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."
Photo via HouseSigma
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.
Photo via HouseSigma
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.
Photo via HouseSigma
