How to Understand the Real Estate Commission in BC
In Canada, the real estate commissions paid to real estate agents typically range
between 3% to 6% of the final purchase price, depending on regions.
In Greater Vancouver, a prevailing total commission is calculated as:
The first $100,000: 7%
The Balance of Price (after $100,000): 2.5%
Please see the following graph:
*Although there are no standard Realtor commissions in the market, there are common commission rate prevailing in the market. And in the MLS system, the Buyer agent's commission is usually indicated as 3.25% on the 1st 100k, 1.15% on the balance.
* In some cases, the Seller offers the Buyer's agent bonus commission, when the seller is more motivated in selling, and using special means to attract buyers.
Note that GST is applicable to commissions.