Manitoba Real Estate Commission Calculator 2024
Manitoba Real Estate Commission
Typical Real Estate Agent Commissions in Manitoba
| Property Sale Price | Less than $120K or farmland | Between $120K and $400K | Greater than $400K |
|---|---|---|---|
| Total Real Estate Commission | Usually 6%. Can be 5%. | 4% to 5% | Usually 4%. Can be 5%. |
In suburban and rural areas where home prices are lower, real estate agents can charge up to 6% commission. The lower prices mean that real estate agents have to charge a higher percentage in order to be paid similarly to places with higher home prices. For the buying and selling of farmland in Manitoba, the total commission could also be as high as 6% as the sales on these properties typically take longer (up to 6 months) to close. Finally, commissions are usually higher for foreign buyers.
Real Estate Commission in Winnipeg
The total real estate commission rate in Winnipeg usually ranges between 4% to 5%. In very few cases, agents can charge up to 6% of the property’s price.
Comparison of Real Estate Commission Across Provinces
| Province | Typical Real Estate Commission Rate | Average Sold Prices of Homes in April 2024 | Average Total commission Paid to Both Agents |
|---|---|---|---|
| Alberta | 7% for 1st $100K and 3% for the remaining balance | $499,505 | $18,985 |
| Ontario | 5% of total price | $900,161 | $45,008 |
| B.C. (Greater Vancouver Area) | 7% for 1st $100K and 2.5% for the remaining balance | $1,006,248 | $29,656 |
| Saskatchewan | 6% for 1st $100K, 4% for the 2nd $100K, and 2% for the remaining balance | $324,474 | $12,489 |
| Manitoba | 5% of the total price | $382,658 | $19,133 |
| Quebec | 5% of the total price | $498,124 | $24,906 |
| Nova Scotia | $1,500 flat fee for properties under $25,000 and 5% of the total price for other properties | $468,543 | $23,427 |
| New Brunswick | 5% of the total price | $334,561 | $16,728 |
| Prince Edward Island | 5% of the total price | $379,366 | $18,968 |
| Newfoundland and Labrador | 5% of the total price | $304,570 | $15,228 |
Ontario and British Columbia have some of the highest housing prices, which results in higher average total real estate commissions. Although British Columbia’s real estate commission rates are one of the lowest in the country, homeowners ultimately end up paying a comparatively higher real estate commission due to the higher average selling price of homes.
Low Commission Real Estate Agents in Manitoba
In Manitoba, some brokerages such as 3 Percent Realty offer as low as a 3% real estate commission. Unlike other provinces, there are very few real estate agents in Manitoba that offer flat-fee services.
While the majority of real estate agents charge 4-5% commission, you can often get a lower rate by finding a local real estate agent and contacting them about their commission rates. All real estate agent commissions are negotiable and the contract is signed based on the rate that you and your agent agree on. The Manitoba Real Estate Association follows the Canadian Real Estate Association (CREA) Pledge of Competition that states that each real estate agent has the flexibility to set their commission rates based on the services they provide to their clients.
Historical Real Estate Commission Rates in Manitoba
Historically, when real estate prices were lower in Manitoba, real estate agents charged up to 7% total commission. Because the selling prices of the homes were lower, real estate agents charged a higher percentage to earn enough to make a living. As the real estate prices in Manitoba increased over time, the real estate commission percentage rate decreased as agents were able to earn a living with a lower percentage rate.
Closing Costs and Costs of Selling a House
In addition to the real estate agent commission, the cost of selling a house includes legal and lawyer fees, and sales taxes on the real estate agent commission. If you are a buyer, you should consider the closing costs, which include land transfer taxes, property inspection fees, and lawyer fees. The closing costs can amount to approximately 3-4% of your property’s purchase price.
What Are Real Estate Commissions?
In Manitoba, real estate commission rates are typically between 4-5% of the sale price of the property. This is the combined real estate commission for both the buyer and seller agents. Approximately 90% of real estate agents in Manitoba split the commission 50/50 or half-and-half between the buyer and seller agent. This means that if the total commission rate is 5%, then 2.5% will be paid to the buyer agent and 2.5% will be paid to the seller agent (also known as a listing agent).
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
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- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.