When selling your home, you have two types of real estate listings from which to choose:
Exclusive Listings
If you choose an exclusive listing, then only agents of the real estate firm with which you contract can sell your property for the duration of the listing agreement. The agents and their firm receive the full commission, which is typically 5% or 6%.
Multiple Listing Service (MLS*)
MLS is a nationwide electronic "bulletin board" of all properties currently on the market-which means those properties have broader reach and more exposure. Any buyer in Canada can access your listing online and any associated agent in Canada can sell your house. You will pay a somewhat higher commission rate (6% to 7%) for this considerably wider reach. The listing agent, the buyer's agent and their respective real estate firms divide the commission equally.
*MLS is a registered trademark of the Multiple Listing Service
