1. What is BC Real Estate Commission?

The real estate commission in British Columbia is the fee paid to real estate agents for their services in facilitating a property sale. It's typically a percentage of the final sale price and is split between the buyer's and seller's agents.

2. How Commission is Calculated

The basic commission calculation is:

Where:

• Sale Price — The final selling price of the property in CAD
• Commission Rate — The agreed percentage expressed as a decimal (e.g., 5% = 0.05)

3. Typical Commission Rates in BC

Details: While commission rates are negotiable, typical rates in British Columbia range from 3% to 7% of the sale price, with an average around 5%. The rate often decreases slightly for higher-priced properties.

4. Using the Calculator

Tips: Enter the property sale price in Canadian dollars and the commission rate as a decimal (e.g., 0.05 for 5%). The calculator will compute the total commission amount.

5. Frequently Asked Questions (FAQ)

Q1: Who pays the real estate commission in BC?
A: Typically the seller pays the commission, which is then split between the listing and buying agents.

Q2: Are commission rates fixed in BC?
A: No, commission rates are negotiable between the seller and their real estate agent.

Q3: Is GST included in the commission?
A: No, GST (5%) is added to the commission amount and paid separately.

Q4: How is the commission split between agents?
A: The total commission is typically split 50/50 between the listing and buying brokerage, with each agent then receiving a portion of their brokerage's share.

Q5: Can I negotiate a lower commission rate?
A: Yes, commission rates are always negotiable. Discount brokerages may offer lower rates with fewer services.