GPS home real estate team

Selling

REALTORS® fees or commissions vary. Compensation is always agreed to beforehand between you and your REALTOR®. There is no set commission rate in the real estate profession, and any fee or commission paid depends on the services provided by your REALTOR®, which can vary significantly depending on your needs as a client or the business model used by the REALTOR®.

When is the commission or fee payable?

The Standard Multiple Listing Contract provides that the fee or commission is payable on the earlier of the following:

  • completion date under the Contract of Purchase and Sale; or
  • the actual date that the sale completes.

The GST

GST applies to REALTOR® fees and other services. 

Other

Don’t forget to ask your REALTOR® about these costs when calculating the total cost of selling your home:

  • Adjustments, may include property tax adjustments
  • Final maintenance and utility costs
  • Lawyer or notary fees and expenses – attending to execution of documents
  • Costs of clearing the title, including:
    • Discharge fees charged by encumbrance holders
    • Pre-payment penalties
  • Insurance – should maintain until the latter of either the date when you receive the proceeds of sale or when you vacate the property
  • Real estate commission fee
  • Moving fees