industry in technology for years and will continue to be handled virtually. Visit our blog for frequent updates!

2 How successful are you in helping sellers sell their homes?

The real keys to selling a home are simple: you’ve got to ensure that the property is priced right for current market conditions and that your listing gets maximum exposure. Our combination of market expertise and exposure on REALTOR.ca and ELITE Properties.ca, ( LOKATIONS Realty Inc ) two of the best real estate websites in Canada, provides these cornerstones of a successful sale. On top of all that, our team with the help of co-operating agents within the MLS are dedicated to your success from start to sold.

3 How does selling my home with ELITE Properties work?

ELITE Properties makes selling your home simple – get a full-service real estate experience, for thousands less. First you'll have your listing appointment with a local REALTOR�®. At the appointment your home will be photographed, you'll review an in-depth Comparative Market Analysis, and set the right sale price for your home. After your listing appointment, our office will manage all the incoming calls about your home and arrange showings for potential buyers. All negotiations and paperwork are handled by our dedicated Offer and Negotiation Team. And the result? Your home sold while you saved thousands in commission! ELITE Properties saves sellers an average of $13,500* in commission.

*Average savings based on a commission of 5% in Ontario

4 Will I get the same visibility with ELITE Properties that I get with another brokerage?

With technology today, most homebuyers are starting their own home searches online. Almost all buyers are searching on REALTOR.ca, Canada’s most popular real estate platform, and sending a list of homes they want to see to their agent. Unlike the past when listings were only visible to REALTORS�®, the public has access to view any listing on Realtor.ca. All of ELITE Properties’ listings are on Realtor.ca, and are also posted on ELITE Properties.ca  

5 What does it mean that I pay a “fixed fee” to sell my home? 

At ELITE Properties, we charge you a fixed fee for our services, rather than a percentage of your home’s value. Whether your home is $400,000 or $4 million, our fees never change. As for cooperating commission, the choice is yours! Your ELITE Properties agent will review the market conditions in your area and discuss your options with you, but the fact remains, their will be huge savings.

6 How does ELITE Properties get me the best price for my home?

We are well-informed about your market – they’re constantly studying market conditions because they provide complete Comparative Market Analysis for each of the hundreds of properties they list in a year. We know what’s currently on the market, what has sold, what’s not selling, and how prices are trending at any given time, so your home will be priced to be both on-point and competitive!

7 How long will my house be on the market if I use ELITE Properties?

The brokerage listing a property doesn’t have much to do with the length of time it spends on the market. The three main influencers of how long it takes to sell are: if a maximum number of buyers can easily find it online (great advertising on ELITE Properties.ca and REALTOR.ca helps!), if it’s priced right (see the previous question!), and if it shows well. We’ve also designed our processes for the utmost efficiency: with our Offer and Negotiation service and our use of digital sign-back technology, you can rest assured that everything will be handled with lightning speed. In fact, we have hundreds of testimonials from clients who were thrilled to sell much faster than they’d expected!

8 Do I have to pay ELITE Properties a commission to sell my home?  ( see 241 Plan ) 

No – not even when you read the fine print.   We’re a fixed-fee brokerage, which means our sellers will never pay us a percentage of their selling price.  Of course, when it comes to offering a cooperating commission to buyer’s agents, the choice is yours, but your ELITE Properties agent will review the market conditions in your area and discuss your options with you. * Contracts cannot be altered once signed.

9 How does the brokerage compare to agents from other brokerages?

We like all other realtors are members of the Canadian Real Estate Association (meaning we are accredited REALTORS�®) and belong to many of the same real estate boards as other agents, giving them access to all the same information about your market.    Add on leading-edge technologies to make serving clients faster and more efficient, and you’re looking at a powerful team that’s sure to impress.

10 Will ELITE Properties help me with my asking price?

You can be sure of it. ELITE Properties agents live and work in your local market and scour the data every day to know what’s selling and what’s not. After we’ve seen your home’s unique qualities through a virtual appointment, we’ll provide you with a customized Comparative Market Analysis and pricing strategy to help you reach your unique selling goals. And even though you’re saving thousands of dollars in commission, that doesn’t mean you have to sell for less than you would with any other brokerage: we price your home according to its market value, not according to our fee structure.

11 Do I have to do everything myself?

Not at all! Our team of local REALTORS�® and real estate professionals are working for you at every step of your sale.  Once you’ve had your virtual listing appointment, our Customer Support team is here to help with any questions you may have.  Our Showings team will manage all the details of setting up virtual showings of your home, and when an offer comes in, the Offer and Negotiation team that specializes in this part of the sale will ensure you get the best offer!

ELITE Properties is a full-service real estate brokerage, much like other real estate brokerages.   What sets us apart is our business model that allows us to charge a low, fixed fee for selling your home, rather than a percentage of your home’s value. Whether your home is $400,000 or $4 million, our fees never change.

