Vancouver home buyers

What are the 3 Real Estate Market Conditions?

A classification of how real estate market is performing.


As Vancouver and Toronto real estate market gets the national media coverage, you often heard the terms Balanced Market, Buyer’s Markert and Seller’s Market. What are they? And how does it affect my purchase or selling decision of a home? Let’s explore these classifications.

There are fundamental factors that influence the real estate markets around the world, and it’s no exception here in Vancouver. They are immigration, migration (from other provinces), mortgage interest rates, jobs, economy, investments, new developments, available buildable land, inflation and local to world politics. These elements significantly increase or decrease housing supply and demand, subsequently lead to price fluctuations.

Vancouver real estate states

What is a Seller’s Real Estate Market?

A seller’s market is when there is high demand for housing supply but not enough MLS Listing to meet this shortage. In this condition, you will encounter more multiple offers situations (Bidding wars), pay over asking and not much to negotiate other than the completion and possession dates. Fear of losing out buyers willing to take the risk and write Subjects free offers all in the hopes of winning the bid.


Vancouver home buyers lined up


What is a Buyer’s Real Estate Market?

Contrary to the Seller’s Market, a buyer’s market is when the demand for real estate is low, and more sellers are putting their home up for sale. Virtually, not enough buyers too many sellers. In such market conditions, buyers have plenty of choices, negotiate prices, and less competition. You might be the only offer on the table, and the seller is willing to accept your terms.

Vancouver real estate buyer's market

What is a Balanced Real Estate market?

A balanced real estate market is when buyers demand, and sellers are putting their home on the market are on par. Also, the price is much stable. You’ll find such stable markets in rural and small towns in Canada and America.


Vancouver real estate states balanced



A REALTOR® is the first to notice whether we are in a buyer’s or seller’s market – our business is helping sellers and buyers with their real estate needs and any change in the market affects how we work with our clients. That’s why we are continually monitoring neighbourhood market trends to national.

Before buying or selling a home in Greater Vancouver, feel free to reach out to us via email or by phone for a professional opinion and complimentary Market Analysis. Your listing price, negotiations and expectations will all be affected depending on whether it is a buyer’s market or a seller’s market.

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What's the realtors commission in Canada?

How much commission do realtors charge in Canada?


Realtor’s Commission in Canada


How much is the realtor commissions in Canada?

A lot of questions has been asked about how much commission, or a fee, realtors charge in Vancouver compares to elsewhere in Canada. As per Canadian Competition Act, realtors commission aren’t set in stones which means they are negotiable. How much fees to charge are up to the each real estate agent business practices. Most realtors in Metro Vancouver charge the lowest realtors fees in Canada, 7% on the first $100,000 and 2.5% on balance. The average total fees on a $1 million dollars property is 2.95% in Vancouver. The same property in Toronto, you’ll pay 5%. Half this goes to the buyer’s agent for bringing a qualified buyer. Also, don’t forget, it’s commission fee plus GST. GST is collected on behalf of Canada Revenue Agency on commissions paid, as of today, this is 5%.

Most home buyers don’t pay any fees to agents as the seller’s agent is splitting the fees with them. Same goes for mortgage brokers; they get paid by the lender for helping a client with a suitable mortgage.


Canadian real estate commission fee in percentage (on a $1 million):

What's the realtors commission in Canada?


Breakdown of all the real estate commission by Provinces

Realtor Commission in Canada



What do you get for the realtor fee you pay?

When you are selling your home, ask the realtor what he will be doing to market your home. What you’re looking for is a list of things he will be doing to market your home for the amount of remuneration he’s getting and have the agent be accountable to what’s on the list. There are a lot of expenses a selling agent has to cover before going live on MLS. These are expenses that are mandatory to sell your home fast for more money.

What happens if an offer comes from the selling agent?

In a dual agency relationship, where the listing agent represents the buyer and seller. Your agent, first and foremost, must disclose to you this new information. Some realtors may give back the sum of the funds meant for buyer’s agent, or a certain amount. It would be wise to talk to your agent when signing your MLS listing agreement and set this expectation.



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