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The majority of sellers are unclear of how much commission they will have to pay and how much tax (GST/HST) would be payable on the real estate commission charge after the property sells. So we created a Real Estate Commission Calculator to clear up any confusion.
The Vancouver Real Estate Commission Calculator Assumptions: 7% fee charged to the first $100,000 of purchase price, remaining balance charged fee of 2.5%, GST charged 5%. Buyers agent receives 3.125% on the first $100,000 and 1.1625% on the balance. All results are calculated based on the input variables provided by the user, and assumptions that are believed to be reasonable.
For homes in Vancouver, we charge a real estate commission of 7% on the first $100,000 and 2.5 % on the remainder of the transaction price.
A buyers agent who delivers the seller an offer receives about half (3.125% on the the FIRST $100,000 and 1.1625% on the remainder).
According to Canada’s Competition Act, there we as Realtors are not supposed to say there is a standard real estate commission.