12 Why do I have to pay the listing fee up front?

With the guidance of our team through every stage of your sale, we’re confident you’ll sell. We simply charge a low fixed fee up front to cover the cost of listing your property and getting the exposure you need in today’s market. It’s a little like taking a vacation on a 5-star resort: you pay upfront, then relax and enjoy the experience! Then, you’ll only pay the additional fixed fee when we successfully close the deal on your home.

13 How can you charge so little? What’s the catch?

No catch! But we do ask that you buy your next place from us.. and take advantage of our Cashback program.  Our cutting-edge technology also allows us to focus on their homebuyers and sellers, while a centralized team gathers leads and provides customer support – that cuts out the need to pay for multiple traditional branch offices. All told, these differences allow us to pass on impressive cost savings to our customers.

14 Why does ELITE Properties use a team-based approach?

At ELITE Properties, we truly are a team. Each member has a dedicated role that allows our business to run like a well-oiled, commission-saving machine.  

Our websites are user friendly providing online customer support and marketing which is all handled by our centralized team. This allows the agent to focus on what we do best - interact with home sellers and buyers.  

15 Does ELITE Properties cooperate with other REALTORS�®?

ELITE Properties is always proud to cooperate with REALTORS�® from other brokerages.  

We know that offering a cooperating commission helps get buyers through the door, so we encourage our sellers to offer a competitive commission for their area. Now that being said, we allow our home sellers to decide if they want to offer cooperating commission or not.  

16 How do your agents get paid?

Flat fee or commission based which is decided at the signing of the listing contract. A listing contract is required in order for the brokerage to advertise and represent an owner when selling real estate. 

Selling by Owner - Posting services only

If you are looking to lease your vacancies ... We have your answers covered. We get asked several questions and we try to include them here. Please take a moment and browse the answers.  This applies to as we post all types of properties.. now expanding to posting of sales..

·                                 1. How are incoming leads or offers handled?

When we get any leads for your property, they are forwarded live you and give them the contact information that you provided to us.  You will be required to handle any showings and "  open houses yourself " .   All offers are handled by the landlord/property manager and the tenant/occupant and their agent.. if they have one.    if you wish our assistance.. the choice is yours!

·                                 2. What is an inter-board listing and WHY do I need it?

Listing that appears on your local real estate board which is a private REALTOR site that is not available to the public. This lets tenants agents in your area know your property is for Lease/ Rent and that you’re willing to pay them a commission if they have a buyer for your property.  If you wish to co-operate and pay an tenants agent, the cost wil be $ 75.00 extra / 3 months posting.   If you are not co-operating with agents, there is no need to Interboards as it is live on Realtor.ca ( MLS ) for the public.

·                                 3. What happens after I sign up?

When you complete your payment, you will be sent your listing package forms and instructions depending on which package you purchased.  The Package contains detailed and user-friendly instructions on how to complete the forms and obtain required information.   The suggest you simple edit the PDF form and fill in all that you can.. save it and send it to us for review.  If not sure, give us a call or send an email. We are always happy to help.

Once we receive your listing package, we send you a confirmation email and the review of your listing package will begin. Our time commitment for the initial review is 1 - 3 business day.  If additional information is required, we will write you a detailed list of all missing information and a list of any discrepancies found in the documents within your listing package.  We are always available to answer any questions on required information and how to complete the forms.    As soon as your listing package is compete, you will receive a confirmation from us and we will post your MLS® listing within 1-5 business days.

·                                 4. Who is responsible for the accuracy of information on MLS® System?

The Landlord or Property manager must take responsibility for the accuracy of information that they post on MLS® System. Agents must make reasonable inquiries to discover and disclose material facts affecting the value of the property. However, this does not mean that they have to provide an absolute warranty for the accuracy of the information in all circumstances, and it certainly does not relieve the Landlord / Property Manager from their legal and contractual obligations to make true statements and honest disclosures.

To ensure compliance with these provisions, our Listing Agreement requires all Landlord / Property Manager to provide certain documents to support their marketing claims about the property and to personally certify and guarantee the truthfulness of information and all disclosures. Our policy is to make reasonable inquiries to verify pertinent information on a Listing, but we also rely on the Landlord or their authorized rep  to make true statements and honest disclosures.

·                                 7. How will agent see the " no commission in the listing "

The posting of your property is exactly the same as if it was completed by a full service agent. Similar forms are used and the information is subject to the scrutiny of the real estate board and its MLS® rules. The forms basically indicate that you are not represented by a agent and are leasing / renting it privately.

·                                 8. Can we show our contact information on the listing?

No. Nowhere on the REALTOR.ca posting can the contact information of the Landlord appear. On the front end we will provide a link from the REALTOR.ca listing directly back to your full page listing on  www.bythelandlord.ca website where we are free to publish the contact information, photos, private website address and any other information you might have related to the private sale including any buyers agent incentives.

·                                 9. Why in some cases do you ask for a copy of our Assessment Property Valuation Information?

We need to be sure we have accurate information on the property. Errors in property details are not acceptable on REALTOR.ca. The easiest way to do this is to extract the information from the government supplied form.

