What Are Realtor Commissions?
Understanding realtor commissions can be crucial to making informed decisions when buying or selling a home in Surrey, BC . This guide will explain realtor commissions , their work, and why they matter to you. We'll also discuss Surrey home evaluation and how to choose the right realtor for your needs. Realtor commissions are fees paid to real estate agents for helping you buy or sell a property. These fees are usually a percentage of the property's selling price. In Surrey, BC, these commissions can vary but are typically around 5-7% of the sale price, split between the buyer's and seller's agents. How Are Commissions Calculated? Commissions are generally calculated as a percentage of the home's final sale price. For example, if your house sells for $500,000 and the commission rate is 5%, the total commission would be $25,000. This amount is usually divided equally between the buyer’s agent and the seller’s agent, meaning each would receive $12,500. ...