Question 1

What is a typical commission for selling a property in British Columbia?

Accepted Answer

Unfortunately, we can't provide you with an
exact number as the final cost depends on a number of factors. On the bright
side, we can provide you with the information you need to arrive at an estimate.
The information below will help you get a rough estimate:

Assumptions: first $100,000 of purchase price attracts a fee 7%, remaining balance attracts a 2.5%, GST takes 5%. Buyer's agent gets a 3.125% fee on the first $100,000, followed by a 1.1625% fee on the balance.

Question 2

Does Wow Realty charge a commission?

Accepted Answer

No. Wow Realty is a fixed-fee brokerage, and this means that our sellers are never required to pay us a percentage of whatever they make from selling their home. Note that when it comes to reaching an agreement to pay a commission to buyer's agent, the choice is wholly yours. Nevertheless, our agents will analyze the market conditions in your area to ensure that you get the best deal.

Question 3

Can Wow Realty Realtor represent both buyer and seller in British Columbia?

Accepted Answer

Unfortunately, British Colombia realtors including Wow Realty can no longer represent both the sellers and buyers. In 2018 BC has become the first province in Canada to ban dual agency to protect the buyer and seller of conflict of interest.

Question 4

Do I have to pay Wow Realty for property Inspection and Valuation?

Accepted Answer

Wow Realty doesn’t charge for property valuation and you are under no obligation to proceed with us. If you do decide to proceed with us to act as your selling agent, we charge a fixed fee of $2,799 on completion of sale.

Question 5

What does mortgage stress test mean?

Accepted Answer

In Canada, a mortgage stress test is a way of testing how a bout of financial turmoil might affect your finances. In terms of mortgages, it's how a potential homeowner would cope with mortgage payments in the event of sudden twists such as a rise in interest rates and loss of employment. The stress test is designed to give you a clear idea of the high costs of owning a home. This is to help make certain that, as a potential homeowner, you can actually afford to buy a home.

Question 6

Will my property be listed on the MLS with Wow Realty?

Accepted Answer

Yes. You will receive Full-Service Real Estate Agency and we promise full exposure for your MLS® listing on REALTOR.ca® and wowrealty.ca​

Question 7

Do I have to pay a cancellation fee to Wow Realty if I decide to remove my listing?

Accepted Answer

No. If you change your mind at anytime of your listing with us, you will not pay us anything. We only charge a Fixed fee of $2,799 on completion of sale.

Question 8

If I buy a property through Wow Realty when do I receive my Cashback?

Accepted Answer

As long as Wow Realty receives above $5,500 in commission from the seller's agent, you'll be given up to $2,500 in cash back immediately after the deal is closed. You will be informed of this at the beginning of your purchase.