For many people buying or selling a home in Vancouver represents the single largest, and, most complex financial transaction they will ever be involved in. It’s important to find advice you can trust, information you can rely on, and – above all – people with the experience and expertise you need to provide solutions, should you encounter any unexpected twists or turns along the way.
That’s where Resident Experts comes in.
We are Vancouver residential real estate experts that help people buy or sell homes in Vancouver by providing reliable information, candid advice and expert guidance. If you are contemplating buying or selling a home in Vancouver and have questions, we have answers.
WORKING WITH A REALTOR
Why do I need a realtor?
We believe that anyone who is considering buying or selling a property should have a real estate expert in their corner: an expert who knows the local market, will take the time to understand your unique goals and have your best interests at heart. Your home is one of the most significant financial investments you can make, so buying and selling a home is naturally a huge financial and emotional undertaking. Having a good realtor on your side can mean better access to property listings and odds of finding your dream home; access to more potential buyers to increase your options and chances of selling; stronger negotiation and contracts putting you in a better position to get the home or price you want; and finally, peace of mind along every step of the way.
How do I select the right real estate agent?
If you’re ready to buy or sell, it’s time to find a Vancouver realtor. A good real estate advisor should have a deep understanding of client service, be able to write an enforceable contract that protects your interests, have strong relationships with the real estate community, be expert negotiators, are local experts in your market and live and breathe the communities in which they serve. Most importantly, your real estate advisor should be staying on top of what is happening in the real estate market from both a micro and macro level throughout the process and advise where your home fits within the bigger picture and how you should adjust based on what is happening. You may have an idea of some of the realtors in your neighbourhood based on referrals from friends and family or signs you’ve seen in the area, but it’s critical that you take the time to meet with realtors in person to determine they are a good fit. At Resident Experts, we always encourage people to meet with at least three realtors to ensure they are partnering with the right person or team.
What are realtor fees in BC?
There is no standard commission rate, as per Canada’s Competition Act, in the real estate profession and compensation is agreed to between the seller and the listing agent. The typical formula for realtor commission is 7% on the first $100,000 and 2.5% on the balance in British Columbia, but can vary from brokerage to brokerage. Around half of the total commission of 7% on the first $100,000 and 2.5% on the balance is shared with a buyers agent who brings a buyer and offer that completes at the Land Title office.