Buyer’s agent gets paid by the seller. Buyer does not need to worry about paying their Real Estate Agent when buying a home! Mick will disclose to his clients any referral fees and remuneration he will receive or anticipate receiving prior to entering into a contract.
Listing agents get paid by the seller when they sell your home. There is no STANDARD commission. Listing agents can charge you in any structure they want. There are many creative fee structures, but typical commission structure is 7 – 8% on the 1st $100,000 and 2.5 – 3.5% on the remaining. Example: A Vancouver home sold for $1,000,000, you’d be charged $7000 – $8000 (7 – 8% on $100,000) plus $22,500 – $31,500 (2.5% – 3.5% on $900,000) = $29,500 – $39,500 plus GST.
Mick Lo Real Estate Charges these Non-Negotiable Rates
- 7% on the First $100,000 and 2.5% on the Remainder + applicable taxes
Leasehold Units and Co-op Properties Multiple Family Commercial properties
- 7% on the First $100,000 and 3.5% on the Remainder + applicable taxes