Real Estate Agent Charges
May 30th 2006, 12:58 pm
#1
Forum Regular
Thread Starter
Joined: Jan 2006
Location: Armstrong BC
Posts: 70
Real Estate Agent Charges
Hi,
Do Real Estate Agents in Canada charge buyers for their services in finding a property? I was under the impression that agents got their fees from the seller of the property for finding a buyer.
Have been put in touch with an agent for our impending move to Vernon, BC. She is offering her relocation services and when I enquired if there was a fee involved she said that when working with buyers her normal fee is 3.5% of the first 100K then 1.75% on the balance.
Is this normal for a relocation service? I know Frank and Sue at relocation2bc.com in Vancouver offer this service for free.
Cheers,
Roy
Do Real Estate Agents in Canada charge buyers for their services in finding a property? I was under the impression that agents got their fees from the seller of the property for finding a buyer.
Have been put in touch with an agent for our impending move to Vernon, BC. She is offering her relocation services and when I enquired if there was a fee involved she said that when working with buyers her normal fee is 3.5% of the first 100K then 1.75% on the balance.
Is this normal for a relocation service? I know Frank and Sue at relocation2bc.com in Vancouver offer this service for free.
Cheers,
Roy
May 30th 2006, 1:07 pm
#2
Joined: Apr 2005
Posts: 9,606
Re: Real Estate Agent Charges
Originally Posted by glenlivet
Hi,
Do Real Estate Agents in Canada charge buyers for their services in finding a property? I was under the impression that agents got their fees from the seller of the property for finding a buyer.
Have been put in touch with an agent for our impending move to Vernon, BC. She is offering her relocation services and when I enquired if there was a fee involved she said that when working with buyers her normal fee is 3.5% of the first 100K then 1.75% on the balance.
Is this normal for a relocation service? I know Frank and Sue at relocation2bc.com in Vancouver offer this service for free.
Cheers,
Roy
Do Real Estate Agents in Canada charge buyers for their services in finding a property? I was under the impression that agents got their fees from the seller of the property for finding a buyer.
Have been put in touch with an agent for our impending move to Vernon, BC. She is offering her relocation services and when I enquired if there was a fee involved she said that when working with buyers her normal fee is 3.5% of the first 100K then 1.75% on the balance.
Is this normal for a relocation service? I know Frank and Sue at relocation2bc.com in Vancouver offer this service for free.
Cheers,
Roy
May 30th 2006, 1:42 pm
#3
Nova Scotian
Joined: Dec 2004
Location: Lawrencetown, NS
Posts: 96
Re: Real Estate Agent Charges
As far as Real estate the home seller covers all agent costs. The only expense to the buyer is costs for inspections, their legal representation and tests (water etc). Basically as per the UK.
International relocation services for Real Estate is no different and you should not be charged.
Caution, "Relocation Services" can be a very loose term to cover up unqualified businesses or simple "referral fee" middle men who then pass your details to Real Estate companies. In these situations, you are paying for it even if you don't see the money coming directly out of your pocket. Always ensure that you are dealing directly with qualified and licenced agents.
Buyer beware!
International relocation services for Real Estate is no different and you should not be charged.
Caution, "Relocation Services" can be a very loose term to cover up unqualified businesses or simple "referral fee" middle men who then pass your details to Real Estate companies. In these situations, you are paying for it even if you don't see the money coming directly out of your pocket. Always ensure that you are dealing directly with qualified and licenced agents.
Buyer beware!
May 30th 2006, 3:12 pm
#4
Class 1 Driver and Nurse
Joined: Feb 2005
Location: Kentville, N.S.
Posts: 1,498
Re: Real Estate Agent Charges
Originally Posted by BH PNP
As far as Real estate the home seller covers all agent costs. The only expense to the buyer is costs for inspections, their legal representation and tests (water etc). Basically as per the UK.
International relocation services for Real Estate is no different and you should not be charged.
Caution, "Relocation Services" can be a very loose term to cover up unqualified businesses or simple "referral fee" middle men who then pass your details to Real Estate companies. In these situations, you are paying for it even if you don't see the money coming directly out of your pocket. Always ensure that you are dealing directly with qualified and licenced agents.
Buyer beware!
International relocation services for Real Estate is no different and you should not be charged.
Caution, "Relocation Services" can be a very loose term to cover up unqualified businesses or simple "referral fee" middle men who then pass your details to Real Estate companies. In these situations, you are paying for it even if you don't see the money coming directly out of your pocket. Always ensure that you are dealing directly with qualified and licenced agents.
Buyer beware!
