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Erick Dillmann
Top Realtor® with 2% Realty
We believe fees should be simple, so try our Realtor® fees calculator for Calgary and discover how easy it is to save on commission. Ditch the old fees!
Navigating Realtor® fees in Calgary can seem like a complicated task. With complex commission structures understanding what you’ll pay and what you’ll get in return is crucial. We aim to keep things simple and demonstrate how 2% Realty’s simple commission model can lead to significant savings while providing you with industry best service. Use our simple Realtor® fees calculator for Calgary BELOW to see the results.
Realtor® fees in Alberta 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. Some charge 8.5% or even 10.5% on the first 100k. Currently in Canada the Seller is expected to pay both the listing and buyers agents fees.
Let’s dive into the typical commission calculations in Calgary’s real estate market and discover how 2% Realty’s model stands out in terms of simplicity, savings and service.
About Realtor® Fees in Calgary
Understanding Realtor® Fees in Calgary
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 Realtor® fees calculator to see the results.
In Canada the seller is expected 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. However, building fees into the price is no guarantee the Seller will actually recover the costs, especially in a softer market.
IMPORTANT: No matter what anyone tells you, legally all commissions in Canada are NEGOTIABLE!
Legacy Commission Structures:
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 legacy brokerages in Calgary. Some make their splits more complex and take a higher percentage for the listing side such as 4.5% on the first 100k.
Calculating Fees with the Legacy Models
Under this out dated 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. It is important to note that this represents the maximum savings possible. Because commissions are negotiable, some deals may lead to a hybrid fee outcome, with a negotiated fee for the buyer agents portion.
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*All Realtor® Fees are subject to GST. The higher the Fee the more tax you will pay!
Using the Realtor® fees calculator for Calgary you can see there are different outcomes possible. This will depend on the choice the homeowner makes and the terms of their sale.
- 2% Realty Fee payable at 1% for the listing agent and 1% for the buying agent, this represents the most desired outcome and the aim of every 2% Realty agent.
- Legacy Fee payable at 7%-8.5% on the first 100k and & 3% on the balance split between listing and buying agent. This is a common fee structure offered by many legacy brokerages.
- Hybrid Fee* a homeowner listed with 2% Realty pays 1% to the listing agent, with a negotiated fee for the buyer’s agent. Savings over legacy fees are still guaranteed.
ULTIMATELY REALTOR® FEES ARE DETERMINED BY THE PUBLIC AND THEIR WILLINGNESS TO PAY THEIR DESIRED FEE THROUGH THEIR CHOICE OF BROKERAGE.
Which Fees Will you Choose?
Ditch the old fees and see how much you can save
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