Newfoundland Real Estate Commission

Real Estate in Newfoundland and Labrador: Commissions, Licensing, and Representation

Average Real Estate Agent Commission

In Newfoundland and Labrador, the average real estate agent commission is 5% of the sold price of the property. This commission is typically split between the listing agent and the buyer's agent, with each agent receiving 2.5%.

Licensing Requirements

There are three paths to a real estate licence in Newfoundland and Labrador:

• Complete the Real Estate Trading Program at the College of the North Atlantic.
• Complete the Real Property Salesperson Program at the Memorial University of Newfoundland.
• Obtain a valid real estate licence from another province or territory and apply for reciprocal registration in Newfoundland and Labrador.

REALTOR Representation

The Newfoundland and Labrador Association of REALTORS (NLAR) represents more than 700 REALTORS in the province. NLAR members are bound by a Code of Ethics and Standards of Practice, and they are committed to providing professional and ethical real estate services to their clients.

If you are looking to buy or sell real estate in Newfoundland and Labrador, it is advisable to use the services of a licensed real estate agent who is a member of NLAR. A qualified real estate agent can help you navigate the complex process of buying or selling a home, and they can provide you with valuable advice and support.

Conclusion

If you are considering buying or selling real estate in Newfoundland and Labrador, it is important to be aware of the average real estate agent commission, the licensing requirements, and the role of the Newfoundland and Labrador Association of REALTORS. By working with a licensed real estate agent who is a member of NLAR, you can ensure that you are getting the best possible service and advice.

For more information on real estate in Newfoundland and Labrador, visit the NLAR website at https://www.nlrealestate.ca/.