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 Toronto.