The unscrupulous relocation agents are worse, they charge you for for giving you a name/information that you can get out of the phone book/on a website
Last edited by andy_sheila; May 30th 2006 at 3:15 pm.
May 30th 2006, 3:18 pm
#5
Lost in BE Cyberspace
Joined: Sep 2004
Location: Windsor, ON; Chicago, IL
Posts: 6,713
Re: Real Estate Agent Charges
Originally Posted by glenlivet
when I enquired if there was a fee involved she said that when working with buyers her normal fee is 3.5% of the first 100K then 1.75% on the balance.
May 30th 2006, 3:36 pm
#6
BE Forum Addict
Joined: Apr 2005
Location: The Republic of Bacon
Posts: 3,192
Re: Real Estate Agent Charges
Originally Posted by glenlivet
Hi,
Do Real Estate Agents in Canada charge buyers for their services in finding a property? I was under the impression that agents got their fees from the seller of the property for finding a buyer.
Have been put in touch with an agent for our impending move to Vernon, BC. She is offering her relocation services and when I enquired if there was a fee involved she said that when working with buyers her normal fee is 3.5% of the first 100K then 1.75% on the balance.
Is this normal for a relocation service? I know Frank and Sue at relocation2bc.com in Vancouver offer this service for free.
Cheers,
Roy
Do Real Estate Agents in Canada charge buyers for their services in finding a property? I was under the impression that agents got their fees from the seller of the property for finding a buyer.
Have been put in touch with an agent for our impending move to Vernon, BC. She is offering her relocation services and when I enquired if there was a fee involved she said that when working with buyers her normal fee is 3.5% of the first 100K then 1.75% on the balance.
Is this normal for a relocation service? I know Frank and Sue at relocation2bc.com in Vancouver offer this service for free.
Cheers,
Roy
Sounds to me like her 'half' of any property deal. There are usually two agents involved - the listing realtor; ie: the one who's selling the property and acting on behalf of the owner, and the buyers realtor, who finds the place and brings you to it. The commission is split equally between the two (in normal circumstances).
Jun 1st 2006, 7:31 am
#7
Forum Regular
Thread Starter
Joined: Jan 2006
Location: Armstrong BC
Posts: 70
Re: Real Estate Agent Charges
Hi,
And thanks for all your replies. Yes Biiink, you are quite correct. I got an apology from the Real Estate Agent for not explaining the fees correctly. This is what she would be expecting in commisson from the seller of the property. She did point out that in rare occasions when the commission offered by the seller is less than the norm, then the buyer might be approached and a payment might be negotiated but this is not very common. Sounds fair enough.
Cheers,
Roy
And thanks for all your replies. Yes Biiink, you are quite correct. I got an apology from the Real Estate Agent for not explaining the fees correctly. This is what she would be expecting in commisson from the seller of the property. She did point out that in rare occasions when the commission offered by the seller is less than the norm, then the buyer might be approached and a payment might be negotiated but this is not very common. Sounds fair enough.
Cheers,
Roy
Originally Posted by Biiiiink
Has she actually said that *you* would be paying that though? From what you say it sounds like she was telling you that that's what she'll earn from your purchase, but it'll come from the seller not you.
Jun 1st 2006, 4:33 pm
#8
Forum Regular
Joined: Jan 2006
Location: Victoria BC
Posts: 202
Re: Real Estate Agent Charges
Originally Posted by glenlivet
Hi,
Do Real Estate Agents in Canada charge buyers for their services in finding a property? I was under the impression that agents got their fees from the seller of the property for finding a buyer.
Have been put in touch with an agent for our impending move to Vernon, BC. She is offering her relocation services and when I enquired if there was a fee involved she said that when working with buyers her normal fee is 3.5% of the first 100K then 1.75% on the balance.
Is this normal for a relocation service? I know Frank and Sue at relocation2bc.com in Vancouver offer this service for free.
Cheers,
Roy
Do Real Estate Agents in Canada charge buyers for their services in finding a property? I was under the impression that agents got their fees from the seller of the property for finding a buyer.
Have been put in touch with an agent for our impending move to Vernon, BC. She is offering her relocation services and when I enquired if there was a fee involved she said that when working with buyers her normal fee is 3.5% of the first 100K then 1.75% on the balance.
Is this normal for a relocation service? I know Frank and Sue at relocation2bc.com in Vancouver offer this service for free.
Cheers,
Roy
Real Estate Agent make their money off the seller not the buyer in BC most agents charge the seller around 7% which is negotiable. Never should an agent charge a buyer if this agent wants to charge you run and run fast to a different agent and report her to the Real Estate Board for bad ethics.
Island Girl
