Realtor commission rate... house, buying, commission, discount, remember

jennypun

Did anyone know when you buy or sell a house, how much commission you need to pay to the realtor? Do they have a standard rate? Do they give you a discount or sth?

If i remember it right, buying a house you don't need to pay commission?!  

Thanks...

FiChai

There is no "fixed" rate but a "market standard" rate for most people to follow. There could be higher or lower, or with special bonus, which you have to discuss with your realtor to determine a rate that both of you happy with (you as the seller). Buyer needs not to give commission to realtor, but in fact is the seller who needs to give both parties.

tsawwassen

I know the buyer doesn't have to pay any commission. If you can find some Keung Kwok realtor, some of them even rebate half of their commission back to the buyer in order to give the deal.

masterbear

I know the buyer doesn't have to pay any commission. If you can find some Keung Kwok realtor, some o ...
tsawwassen 發表於 2012-1-13 06:18

Straight forward could tell someone has no confidence and technique to protect and help u bargain the big $ but just rebate their own share to get these dump dump buss.. haha wonder how long they could survive??? Unless they are extremely rich and want to spread $ out of their pockets

Quest

Off the head I am aware of at least a handful of realestate agents active in Rmd area where they would do that.

It's part of the wheeling-n-dealing profile.

Me? It just doesn't matter for I already bought a house and my agent has been treating me fairly.

Q.

BTW: those "so-called" aggressive real-estate agents are playing cut-throat competitions because it's in their mentality (wonder where they came from?!) but according to the insiders in Realestate biz: these latecomers are destroying/not abiding by the proper standard practice in the industry...cutting corners whenever possible, back-peddling and under-the-table dealings all the time so as to complete a sale, etc. They are essentially the ones that's been giving the industry here in VAncouver a really bad name....Oh well, one by one, they will be kicked out of the realestate agency they represent and they will have to do their biz practice all on their own...

tsumorichisato

U don't need to pay anything to the realtor if you are the buyer. If you use a realtor to help you find your home, the privilege is they can view the listing on their realtor version of MLS 1 or 2 days ahead before the listing comes live on public version of MLS. Sometimes properties would do caravan and they would have the 1st hand information. But more often is those realtors are always on the road and they can see the sign (the sign always comes first!! cuz when the realtor gets the business from seller, the first thing they do is to put up a sign rather than finishing up the paper work). Regardless, I always use realtor who KNOWS the neighborhood, whether I am buying or selling....

tsumorichisato

that might be out of topic...even though u don't need to pay commission to realtor but don't forget you need to pay property transfer tax (that's not a small amount) when you are buying a property....

Look4chrisng

mls.ca is open to public on a court order.  (Before only agents can post listings)

I think you pay a few hundred dollars ($500?) you can have your house listed on mls.  Document-wise, just go to the notary for another $1500.

Power of internet and some leg work help, if you are cheap.

FiChai

Don't think that a for sale sign put up in front of the property is a must, and actually many sellers prefer not to do so. And what works the best traffic is internet advertisement, mls mainly.

tsumorichisato

I am making the comments based on jenny's perspective. She is the buyer and looking for a house and she is wondering if she should find a realtor. Ok, I made the assumption based on her previsous posts..... I am just telling her what's difference between finding a good realtor or finding it by herself. I mean honestly I don't even use a regular realtor to find houses, most likely we ask the seller's realtor to represent us at the same time, that yields higher chance to get it....cuz obviously the realtor can possibly get the whole commission....but then you need the patience and luck to find the house you truly want. I am just saying if you do your homework, you don't even need the realtor, u can go directly to the seller's realtor. But if you are not knowing too much about neighborhood and stuff, you probably need a realtor based on the reasons I listed above.

And you are right. The seller has the absolute right to not put up a sign and can even list privately....I am saying AS IF there is a sign putting up, realtors of  the neighborhood are probably the ones seeing it before you do.