Selling your home in the lower mainland or elsewhere in BC? 

There’s no doubt that with the increase in home prices over the last decade, this also increases the commissions you pay as a seller to a Realtor. 

While they can add significant value to your real estate transaction, can you negotiate realtor fees in BC? 

Can you Negotiate Realtor Fees in BC?

In short, yes, Realtor commissions and fees can usually be negotiated and agreed upon between the seller and Realtor. 

While there are standard commissions for BC Realtors, they aren’t set in stone.

Selling a home in BC, especially in the competitive Metro Vancouver market, often involves working with a realtor to navigate the complexities of real estate transactions. One of the first questions many sellers ask is, “Can I negotiate realtor fees?” The answer is yes—realtor commissions are not set in stone and can often be negotiated. 

Understanding how Realtor commissions work and how to approach these negotiations can help you potentially save money, while making sure you get the best service in a competitive market that BC is.

Recommended Reading: Differences of the Listing & Selling Agent in Real Estate

What are the commission rates for real estate agents in Metro Vancouver?

It’s very common for Realtor commissions in Metro Vancouver and other parts of BC to be tiered as follows:

  • 7% on the first $100,000 of the sale price, and 
  • 2.5% on the remaining sale price. 

However, these are not fixed by any regulations or laws in BC and can be adjusted based on the negotiations you have as a seller and your chosen Realtor.

Given the average price of a home in 2024 for BC was approximately $940,000, this would equate to an approximate $28,000 in fees that’s paid by the seller.

By negotiating, you may be able to secure a more favourable rate without compromising on service quality, particularly if your home is high-value or in a sought-after location.

How much will a Realtor negotiate on commission?

The amount to which a certain Realtor will negotiate will ultimately depend on each individual agent, but in general, there are several factors to consider:

Market Conditions

The real estate market ebbs and flows in cycles. Depending on the current market conditions, a Realtor may be willing to negotiate more or less, depending on the market. 

If it’s a seller’s market, meaning homes sell quickly and with ease, not much negotiation required or marketing costs, they may be more open to lowering rates to get your listing.

If it’s a buyer’s market, meaning homes aren’t selling as quickly, more showings and marketing spend is required, then they may be less flexible in lowering below standard rates. 

Property Values

Typically, high-value properties with $2,000,000+ listing prices can justify lower commission percentages because the total commissions are significant. However, some high-value properties may require a lot of marketing and costs for the Realtor, depending on the property. 

Less Experienced Realtors

It’s no secret that a fresh Realtor would negotiate on rates for their first couple years in the business. They are looking for clients and will be happy to negotiate.

However, also keep in the mind that sometimes you do get what you pay for. Here at Metro Vancouver Life, Daniel John has nearly 20 years of experience and this experience always plays out in your favour when selling.

Recommended Reading: 8 Items To Think About BEFORE Selling Your Home

Who Typically Pays the Realtor Commissions in BC?

In BC and the lower mainland, Realtor commissions are paid by the seller. 

While the commissions are paid by the seller, the buyers agent does receive a portion of the commissions. Learn more about who pays realtor commissions fees. 

Are there realtors who charge a flat fee instead of a percentage?

In some cases yes, there are Realtors that will charge a flat fee or hourly fee in helping you sell or buy a property in BC.

Tips for Negotiating Realtor Fees Successfully & Respectfully

While it’s allowed and possible to negotiate on Realtor commissions, there are some tips that will help you be successful in your talks, while also respecting the Realtor as a professional there to provide expertise. 

1. Do Your Research

Take some time to get to know a few Realtors that catch your eye. Head to Google and search who can help you in your area, ask friends and family, and find a few to chat with. When you talk to them about potentially selling your home, they can give you insights into potential commissions rates they’ll charge. 

Also find out how they will help you. Some Realtors put a significant amount of time, money, and effort into listing and selling your property. In some cases, it could be worth it to pay what the Realtor is asking for if they can deliver. 

Remember, it’s not always about the deepest discount and instead who can provide you the service you’re looking for.

2. Highlight Your Home’s Appeal

If you think you’re in a sellers market and your home has certain features that will get it to sell quickly, you can use this as a talking point when presenting your property to Realtors.

3. Be Transparent

If you need to negotiate in order for the sale to make sense so you’re not losing money, be transparent about where you need to be. Remember, the Realtor you choose is there to help you sell your home for the best price, and make it stress-free.

4. Maintain Professionalism

Approaching any negotiation with professionalism will take you a long way with any Realtor. For instance, maybe you meet with a Realtor who isn’t in a position to lower their fees, but instead refers you to another Realtor who can. 

The same goes for the Realtor. Make sure they respect your time and willingness to chat about potentially working together.

When to Avoid Negotiating Realtor Fees

There are some situations you’ll want to consider when it’s best to avoid negotiating Realtor fees altogether. If you need specialised services, such as a certain type of luxury home, a distressed property, or a unique situation like downsizing, it may be in your best interest to avoid negotiations. Or, if you’re in a bind and need to sell quickly, you won’t want to start off by negotiating fees and commissions, you’ll want them to get to work and work fast! 

Final Thoughts

Selling your home in BC is a major decision. 

It is worthwhile to have this conversation with the Realtor you choose to make sure you’re happy with the end result should you move forward with them. Look at the timings of the market and consider your specific scenario when going into negotiations. 

If you ever need an opinion, contact us and our nearly two decades of experience will be there to assist you in selling your home with peace of mind.