A real estate broker represents you when buying or selling: pricing the home from comparable sales, marketing it, screening for genuinely qualified buyers, then drafting and negotiating offers through to closing. Their value is intensely local — the right broker knows the price tiers, the inventory and what actually closes in your London sector, not just the city at large. Before signing a brokerage agreement, verify three things: an active provincial licence, recent and verifiable activity in the specific sector, and clear written terms on commission. Payotte does that verification up front and recommends a single broker per sector — the one the public data supports, never the one who paid the most.
The London real estate market
As of June 2026, the MLS benchmark price in London stood at $561,100, down 3.5% year-over-year. The average home, all property types combined, traded near $606,614. Inventory sat at roughly 4.6 months of supply.
Scope: Juridiction LSTAR (London–St. Thomas) — aucun agrégat « City of London » publié · LSTAR / CREA · Jun 2026. — Source : LSTAR / CREA
What does it cost in London?
On London's reference price ($561,100), a 4.32% commission comes to roughly $24,240, plus tax.
$561,100 × 4.32% = $24,240. The 4.32% is what the seller pays in total: 2.16% per agent on average, and there are two — the listing agent and the buyer's (rate-my-agent 2026 study, 979 verified transactions).
No province sets a rate: commission is negotiable, and the study records spreads from under 1% to over 3.5% per agent. This is an order of magnitude, not a price list.
How much does a REALTOR® cost?
Commission structures vary sharply by province (WOWA, 2026): in Ontario, a combined 3.5%–5% of the sale price is typical (the buyer-side share often set at 2.5%); British Columbia commonly uses a graduated scale of about 3%–4% on the first $100,000 then 1%–2% on the balance; Alberta roughly 7% on the first $100,000 then 3% on the remainder, split between both brokerages.
The seller generally pays both commissions — the buyer's agent is usually free for the buyer. Everything is negotiable: no province fixes real estate commissions by law.