Read: 365 Rules about Real Estate . Seller agents in British Columbia usually set their commission using a graduated scale based on the final sale or transaction price of a property. We need to add $1,475 for GST on top of the realtor fee. Commission scales in B.C. Buyers agent receives 3.125% on the first $100,000 and 1.1625% … Each brokerage has its own commission rate. While this can save on your real estate commission, you should consider the risks and disadvantages that come with conducting a real estate transaction by yourself. We license individuals and brokerages engaged in real estate sales, rental and strata property managers. This is especially true for higher value properties because the graduated commission system in B.C. Seller’s agent commission in Kelowna: 3.5% on the first $100,000 and 1.75% on the remaining total. In this case, the agent will get the total commission. 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. “To say that they’re not being negotiated is false information,” says Sissy Lappin, a real estate broker in Houston and founder of ListingDoor.com, which provides marketing tools to sell your home without an agent. For example, in the Greater Vancouver Area, the typical total commission for a $500K property is $17,850 after tax. Buyer’s agent commission in Fraser Valley Area: 3.22% on the first $100,000 of the home price and 1.15% on the remaining total. Figuring out Realtor Fees while trying to sell a home or condo in BC is especially tricky when Realtors have a complicated commission rate structure. and pay more to market my listings online so they sell faster and for more. To help attract more Buyer’s realtor to show the Seller’s property, I typically offer 3.255% on the first $100,000 and 1.1625% on the balance of the sale price for properties to Buyer’s realtor. When helping a seller, I charge a Realtor Fee of 7% on the first $100,000 and 2.5% on the balance of the sale price for properties. The buyer pays the agreed upon purchase price plus their closing costs. In rare cases, if the seller lists the property by themselves or chooses not to give a buyer agent commission, the buyer may have to pay their agent the difference. Since Realtors charge different commission rates, you can also change the commission rate in the “Total Commission Split” box. Edit: October 22 2014. , 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. RECBC believes that a real estate professional can’t be truly loyal to two clients with competing interests. is seven per cent on the first $100,000 and three per cent on the rest (that’s standard, but agents can charge whatever they please). Unlike Ontario, this is banned in BC because of the possible conflict of interest. Once you reach this cap, your commission will move to 95/5. Regardless of location, RE/MAX agents are ready to support you however they can. A typical cap is around $23,000/year. Your agent works very hard behind the scenes to ensure that you are getting the best price for your property. When helping a seller, I charge a Realtor Fee of 7% on the first $100,000 and 2.5% on the balance of the sale price for properties. Yes! Here at RE/MAX Real Estate Center, our two main commission plans provide varying flexibility and competitive payout. 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. Flat-fee commissions can seem like a great way to save money, especially since they are usually cheaper than typical percentage-based commissions. Do I need to pay GST on the Realtor Commission? Wowa Leads, Inc. is proud to be an Equal Employment Opportunity employer. RE/MAX of Western Canada #340 1060 Manhattan Drive. Every Agent has the opportunity to earn a 95/5 commission split no matter what plan they choose. How real estate commission is split can vary depending on what the seller arranges with their agent. Buyer agents in B.C. Assumptions: 7% fee charged to the first $100,000 of purchase price, remaining balance charged fee of 2.5%, GST charged 5%. Some of the seller ’ s brokerage traditionally shares this commission/fee with the brokerage working for the seller s... 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