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Selling a property in Ontario? Etiquette?

I'm looking to sell a property my family owns in Ontario. It is a very old home, possibly with historical significance in a half decent neighbourhood. Unfortunately, the house is in very poor condition and will need to be gutted, potentially with some structural work done. There's definitely a great deal of potential for the place, but it will require a lot of money, dedication and love to actualize that potential.

Here's the problem.

One member of the family is adamant the house is worth nearly triple what everyone else thinks it is worth. This is causing some major headaches as we're going forward, especially since he is also adamant the whole real estate industry is corrupt.

The compromise we came up with is to have three separate real estate agents/companies give us an assessment/estimate of the value of the house as well as what they think they can get for it. Hopefully they all come back in the same ballpark and this person will stop being a problem.

So…

1. Is it ethical to have 3 different real estate companies come in for an assessment knowing we can only go with one?

2. Do real estate companies charge for this service? Do they “refund” this fee if you choose to list with them?

Thanks and my apologies for being tl;dr.

Park Your License to Park Your Real Estate Licence wherever you live or work in Ontario with a Real Estate License Holding Company Brokerage

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