Commission Question in Ontario

[itshere]

Hi All -
I recently purchased a home in Ontario for around 500K. I was wondering if you can tell me what the commission of the agent would be? She was representing both parties (buyer and seller), and advised that 1% goes to the Seller.

Reason I ask is because I get a portion of the commission back but want to know what she got to begin with.

 

[Thomas Beyer]

Commissions are freely negotiated

Often they are 5-7% on the first $100,000 then 2.5-3% on the rest but could be higher or lower

Buyer's and seller's agent usually split this bit again that is up to the seller's agent and might be more in favour of the seller's agent.

 

[Tony Miller]

In Ottawa the standard is 5%. Sometimes the % is lower if the listing brokerage / agent represents both the seller and the buyer.

 

[Thomas Beyer]

5% across the entire value of an asset is outrageous once house is over $400,000