Preparing to sell your property

There are so many things to consider when selling a property that some can be easily overlooked. Here are a few:

Your mortgage

When you decide to sell your property, it is important to check what impact this will have on your mortgage. For example, in most cases you will need to repay your mortgage loan and have the hypothec discharged. Repaying your mortgage early may carry a penalty that you will be required to pay at the time of selling. A mortgage broker can help shed light on this process.

Real estate agency, agency executive officer, real estate broker: there is a difference

  • A real estate agency: legal person or a company that carries out a brokerage transaction through a real estate broker.
  • Agency executive officer: When you do business with a broker who is affiliated with an agency, you are also doing business with the agency’s executive officer (AEO). The AEO is responsible for making sure your transaction goes smoothly. He can act as mediator in case of disagreement with your broker, or refer you to other resources if necessary. Do not hesitate to contact the AEO if you wish to clarify something, if you can’t get a hold of your broker, or in case of emergency.
  • A real estate broker: the person who will handle your transaction, working on his own account or on behalf of an agency.

Choosing a broker

  • Does the broker have a valid OACIQ licence?
  • Does his record contain administrative references or has he been the subject of disciplinary action?
  • Does he know your sector?
  • How do his services differ from those of other brokers?
  • How does he plan to promote your property?
  • How many properties has he sold in your sector in the last year?
  • Is he available?
  • What costs should you expect to pay?


To help you choose a broker, verify the validity of a broker’s licence and his history using the tool Check a broker’s record on the website. There you can see a broker’s areas of expertise and whether he has ever been the subject of a disciplinary decision or a licence suspension.


A broker’s rate or percentage of remuneration is not set by the Real Estate Brokerage Act or the OACIQ, or by any other legislation.

A broker’s remuneration, called a commission, is based on free competition. It is generally set as a percentage of a property’s selling price and normally paid out at the signing of the deed of sale. It can also be a lump sum or an hourly rate, and paid as soon as the services are rendered. This is something you will discuss with your broker, as this information must be spelled out right from the start in your contract


The broker undertakes to share his remuneration with the buyer’s broker, if the buyer is represented.

If the buyer has also opted to do business with a broker, remuneration sharing conditions will be discussed. A portion of the remuneration amount indicated on your brokerage contract will be paid to the buyer’s broker. This information must be included in your brokerage contract.

If the buyer is not represented by a broker, your broker will not be required to share his remuneration, since he is acting as intermediary between you and the buyer. Your broker must provide fair treatment to the buyer, while fulfilling his obligation of loyalty to you.

For more details, please see the Buyer’s Guide.

Expenses to plan for

The following table will help you calculate the various expenses you need to plan for when selling your property, including the cost of any necessary repairs prior to the sale, a new certificate of location if yours is no longer valid, moving costs, etc.

Broker remuneration


Evaluation (if applicable)


Notary (mortgage cancellation fees, etc.)


Early mortgage repayment (penalty)


Mortgage discharge


Adjustment of various applicable taxes


Rent (if occupying after sale)


Other expenses, if applicable (e.g.: certificate of location)


Preparation costs (systems verification, cleaning, painting, maintenance and repairs)


Total selling expenses