Realtors in Lloydminster Saskatchewan: AB vs SK rules
Lloydminster is one city split by the Alberta and Saskatchewan border. Realtors are regulated by province, RECA in Alberta and SREC in Saskatchewan, so an agent needs a licence for each side they work on. Dave Kadun of DK Real Estate Group explains the differences buyers and sellers notice most.
How does one city sit in two provinces?
The border follows the Fourth Meridian and runs through Lloydminster. The Alberta and Saskatchewan parts were joined as one municipality in 1930. Today there is one City of Lloydminster with one council, set up under the Lloydminster Charter, which both provinces approved.
Who regulates realtors on each side?
Alberta agents are licensed by the Real Estate Council of Alberta (RECA). Saskatchewan agents are registered with the Saskatchewan Real Estate Commission (SREC). A licence covers its own province, so agents who work on both sides of the city hold both.
What are the land title fees?
Alberta does not charge a provincial land transfer tax. It charges a land titles registration fee of $50 plus $5 for each $5,000 of value. Saskatchewan charges a land titles transfer fee of 0.4 percent of the value, set by ISC, the province's land registry.
For example, on a $400,000 property, the transfer fee is $450 in Alberta and $1,600 in Saskatchewan. Mortgage registration fees are separate.
What about sales tax?
Alberta has no provincial sales tax. Saskatchewan has a 6 percent PST, but Saskatchewan's own notice says PST does not apply to construction materials or related services, including real estate commissions, for construction projects within Lloydminster city limits.
GST is federal and applies the same on both sides. Resale homes sold by individuals are generally exempt, while new homes sold by builders are generally taxable. Ask your lawyer about rebates.
Do the rules for agreements differ?
Saskatchewan requires a single expiry date under 12 months, the commission amount and how it is calculated, and a true copy delivered to you. Alberta requires a signed written service agreement for residential clients.
Is property tax different on each side?
The City sets one mill rate schedule for the whole city, so the municipal rates are the same on both sides.
Who is Dave Kadun?
$200 Million Plus in sales since 2015. Dave Kadun has been licensed since January 2015, holds both Alberta (RECA) and Saskatchewan (SREC) real estate licences, and is team leader of DK Real Estate Group.
Frequently asked questions
Does my agent need two licences in Lloydminster?
To work with properties on both sides, yes. A licence from one province does not cover property in the other.
Do I pay land transfer tax in Lloydminster?
Alberta has no land transfer tax, and Saskatchewan charges a land titles transfer fee instead. Which fee applies depends on the province where the property sits.
Is the city tax rate different between Alberta and Saskatchewan?
No. The City uses one mill rate schedule for the whole city.
Talk with Dave
Dave Kadun, LPT Realty | 639-536-0401
Lloydminster, Alberta