Q: Do I Have to Pay a Buyer's Agent Commission?
A: Yes. If a buyer has an agent you have to pay a commission if you accept the offer and property sells.
Q: How much commission do I need to offer to pay to a buyer's agent?
A: While there's no "standard" industry-wide rate, commission rates for home re-sales in BC are commonly 7% for the first $100,000 and 2.5% on the balance of the selling price. The commission is NOT negotiated on an agent by agent basis.
As an incentive for buyer's agents to show your home to their clients, we suggest offering roughly half of the typical commission, which works out to 3.255 % for the first $100,000 and 1.1625 % on the balance to ensure your listing receives attention from buyers' agents. Again to ensure your listing receives attention from buyers' agents, we suggest offering a full 2%-3% buyer's agent commission.
This commission is in addition to our non refundable payable upfront $499 plus GST listing fee and the $995 brokerage and administrative office fee, which is payable upon sale of your home.
Q: How will anyone know I'm offering a commission?
A: The commission you are offering will be stated in your MLS® listing contract and will be shown as part of your property's MLS® listing, which all Realtors® will see.
Q: If a Buyer does not have a Realtor® do I have to pay the buyer's agent commission?
A: No. If a buyer is not represented by an agent you will not have to pay buyer's agent commission.
Q: What is your sale processing fee?
A: Our administrative office deal fee is $995 plus GST payable only when your home sells and includes submission of all paperwork to the local Real Estate Board and your lawyer or notary.
Q: Do you provide any assistance in the drafting and reviewing offers?
A: We can only coach you in general so when the offer is received you can be ready to have the best response. We also provide legal contracts, clauses and paperwork so that you can sell with confidence, knowing your interests as a seller are protected.
Q: Do you schedule prospective buyer showings?
A: No, we leave the scheduling of showings to you. We will, however, send you all the contact details of interested buyers and agents via email or text message.
Q: On which BC Real Estate Board’s MLS® System my home could be listed?
A: We can list your property in any of the following Real Estate Boards:
BC Northern Real Estate Board -- Chilliwack and District Real Estate Board -- Fraser Valley Real Estate Board -- Kamloops & District Real Estate Association -- Kootenay Real Estate Board -- Okanagan Mainline Real Estate Board -- Powell River Sunshine Coast Real Estate Board -- Real Estate Board of Greater Vancouver -- South Okanagan Real Estate Board -- Vancouver Island Real Estate Board -- Victoria Real Estate Board
Q: What type of results can I expect listing my home on local Real Estate Board’s MLS® System?
A: According to statistics, 76.9% of the homes listed on MLS® system sell. However, please be aware that we cannot guarantee your property will sell. Price, location, interest rates and a number of other factors can impact how long it takes a home to sell.