Newfoundland and Labrador Real Estate Commission Calculator 2021

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What Are Real Estate Commissions?

Newfoundland and Labrador Flag
Newfoundland and Labrador Flag

The average real estate agent commission in Newfoundland and Labrador is 5%, but it can range from 3% to 5% . Newfoundland and Labrador's Real Estate Trading Act regulates real estate commissions in the province. Real estate agents are not allowed to charge commission based on the difference in a home's listing price and the actual selling price of the home.

If a commission amount was not agreed upon prior to a sale, then the commission will be based on the average commission charged in the area. The Lieutenant-Governor in Council has the authority to fix or limit commission or commission rates charged by real estate agents in Newfoundland and Labrador.

Newfoundland and Labrador Real Estate Commission

%
You will pay around...
$23,00023k
Buying Agent Commission
$10,00010k
Selling Agent Commission
$10,00010k
15%HST
$3,0003.00k
The seller of the property will pay for both buying and selling agents' commission. For example, if the seller agent commission is 2.5% and the buyer agent commission is 2.5%, you will pay a total commission of 5%.

Note: Most provinces in Canada require real estate brokerages to hold real estate commissions in a separate brokerage trust account. Newfoundland is an exception to this, as there is no requirement to segregate commissions.

What is the Average Real Estate Commission Rate?

$750,000 Property Selling Price Example

~$706,875
~$37,500
~$5,625
You Receive
Buyer+Seller Agent Commission
HST on Commission

The above chart demonstrates the following: 5% commission on the selling price and a 15% tax that is applied to the total commission. The remaing values is what you receive.

Comparison of Real Estate Commission Across Provinces

ProvinceTypical Real Estate Commmission RateAverage Sold Prices of Homes in September 2020Average Total commission Paid to Both Agents
Alberta7% for 1st $100K and 3% for the remaining balance$403,163$16,095
Ontario5% of total price$741,395$37,070
B.C. (Greater Vancouver Area) 7% for 1st $100K and 2.5% for the remaining balance$801,039$24,526
Saskatchewan 6% for 1st $100K, 4% for the 2nd $100K, and 2% for the remaining balance$403,163$16,095
Manitoba 5% of the total price$308,689$15,434
Quebec 5% of the total price$477,609$23,880
Nova Scotia $1,500 flat fee for properties under $25,000, and 5% of the total price for other properties$319,726$15,986
New Brunswick 5% of the total price$203,907$10,195
Prince Edward Island 5% of the total price$300,538$15,778
Newfoundland and Labrador 5% of the total price$249,368$13,091
Housing market data was retrieved from the Canadian Real Estate Association.

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.

The calculators and content on this page are provided for general information purposes only. WOWA does not guarantee the accuracy of information shown and is not responsible for any consequences of the use of the calculator.