Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

Did the commission changes make buying a home cheaper?

Commission in Saskatchewan has always been negotiable under Saskatchewan Real Estate Commission rules, so recent changes to how commission is disclosed and agreed to have not made buying a home cheaper here in a direct sense; what changed is that the amount and who pays it are discussed more explicitly upfront.

Commission is often tiered in Saskatchewan, a higher rate on the first portion of the price and a lower rate on the balance, and that structure predates the recent disclosure changes, so buyers were not paying a hidden or fixed rate before.

What buyers actually pay in Saskatoon is closing costs, generally 4 to 6 percent covering commission, legal fees and adjustments together, plus a lawyer to complete the transaction and PST on mortgage insurance if the loan requires it, none of which shifted because of commission disclosure rules.

The real cost question for any specific purchase is what the house is worth against what you can finance. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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