Realtor Fees in BC

Realtor fees are the method by which your realtor makes his or her living. When you buy or sell a home, your realtor takes a percentage of the sale. The amount of these fees differs from area to area and between realtors; realtors are independent contractors and are free to set their own rates. British Columbia is no different.

Realtor fees in British Columbia

Realtors can set their fees as low as they like, but there is an upper limit set by law. Most realtors in the area charge differing percentages based on the cost of your home. For example, a common realtor fee in British Columbia is seven percent for the first $100,000 of home value, and then two and a half percent for the balance of the value.

Negotiating realtor fees

As mentioned above, realtor fees are set by the individual realtor. This means that if you speak with your realtor, you may convince him or her to use a lower rate. A lower realtor fee means that you make more profit from the sale of your home or pay less when you purchase your new home.

Realtor fees in British Columbia are no different from realtor fees anywhere else in North America. While the largest fee that is charged is set by law, a realtor is free to reduce his or her fee. Most realtors charge around six or seven percent, but, with negotiation, you may manage a lower fee.