When talking about real estate agent commission rates in London, Ontario, it is very marginal. The commission rates are evenly splits between seller’s agent & buyer’s agent and typically lies in the range of 2.5-5% for both seller’s & buyer’s agent.
As per the industry standard commission rates for real estate agents in Ontario, the seller pays around 5% as a commission on finalized selling price of the property.
If you want to attract god number of buyers and more views for your house then buyer’s agent commission rate of 3% will be a better option to consider. However, this commission can be negotiable, and truly depends on property location, market and MLS realtor listing.
Here, buyer doesn’t pay real estate commissions typically as the seller distributes the whole commission to the agent. However, one can argue about the fees for buyer’s agent which is not technically treated as free. Apart from that, seller is also truly responsible for paying the HST that can be added together into the commission.
MLS listings in London Ontario can deliver you better idea about how real estate agents are collecting commissions by wonderful negotiation as the last resort to get best deals without any hesitation. You can look after the commission section with your agent’s agreement as this thing can outline what will happen when sellers is not paying buyer’s agent commission.
Rick advises people about real estate, property investment and affordable housing schemes. You can find his thoughts at real estate listings Ontario blog. If you would like more information about MLS listings in London, Ontario, please visit this website.
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