Yes that is correct, that is the current "standard rate" been like that for awhile now. Although there is no set rate, this what what most realtors charge their clients. Anything more, the agent will have to justify why.
I'm a realtor myself and that is what I charge my sellers.
Quote:
Originally Posted by Gumby
According to the Real Estate Board of Greater Vancouver, there is no set commission rate!
However, I just sold my house in April, and we used the "standard" rate:
Commission = 7% on first $100k and 2.5 on remainder
Buyer's agent gets 46.5% of the commission + HST
Seller's agent gets 53.5% of the commission + HST (because he has more expenses than the buyer's agent, my agent had to pay his agency + REBGV for listing on MLS)
All of this can be negotiable...
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