When selling your property, there are generally two real estate agents involved:
In a conventional real estate transaction, each agent typically earns a 2.5% commission based on the final sale price. This means the total commission you’ll pay for both agents will add up to 5%.
For example, if your home sells for $1,000,000, you’d end up paying $ 50,000 in agent commissions.
That $ 50,000 would be split between the two agents, with each receiving $ 25,000.
Paying only 1.5% instead of 2.5% for your listing commission when selling your home might seem like a small difference at first, but it can quickly add up and result in significant savings, especially when compared to the average home prices in the Guelph, Kitchener, Waterloo and Cambridge Areas.