Real Estate Agent Commission
You might be surprised to hear REALTOR® commission rates are not standardized. In fact, the Competition Bureau forbids it! In British Columbia real estate agents must carry a license but the licensing associations do not set the fees Realtors charge.
Sellers’s rate Package
It’s traditional for the home seller to pay both the buyers and sellers real estate agents fees, for real estate listings posted on MLS. Although the variety of services offered by each individual Realtor vary. They can vary from a mere posting service to full custom luxury development marketing! There is a wide range of real estate service providers to choose from.
Our sellers rates are 7% on the first $100,000 and 2.5% on the balance of the sale price paid upon closing. This includes our recommended buyers agent rate is 3.225% on the first $100,000 and 1.1625% on the balance. All our sellers packages include a customized marketing plan, professional photography and personal representation. You can learn more by visiting our sellers page. https://eliseweatherbyrealestate.ca/sellers/sell-with-elise/
Buyer’s rate package
Buyer’s representation fees may be covered under the umbrella of the seller’s rates. In other words as a buyer you can get your own Realtor without directly paying the real estate agent commission.
If a co-operating seller’s brokerage is offering below our buyer representation rate or in the case where the seller is unrepresented (for example a for sale by owner) our buyer representation rate is 3.225% on the first $100,000 and 1.1625% on the balance of the sale price paid upon closing.
Fixing of Real estate agent fees is not permitted in British Columbia. Each agent must offer their own services package and rates. Many people assume all Realtors are the same but nothing could be further from the truth. The range of agents and services they provide is as diverse as the clients they serve! For a full list of closing costs read our estimated closing costs. Call today and book an appointment to see how our service packages may suite your real estate needs.