Compared to commissions in other regions, real estate commissions in B.C. The average combined real estate agent commission is 3.5% to 5% of the total selling price, which is then split between the buyer’s and seller’s agents. In B.C., buyer and seller real estate agents charge a graduated commission based on the transaction value that usually ranges between 3% to 4% for the first $100,000 of a property's price and between 1% to 2% for the remaining total. Therefore, the total Real Estate Commission I would receive is 3.745% on the first $100,000 and 1.3375% on the balance of the sale price for properties. There’s no set commission rate for real estate agents in Canada, so this is a good question to ask. Your agent works very hard behind the scenes to ensure that you are getting the best price for your property. Founded in 1973, the RE/MAX franchise has more than 120,000 agents worldwide in over 100 territories and countries as of 2019. Point59 Realty really does charge just .59% commission on the sale of your house, with no up front fees. Sam Huang PRECReal Estate Coal HarbourRE/MAX Crest RealtyAddress: 708-1155 W Pender St, Vancouver, BC, V6E 2P4, Canada, Phone: 778-991-0649WeChat: ubchomesQQ: 2870029106Email: Contact Me, © Copyright 2021 Real Estate Coal Harbour. Depending on your prior year’s gross commissions, you’ll then pay 20%, 30%, or 40% of each commission to the brokerage until your RAPP contract is paid off. Buyer’s agent commission in Greater Vancouver Area: 3.125% on the first $100,000 of the home price and 1.1625% on the remaining total. There is no standard commission and the typical commission for the seller agents varies between different cities in British Columbia. Buyer’s agent commission in Victoria Area: 3% on the first $100,000 of the home price and 1.5% on the remaining total. Each brokerage has its own commission rate. Each agent can choose their own commission type and rate or fee. How real estate commission is split can vary depending on what the seller arranges with their agent. If you want to figure out the BC realtor fees when selling a home, just put in the estimated selling price of your home in the “Offer Price” box, and it will automatically calculate the Realtor fees you need to pay when selling a home. To calculate the commission amount, let’s assume the sale price of a house is $1,000,000. I charge 4.5% commission max. How to negotiate realtor commission. In almost all cases, the home seller pays the commissions of both the seller and buyer real estate agents. You will probably find that most agents will want to get a commission rate somewhere between 4 percent and 7 percent, depending on your particular area. Our Commission Rate. While most agents stick to commonly used commission rates in their region, commissions will vary between different cities in British Columbia and are up to the individual buyer agent to determine. Canada’s Competition Act explicitly forbids real estate agents and the real estate industry from setting or claiming a standard commission rate. As stated in the Competition Act of Canada, Realtors in BC and the rest of Canada, there’s no “Standard Realtor Fee”, or “Standard Realtor Commission.” As such, each Real Estate brokerage office and Realtor in Vancouver have their own Realtor fee. Once you reach this cap, your commission will move to 95/5. I charge a real estate commission of 7% on the 1st $100,000 and 2.5% on the balance of the sale price for properties in Vancouver. Municipalities in the Fraser Valley include: Abbotsford, Chilliwack, District of Mission, District of Hope, District of Kent, Village of Harrison Hot Springs. Although British Columbia’s real estate commission rates are one of the lowest in the country, homeowners ultimately end up paying a comparatively higher real estate commission due to the higher average selling price of homes. He told me that if I there’s is a buyer willing to pay him 1.2 million he is prepared to sell his home. It’s important to remember that cheaper isn’t necessarily better. Regional: 250-860-3628 Find Nearest RE/MAX Office It’s enough for us to get the job done and getting the job done is what we are all about – not the fluff and BS you’ll get from other brokerages. Real estate transactions are still able to be conducted in many markets with new safety measures put into place. All Rights Reserved. The seller’s brokerage traditionally shares this commission/fee with the brokerage working for the buyer. Box 12188 Austin, TX 78711-2188 VIEW MAP Follow Us Flat-fee commissions can seem like a great way to save money, especially since they are usually cheaper than typical percentage-based commissions. The commission rate is neither fixed by law nor by any real estate board; it is negotiable between you and the real estate professional you engage to help you. Don's commission structure is 6% on the first $100,000 of the purchase price and 3% on the balance. and pay more to market my listings online so they sell faster and for more. A double-ended deal is when one agent represents both the seller and the buyer. , Realtors in BC and the rest of Canada, there’s no “Standard Realtor Fee”, or “Standard Realtor Commission.” As such, each Real Estate brokerage office and Realtor in Vancouver have their own Realtor fee. Commission charged by RE/MAX Realtors - RE/MAX Times Article - “Be worth what you charge” 60 minutes video clip showing the average commission rates in the US & most of Canada are 6% straight across - or 30,000 for a $500,000 sale - Our rates in Vancouver are … There are many additional closing costs involved in selling a home including lawyer fees, penalties from closing out a mortgage too early, as well as legal fees. 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