Each individual REALTOR® sets there own commission, below is an example of how the Commission works. Don’t be fooled by some deceptive ads that state “Commission as low As 1.5%”, They in a lot cases do not include the amount offered to the Co-Operating Broker.
Selling Commission
LISTING Sales Representative (My Commission), - Covers all services involved in the marketing of your home/condo as outlined on this site. Paid to the Listing Broker. This amount is negotiated at the time of listing and includes the amount offered for the Buyer Broker.
BUYER BROKER (Co-Operating Broker), In most cases the buyer broker is the one who brings the buyer (offer). Offering 2.5% or more is recommended to ensure the most amount of showing of your home/condo. This amount can be less, but is not advised. Paid to the Listing Broker and then in turn paid to the Co-Operating broker.
YOUR ACTUAL COST, - Actual amount of commission you will pay is the Listing amount plus the Buyer amount plus GST (HST starting July 1, 2010) of the final selling price of your home.
Buyer Commission
As a buyer, use of my service is included in the purchase price of the property, I am paid the percentage offered in the MLS listing, and is paid by the seller.
Rentals
Do you have a place to rent? I can help you get your tenant, Commission for a rental listing is 1 Month Rent plus taxes, 1/2 Month Rent is offered to the co-operating broker.
