MLS cost?

[Tik]

Does anyone know what is the cost behind MLS listing? Is it 4 or 5%?

If anyone have, upgraded from an house to another house - sold ur old home and bought another, please share ur experiance on how you managed to give out the commision to your agent.

Thank you,
tik

[jerryhung]

Visit MoneySense, read couple pages and you'll get the idea
http://forums.moneysense.ca/forum.jspa?forumID=16

4-5% is commission of the agent (MLS)

[Justin C]

If all you want is an MLS listing, then I've seen some agents in my area offer MLS listings for $2000.

[fireguy9]

negotiate, negotiate!!!!!!!!!!]

never sign for 5 or higher!!

selling agent almost always gets 2.5, but its the listing agent fee that is negotiable and if they want the listing, 2% is very good. My last two sales I paid 4.25% total and 3.75%. That was listed with Century 21

[st7860]

in BC, the standard rate is 7% of the first $100,000 and 3.25% after that. if there is a buyers agent, they usually get 45%.

www.erealty.ca offers 0.5% for their portion, minimum $1500. They allow you to set the rate you pay to the buyers agent seperately.

[ayeung]

I've just finished the process of selling and I paid a total of 3.5% without any negotiation.

For the buying agent
You should offer 2.5% (standard) or more (eg. I offered additional $500 as a bonus if it's sold before a certain date and it did work) because they are the one that bring in potential buyers. I've seen people offering 2% or 3% and I think if there are similar unit (such as in a condo), the agent will try harder to have their client buy the one with higher commission first (although they will not admit this).

For the sell's agent
This is the part that is really negotiable. Some agents/companies (like mine) are willing to do it for you at 1% for full service. In fact, they don't really have much effect on selling your property other than listing the property on MLS, printing spec sheet and presenting the purchasing agreement.

The first time when I purchase my brand new condo, my agent received some commission from the builder (I don't know how much and perhaps that's added to my purchase price because I was never given a price list. Yet, I was still in school at the time and didn't know what I was doing). My agent didn't tell me but he offered to give us $800 cash rebate afterwards.

If you only want to list on MLS. I've seen some local ads that you can do that with around $500 ... BTW, MLS only accepts listing from agents/brokers.

[Bullseye]

There is a company west of the GTA that will list your house on MLS for $695 flat rate;

http://www.portcullisrealty.com/

I don't know anything about them other than that, but I assume there are similar services elsewhere.