A frequently asked question from people listing a luxury property is: How much will I have to pay in commissions? I thought it would be interesting to answer this question using Calgary's largest home sale in history; examining it in terms of a marketing budget.
44 Aspen Ridge Heights SW was sold on February 27, 2013 for $10,350,000. The property was on the market for 222 days, or just over 7 months.
This is how real estate commission works for most properties, but please note that while I charge these standard commission rates, many luxury realtors charge a premium, so these numbers may be different than what was actually agreed on:
Both the listing and buyer’s realtor each get 3.5% on the first $100,000, which is $3,500. Then on the remaining…