A new feature on a real estate platform allows Metro Vancouver residents to see how much commission a buyer's agent will get when a property is sold.
HouseSigma's platform now allows locals to find out a listing’s commission percentage. This percentage is how much a buyer’s agent will get when a property is sold.
"It's a way for consumers to gauge where their real estate dollars are going," explains the company in a news release.
B.C.'s real estate regulator also just released a report recommending transparency among ways to protect buyers and sellers in the market.
Take a look at this random sampling of properties priced at $1.5M in Metro Vancouver and the varying agent commissions.
Vancouver Real Estate: Transparency Features
The platform's "Estimated Sale Price" feature can guide buyers around properties that may attract bidding wars, which it says reduces the chances of "blind bidding."
House-hunters can also compare the price of a listing to neighbouring properties to see its comparative value with the "Home Valuation Tool." They can simply type in a neighbouring address to find the price.
Did a home that you were interested in go off the market?
HouseSigma’s AI shows users de-listed properties and their prices, and consumers can add them to their ‘watch list’ in case they come on the market again.
What was a property listed for before?
Home-hunters can find out how the re-listed price compares to the previous one. Then they can estimate what to offer based on HouseSigma’s estimate, and the previous list price.