Seller's Guide
The Real Cost of Selling a House in Quebec
Most sellers calculate their net proceeds like this: sale price, minus the mortgage balance, minus broker …
Real estate is full of received wisdom that has never been tested against evidence. Here are the seven most persistent myths, and what the data actually says.
Myth 1: “The asking price is what the seller wants”
Sometimes. Often, the asking price is a strategic number designed to achieve a specific market response. An underpriced property is designed to generate multiple offers. An overpriced property is the seller testing whether someone will pay a premium. Understanding which category you are dealing with requires comparables analysis, not assumption.
Myth 2: “You should always offer below asking”
This advice made sense in a buyer’s market with stale inventory. In a competitive market, offering below asking on a well-priced property produces a losing offer, not a deal. The right offer is the one supported by comparables analysis. Sometimes that is below asking. Sometimes it is at or above.
Myth 3: “The inspection is a negotiating tool to get a price reduction”
This misunderstands the purpose of an inspection. The inspection is due diligence to understand what you are buying. If it reveals a problem, you have a decision to make: negotiate a price adjustment, request a repair, or walk away. But going into an inspection with the intention of finding something to negotiate on, regardless of the actual condition, creates bad-faith dynamics that experienced sellers and their brokers recognize immediately.
Myth 4: “Spring is always the best time to buy”
Spring has the most activity. More activity does not automatically mean better conditions for buyers. Spring also has the most competition from other buyers. The best time to buy is when you find the right property at a price supported by the data, combined with favorable personal circumstances. That can happen in October or January as easily as in April.
Myth 5: “New construction is always safer than resale”
New construction carries the GCR warranty, which is valuable. It does not carry the decades of operational history that allows a seasoned inspector to identify patterns and failure modes. New construction defects are real, they occur, and they are sometimes more difficult to identify during the first inspection because the building has not yet experienced a full weather cycle or the kind of use that reveals weaknesses.
The GCR warranty provides recourse. That is not the same as certainty.
Myth 6: “You need a 20% down payment to buy”
There is a full article on this one. The short version: CMHC insurance allows qualified buyers to purchase with as little as 5% down. The insurance premium adds cost, but waiting years to accumulate 20% in an appreciating market often costs more in foregone appreciation than the insurance premium is worth. Run the specific numbers for your situation.
Myth 7: “The seller’s broker is on your side too”
In Quebec, a broker has a legal obligation to represent the party that retained them. The listing broker works for the seller. They are required to be honest with you, but they are not your advocate. If you are a buyer in a transaction, you need your own representation.
Buying directly from a listing broker without your own representation is not a way to save on commission. The listing broker’s commission is paid by the seller regardless of whether the buyer is represented. You receive the same price either way, with or without an advocate on your side.
Questions about how any of these dynamics apply to a specific situation you are navigating? Let’s talk.
Georges Matar
Residential Real Estate Broker · RE/MAX DU CARTIER INC.
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