In Toronto, typically 5% of the final sale price of the home is split evenly (2.5% each) between the listing agent and buyer’s agent.
Technically you are not paying them directly. Their commission fee is included in the listing agreement.
Selling your home can be a tough decision, but with the help from a professional REALTOR®, it can make the task much easier. The reason you are paying them a fair commission rate is because they are a local expert who can determine how to market your home accordingly, depending on the area and time of the year. Typically, the commission is 5% of the final sale price and split evenly between the buyer’s agent and listing agent, but if you wish to negotiate, let your agent know. But remember, you get what you pay for, especially when it comes to your agent’s services.
Disclaimer: rates and prices subject to change.