What Is Included in Real Estate Fees?
If you’re thinking about selling your home, you’ve probably wondered about the cost of hiring a real estate professional and if it is worth the investment.
Here’s a breakdown of traditional REALTOR® fees:
What are typical REALTOR® fees?
Standard real estate commissions are set at 7% on the first $100,000 of list price and 3% thereafter. Those fees will be divided up amongst the team that facilitated the sale of your property, including: the listing agent, the selling agent, any referral partners, including out of province REALTORS®, and each of our support teams.
What’s Included?
Ultimately what’s included will be determined by your choice of Real Estate Professional. As a REALTOR®, our primary responsibility is to represent our clients as their Fiduciary. It is an obligation we take very seriously, and your preferred REALTOR® should too.
Beyond that, here are some things you should expect from your chosen REALTOR®.
- Market Analysis & Pricing Strategy – The right REALTOR® for you will be knowledgeable about market trends in your neighbourhood; pricing strategies that will attract the right buyers; and the patience to walk you through all of these things at a pace that works for you.
- Marketing & Advertising – Support in Staging your Property; Obtaining Professional Imagery; Listing your property accurately on the MLS database; Sharing your listing with our networks; Social media promotions; and beyond.
- Negotiation – Representing your best interests during offers and counteroffers is our responsibility as REALTORS® but arriving at the best result on your behalf can often take a skilled negotiator who has built a trusted reputation.
- Legal & Paperwork Assistance – Ensuring contracts, disclosures, and legal documents are completed accurately and in a timely manner.
- Guidance & Expertise – Helping you navigate inspections, appraisals, and the closing process.
Are REALTOR® Fees Negotiable?
While these commission rates are pretty common, there are discount brokerages available. That’s not our business model, and we would recommend you go into that type of situation with eyes wide open. Often, the old adage holds true, “you get what you pay for”.
We have been in this business for over 16 years and have built a respected reputation, serving clients with empathy, integrity and a commitment to service excellence. If you don’t already have a real estate professional representing you, we would be honoured to earn your trust and represent you.
If you’d like to learn more about how the fees work, we are happy to offer a complimentary consultation.
If you’d like to do some more research, here are some recommended links for more information: