Realtor fees - what is typical in BC?
Page 1 of 3 123 LastLast
Results 1 to 10 of 21

Thread: Realtor fees - what is typical in BC?

  1. #1
    Senior Member
    Join Date
    Aug 2010
    Location
    Vancouver, BC
    Posts
    646

    Realtor fees - what is typical in BC?

    So, if I'm buying & selling through the same realtor, what kind of rates are typical and to be expected? Apparently Ontario/east coast tends to use a fixed % rate ie. 5% of purchase price, but BC/west coast tends to use a % of first $ (ie. $100k) and a different % on the rest of the purchase price. Also, apparently the realtor will also have a portion of those rates go to the other agent involved as an incentive which I didn't realize. When it comes down to it, I want to know what a competitive rate is basically.


  2. #2
    Senior Member
    Join Date
    May 2009
    Posts
    2,260
    You could also try one percent realty to get the exposure without the huge commission costs.

    http://www.onepercentrealty.com/

    Otherwise it can be very costly like 7 percent on the first $100,000 and 3.5 percent on the rest.

  3. #3
    Senior Member
    Join Date
    Mar 2012
    Posts
    1,369
    It's what you negotiate with your realtor. They will tell you it's 7&3.5, but some will settle for less. You can also negotiate different rates for the listing agent and the buying agent. So, you may offer 3.5&1.75 for the buying agent but less for the listing agent. Some buying agents won't tell their clients about places with lower commissions for them...or so they say.

    It probably depends on the price of the property, and it's situation as well as how well you negotiate.
    I'm not JustAGuy (without spaces).

  4. #4
    Senior Member
    Join Date
    Aug 2010
    Location
    Vancouver, BC
    Posts
    646
    OK cool. It sounds like I'm doing alright then with 7 & 2.5 for the buy and the realtor won't be taking any fee on the sale. Sweet

  5. #5
    Senior Member
    Join Date
    Dec 2010
    Posts
    152
    The seller is the one who pays the fees (though usually that's reflected in the sales price anyway) and it is split between the two agents. Sometimes it's 50/50 split, other times it's not. Depends where you live. In my area it's usually 6% on the first 100K and 3% on the rest. Rates are usually a bit less for houses over a million. On occasion, a realtor will charge a buyer's fee as well. They're usually a few hundred dollars, if they exist at all.

  6. #6
    Junior Member
    Join Date
    Mar 2013
    Location
    Vancouver
    Posts
    7
    Hi Guys,

    We Realtors can't say there is a standard real estate commission because the federal gov't doesn't want to us to create the perception of one set rate. The feds also want consumers to know that real estate commissions in Canada are negotiable.

    What we can do is talk about what we individually charge.

    I for example charge 7% on the 1st $100K & 2.5% on the Balance.

    Here is a link to a commission calculator on my site for reference.

    Hope this helps!

  7. #7
    Senior Member
    Join Date
    Oct 2012
    Location
    Smithers, Bc
    Posts
    585
    Try Property Guys if you don't mind showing your home yourself, they charge about a 500 dollar flat rate for signs and listing on their webpage.

    http://propertyguys.com/

  8. #8
    Senior Member
    Join Date
    Oct 2010
    Posts
    1,518
    You don't need buying agent, how difficult it is to look up mls and than call the listing yourself, then when you are ready to make an offer start at a lower price since the seller is accounting for the buyer commission they would normally pay.

    In Ontario you can get full listing broker for 1% or flat fee, then you need to pay the buyers agent (usually 2.5%), you can also list for flat fee without any services provided by broker like property guys or comfree.
    Not sure why anyone would still pay the 5% or 7% fees for virtually nothing, I imagine in BC there are also more reasonable options than paying so much money for very little in return.

  9. #9
    Senior Member
    Join Date
    Oct 2012
    Location
    Smithers, Bc
    Posts
    585
    Ya its unbelievable the cost in BC versus what you get in return.



    Quote Originally Posted by Homerhomer View Post
    You don't need buying agent, how difficult it is to look up mls and than call the listing yourself, then when you are ready to make an offer start at a lower price since the seller is accounting for the buyer commission they would normally pay.

    In Ontario you can get full listing broker for 1% or flat fee, then you need to pay the buyers agent (usually 2.5%), you can also list for flat fee without any services provided by broker like property guys or comfree.
    Not sure why anyone would still pay the 5% or 7% fees for virtually nothing, I imagine in BC there are also more reasonable options than paying so much money for very little in return.

  10. #10
    Junior Member
    Join Date
    Mar 2013
    Location
    Vancouver
    Posts
    7
    Quote Originally Posted by Hawkdog View Post
    Try Property Guys if you don't mind showing your home yourself, they charge about a 500 dollar flat rate for signs and listing on their webpage.

    http://propertyguys.com/
    Real Estate as with everything else, you get what you pay for...


Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •