You can see the commissions of Metro Vancouver realtors (MAP)

You can now see the property sale commissions of Metro Vancouver realtors (MAP)

HouseSigma

The cost of paying a realtor their commission is far from an insignificant expense, especially when their commission is based on a percentage of escalating home prices.

To enable better transparency on this component of the complete home price, home listing website HouseSigma has launched a new feature that enables the public to see the listing’s commission percentage.

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“This percentage is how much the buyer’s agent will get when a property is sold. It’s a way for consumers to gauge where their real estate dollars are going,” reads a news release, noting that this also aligns with the province’s real estate regulator’s calls to make real estate information more readily accessible.

HouseSigma provided a random sampling of properties priced at $1.5 million in the region and the varying agent commissions. Based on this price, one agent for a property will earn $3,220 on the first $100,000 and another $16,100 when the sale is closed, another agent for a different property will earn $7,500 on the full sale, and a third agent will earn $3,255 on the first $100,000 and a further $16,275 for another property upon the sale’s finalization.

HouseSigma

Beyond the commission details, HouseSigma platforms also offer varying other features, including the estimated sale price that can guide buyers around properties that may attract bidding wars, potentially reducing the likelihood of blind bidding.

Buyers can also search for neighbouring addresses and see how that listing compares to other homes in the area.

Even terminated listings are shown on the platform, which uses artificial intelligence to show users delisted properties and their prices, and consumers can add it to their “watch list” in case the property returns to the market again.

Another helpful feature is the ability to see the relisted price so that prospective buyers can estimate how much to offer, based on both the platform’s estimate and the previous list price.

HouseSigma

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