·                                 10. Can you make changes to the listing once it is advertised on REALTOR.ca?

Yes.  Simple advise by email.. Changes usually take 48 hours to process and must be requested via our MLS® change request form. Contact us for this form.  No Charge

·                                 11. Should I let other agents show my property?

Sure why not, the property is being posted on MLS® so other agents will see it too, and while it is unlikely that a REALTOR�® will want to show your home to a tenant..  (unless you are offer some cooperation incentive to a tenants agent), you must allow REALTORS�® to show your space  if they ask permission to do so.   If you decide you want to work with local REALTORS�® in renting  your property you must be willing to pay them a fair fee for their work.   That fee is to be negotiated directly between the landlord / property manager and that agent that has brought an acceptable offer.   In most cases you may not be offering any incentive to a tenants agent so you would be offering only $1 as a commission (it’s a technical requirement because it can’t be zero).

·                                 12. Can you have your property appear on the on the REALTOR.ca website without going through a REALTOR�®?

No, but according to the new Consent Agreement between the Canadian Real Estate Association and the Competition Bureau, the public can post their property on MLS® when dealing with a REALTOR�®, or in our case, a posting brokerage that is a member of a local real estate board and therefore has access to the MLS® system and REALTOR.ca. In other words, you still need a REALTOR�® or Brokerage to officially post it to the MLS® system on your behalf and that listing is now technically called a “mere posting” meaning that the POSTING / LISTING agent does not represent you in the Lease of the property and it’s still officially “for Lease/ Rent by Landlord”.

·                                 13. How much commission will I pay the brokerage to list when selling privately. ?

There is no commission. We simply charge a flat MERE POSTING fee (depending on your location) based on the marketing services provided.  Simply choose your pacakge on www.PrivateRealtysellers.com

·                                 14. What area do you cover? What if my town is small or property is rural can I still can on REALTOR.ca?

GE Realty Inc. posts properties on REALTOR.ca for located anywhere in Canada.

·                                 15. I heard private Landlord / Property Manager can’t list directly on REALTOR.ca (MLS®). How do you make this happen?

We are  a licensed Real Estate Brokerage who are members of the Multiple Listing Service (MLS®), believe in fairness and have chosen to operate as a posting brokerage that fulfills a “Mere Posting” service on behalf of private Landlord / Property Manager like you. In part because the competition bureau helped open up the rules. A “Mere Posting” is the technical name given to a listing posted on the MLS® system that appears on REALTOR.ca but is for Lease/ Rent by owner not by an agent.

More

·                                 16. What is a Flat Fee Listing, MLS® Listing or Mere Posting In Canada?

Simply put… it’s a property listing that is for Lease/ Rent by owner but advertised on a Board’s MLS® System which is pushed to realtor.ca (formerly MLS.ca or ICX.ca and affiliate IDX�® sites, mobile sites and the smart phone app), on behalf of the private Landlord via a listing on a real estate Board’s MLS® System for a flat fee and with none of the any traditional agent services or commissions!

·                                 17. Do I have to offer a commission to a tenants agent?

No, you do not have to offer a cooperating broker commission. However, we do strongly encourage offering a commission because it will give any buying agents an incentive to show your property so you can get it leased as quickly as possible. But this is upto the Landlord.

·                                 18. Will my information be displayed on MLS/Realtor.ca?

MLS rules & regulations state no personal information can appear on their site. Leads will come to us and we simply forward them to you in real time. We do NOT call any leads from buyers or agents.  Our system is automated.

·                                 19. Who needs to fill out the paperwork?

The paperwork needs to be signed by the Landlord or authorized Property Manager of the property. We will also require copies of identification of all owners.

·                                 20. Do I have to list my property on www.bythelandlord.ca to gain access to MLS/REALTOR.CA?

Yes. www.bythelandlord.ca is the admin site of GE Realty Inc.  We also use this listing for additional information for your MLS/REALTOR.CA listing.

·                                 21. When will we get our sign?

At this time, we do not post or provide signs.

·                                 22. How long does it normally take to list my property on MLS?

1-3 business days, once we receive your COMPLETED paperwork.

·                                 23. What kind of paperwork is it?

Standard OREA listing forms that gives us permission to list your property on MLS / REALTOR.CA.

·                                 24. I need further help, who can I contact?

We're ready to help you with any issues or questions you have during the process of listing your property

·                                 25. How visible are basic listings?

We do not have basic listing.. meaning only posting on the admin site.  We place all properties on the Toronto Real Estate Board and Realtor.ca only.   In addition, by appearing on those site the property will go viral to every license real estate agent and brokerage company and thousands of private sites too.  We do not post on apartment type classified sites.. That is what we call basic. MLS will provide Ultimate exposure.

·                                 26. Are there any hidden fees to listing my property?

No!  None! Again, we operate on a flat fee basis.  You choose the amount offered to a buyer broker.

EliteProperties.ca is a website, operated by the brokerage Lokations Realty Inc. 

Take a look out our packages page to see how we can deliver the service you request.. at anytime, send us an email.

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