pinkpanther

Can someone explain how realtor fees work in BC if you are selling your house. I understand that they are around 6% but is that just on a portion of your house value and it is capped? Thanks

Novocastrian

You're in BC? Why ask us? In ON the standard realtor commish is 6%...paid by the vendor. But it's negotiable, (downward) ie in practice, it's capped. If someone wants more, sack 'em.

pinkpanther

I'm asking here because I thought someone might have experience in selling their home in Canada. I don't want to make it public knowledge amongst my friends yet and I'm not going to go straight and ask the realtor because they will probably inflate everything.

I found something on the internet that said 6% on the first $100K and then 3% on the rest - does that sound about right?

dingbat

Yes that's about right...some ask for 7%/$100,000 + 3%/residue unless you do a deal with the realtor or use the One Percent people. I did a deal and am selling mine for a reasonable flat fee. There is a realtor in your area who is a crook and a shark...PM me if you want the name. Avoid him at all costs.

Almost Canadian

Just the one ! That's it I'm heading for BC

Frank'n Sense

Hi,
As a realtor in BC I can help you. We mostly act as buyers agents (and buyers don't pay for this service of course). But listing agents charge rates around the 7% for first $100,000 and 2.5% on the balance - at least in Vancouver. This is negotiable and you can get a lower commission if you push for it.

If you don't know a realtor then you should get a few (say 3) in to present to you. They'll value your home and make a case for the commission they charge.

Choose the one that you like and not necessarily the one with the highest valuation - in the trade this is known as "buying the listing" - over-valuing it and then getting a price reduction later on. Their marketing plan will also be of interest. In my opinion most marketing is pretty much the same, but you should be able to tell if the realtor is going to be actively marketing - and some of the big name realtors are frankly too busy to do that much themselves.

Let me know if I can help further.

Warmly,

Frank

Canada Jane

Do you know if that is a flat rate, or like BC for the first $100k then reduced for remainder?