Richmond, BC, Buyer cash back
Richmond cash back realtor: get half the buyer commission back on Lulu Island
Richmond detached houses routinely trade around $2 million, where the buyer-side commission is about $25,000. Half of that is yours with our partner agent.
Get my Richmond rebate agentWhat buying in Richmond is really like
Richmond sits almost entirely on Lulu Island at sea level, protected by dikes. That one fact shapes the market: there are no basements, a large share of the land is farmland in the Agricultural Land Reserve, and the city controls house size on farmland. The condo core runs along No. 3 Road and the Canada Line, while detached houses fill Seafair, Broadmoor, Terra Nova and Steveston, and townhouse complexes dominate the east.
The biggest Richmond rebates are on detached houses in Broadmoor, Terra Nova and Seafair, typically $1,800,000 to $2,500,000. On a $2,000,000 house the standard buyer-side commission is about $25,070, so the 50% rebate is about $12,535.
Richmond composite benchmark $1,025,100, GVR August 2026.
Before you remove subjects in Richmond
Ask your insurer for a quote that includes overland flood, and get the property survey. Two houses on the same street can sit at different elevations, and the one built to today's flood construction level is usually easier and cheaper to insure.
Check these before you buy in Richmond
Flood construction level
Newer Richmond houses are built to minimum flood construction levels. Older ones may sit lower. Ask for the survey and check the home insurance quote for overland flood coverage before you remove subjects.
Airport noise and height
Areas near YVR, including Burkeville on Sea Island and parts of Thompson, have aircraft noise and building height limits. Visit at different times of day.
ALR properties
Farm properties in the ALR have strict limits on house size and use. A large farm estate is not a typical residential purchase; financing and resale are different.
Soil and settlement
Richmond's soft soils mean some older houses and driveways settle. A good inspector looks for cracking and uneven floors.
What your budget buys in Richmond
- Around $700,000
- A one or two-bedroom condo in a 1990s or 2000s building near No. 3 Road.
- Around $1,100,000
- A three-bedroom townhouse in east Richmond or Steveston.
- Around $2,000,000
- A detached house in Seafair, Broadmoor or Terra Nova, often older and on a full-size lot.
- $3,000,000 and up
- A newer large house in a top school catchment, or an ALR property with its own set of rules.
Worked example, Steveston townhouse
A family buys a three-bedroom Steveston townhouse for $1,150,000. The buyer brokerage earns about $15,295 before GST. Their share is about $7,648, which covers the first year of strata fees and the home insurance premium with room to spare.
Your Richmond rebate at other prices
| Price | Typical buyer-side commission | Your cash back (50%) | Typical listing-side commission | Seller saving (50%) |
|---|---|---|---|---|
| $625,000 | $9,258 | $4,629 | $10,868 | $5,434 |
| $825,000 | $11,558 | $5,779 | $13,568 | $6,784 |
| $1,025,000 | $13,858 | $6,929 | $16,268 | $8,134 |
| $1,275,000 | $16,733 | $8,366 | $19,643 | $9,821 |
| $1,650,000 | $21,045 | $10,523 | $24,705 | $12,353 |
Common BC split to the buyer brokerage: 3.22% on the first $100,000 and 1.15% on the rest, before GST. Your agent confirms the actual figure before each offer.
Work out your number
Estimated cash back: —
Selling first? Sell in Richmond with half the listing commission.
Closing costs in Richmond, and where the rebate lands
A $2,000,000 Broadmoor house bought by a repeat buyer.
| Item | Amount |
|---|---|
| Property transfer tax (standard) | $38,000 |
| Lawyer or notary, title insurance (estimate) | $1,500 to $2,500 |
| Home inspection (estimate) | $500 to $900 |
| Your rebate after completion | +$12,535 |
BC property transfer tax: 1% on the first $200,000, 2% to $2 million, 3% above that, plus 2% on residential value over $3 million. First-time buyers can be exempt on the first $500,000 for homes up to $835,000, phasing out by $860,000. Newly built homes can be fully exempt up to $1,100,000, phasing out by $1,150,000. Eligibility rules apply; your lawyer or notary confirms.