How Much Real Estate Agents make in Canada?

There is a major misunderstanding about how much real estate agents make in Canada? Realtors tend to get a poor name for beating home buyers blind by collecting thousands of dollars in commission. Although it’s true that some real estate agents have made very good careers for themselves in real estate. We think it’s necessary to shed some light on the salary of a real estate agent in Canada and how much they actually earn.

According to Salary.com, the median salary for a typical real estate agent in Canada is $42,246; with a basic commission of 5-6% of the total sales price of a sale. Your real estate broker determines how you will be compensated- in most cases; you will split your commission with your broker by percentages. New agents who need more help and support from the broker may get a smaller percentage than more experienced agents who have a strong track record.

50% of the commission total usually goes to the brokerage representing the other party. The 40%-80% of the remaining 50% is your take-home, the rest goes to the broker.

BREAKING DOWN THE EXPENSES OF A REAL ESTATE AGENT

When discussing the problem of how much real estate agents make Canada, it is important to take into account all the costs that an agent needs to pay — they are charged only when the real estate is actually sold.