Commission Calculator for Realtor® Fees
Realtor with 2% Realty
Navigating Realtor® fees in Calgary can seem like a complicated task. With different commission structures and varying services, understanding what you’ll pay and what you’ll get in return is crucial. This post aims to shed some light on the subject and demonstrate how 2% Realty’s commission model can lead to significant savings while providing you with industry best service. Use our simple commission calculator for Realtor® fees BELOW to see the results.
Realtor® fees in Calgary are not one-size-fits-all. They can vary depending on the brokerage and the service provided. The typical market rate is 7% on the first 100k and 3% on the remaining balance + GST. The Seller is responsible for paying both the listing and buyers agents commission.
Let’s dive into the various commission calculations in Calgary’s real estate market and discover how 2% Realty’s model stands out in terms of savings and service.
Realtor® fees in Calgary are not standardized, meaning they can vary depending on the brokerage and the services provided. It’s important for homeowners to understand that although fees are technically negotiable it will be difficult to find a brokerage that will substantially reduce their fees from their brokerage rate. However, there are now lower commission brokerages that offer sellers the opportunity to save on fees. Use our commission calculator for Realtor® Fees to see results.
The seller is responsible to pay the commission fees for both the listing and buying agent. A common misconception is that commission fees are free for buyers, but in reality their agent fees have already been built into the listing price. For this reason homes sold on the MLS® generally sell for 2-4% more than homes sold privately.
In Calgary, a common commission structure you might encounter is a split fee model. This often involves charging a certain percentage on the first $100,000 of the sale price and a different percentage on the remainder. For example, a 7% fee on the first $100,000 and 3% on the remaining balance is the fee structure used by some traditional brokerages in Calgary.
Under this split fee structure, if a home sells for $550,000, the total realtor fees would be calculated as $7,000 (7% of the first $100,000) plus $13,500 (3% of the remaining $450,000), totaling $20,500 plus GST. These fees are typically split evenly between the seller’s and buyer’s agents.
2% Realty’s Commission Model: 2% Realty simplifies this by charging a flat 2% commission rate on the final sale price. For instance, on a $550,000 sale, the total commission with 2% Realty would be $11,000 split between both agents, a stark contrast to the $20,500 with the traditional model. It is important to note that this represents the maximum savings possible. Some negotiated deals may lead to a hybrid fee outcome, with a slightly higher fee for the buyers agent. However, savings over the traditional model are a guarantee non the less.
2% Realty Fee: $0
Traditional Fee: $0
As we have covered Calgary does not have a standardized commission model. Using the commission calculator for Realtor® fees you can see there are different outcomes possible. This will depend on the choice the homeowner makes and the terms of their sale. Fee outcomes are based on your choice of brokerage or what terms your Realtor® can negotiate for you based on market conditions. It’s important to note that commission rates in Canada are all subject to negotiations.
It’s important to note that no matter what outcome occurs, when you list with 2% Realty your 1% listing fee is guaranteed, and our aim is always to negotiate the best terms of sale for the homeowner.
With more than 17 years in the Calgary real estate sector, Erick offers an extensive knowledge base and expertise to each client he assists. Serving as a committed associate of 2% Realty for over ten years, he blends his marketing expertise with a sincere passion for exceeding client expectations. Erick’s remarkable success is demonstrated by his achievement of the Top Platinum Producer award for eight consecutive years.
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