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Thread: Becoming a realtor

  1. #11
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    It's been decades since I sold a property using the services of a realtor. But in British Columbia at the time, the custom was to pay 5% on the first $100,000 and 2% on the balance if the listing was exclusive and 7%/2% on an MLS listing.

    I do not know if it's true, but once upon a time it was rumoured that in Ontario (or at least Toronto) realtors charged 5 to 7% on the full gross amount! So a million-dollar sale meant a commission in the order of $50,000 to $70,000. Nuts.


  2. #12
    Senior Member the_apprentice's Avatar
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    As a realtor, I completely agree with what has been said. Many of my friends have failed at making real estate a full time career and have returned to their 9-5 jobs for the consistent pay. Although one should be cautious I am not here to discourage you. It is a very difficult career choice although can be extremely rewarding.

  3. #13
    Senior Member sags's Avatar
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    Quote Originally Posted by Mukhang pera View Post
    It's been decades since I sold a property using the services of a realtor. But in British Columbia at the time, the custom was to pay 5% on the first $100,000 and 2% on the balance if the listing was exclusive and 7%/2% on an MLS listing.

    I do not know if it's true, but once upon a time it was rumoured that in Ontario (or at least Toronto) realtors charged 5 to 7% on the full gross amount! So a million-dollar sale meant a commission in the order of $50,000 to $70,000. Nuts.
    Yes, a full 5-6% fee is what we paid on the 5 homes we owned and sold over the years.

    As our housing market was flat most of the time, that is why I always say we didn't make any money in real estate.

    After real estate fees, lawyers, moving expenses and disbursements, we were lucky to break even sometimes.

    Someone planted a tree a long time ago and now I sit in the shade.

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