# Exit — Anglo non-EU

> Part of [Exit — universal contract](../exit.md). Cross-region patterns + liquidity heatmap live there.

## 🇺🇸 United States
- **DOM**: NYC ~70-90 d / SF ~30-45 / LA ~50-70 / Miami ~75-100 / Austin ~50-70 / Chicago ~60-80 / national median ~55-70 d (NAR 2025 data)
- **Commission**: **NAR settlement effective Aug 17, 2024 unbundled buyer-agent commissions** — historic 5-6% seller-pays-both-sides model fragmenting; many states now buyer-pays own agent (negotiated upfront); listing-side typically 2.5-3%
- **Contract**: exclusive listing 60-180 d (state-by-state); buyer-rep agreement now mandatory before showings (NAR settlement)
- **MLS**: **YES — true MLS** (~580 regional MLSs feeding Zillow/Realtor.com/Redfin); deepest transparency globally
- **Discount**: 2024-2026 reset = 2-5% off asking national; hot Sun Belt (Austin/Phoenix) closer to flat
- **Sell-side**: federal CGT 0/15/20% long-term + state (CA up to 13.3%, NY ~10.9%); **§ 121 primary-residence exemption $250k single / $500k MFJ** (must own + occupy 2 of last 5 yrs); **FIRPTA 15% withholding on non-resident sellers** of US real property (gross sale price, > $300k); commission 4-6% combined (legacy) trending lower post-NAR
- **Liquidity**: 🟢 HIGH metros + Sun Belt; 🟠 MEDIUM Rust Belt secondary; 🔴 LOW remote rural / declining metros (parts of Detroit, rural West Virginia)
- **Quirks**: **NAR settlement reshaping commission norms 2024-2026** — buyer-agent commissions now negotiated separately, increased buyer cash-to-close; HOA/condo rules vary wildly; insurance availability collapsing in CA wildfire / FL hurricane zones is a growing exit drag; foreign buyers face FIRPTA holdback, 1099-S reporting

## 🇨🇦 Canada
- **DOM**: Toronto ~25-40 / Vancouver ~30 / Montreal ~30 / Calgary ~25 / national ~35-50
- **Commission**: **SELLER-PAYS BOTH SIDES**: 4-6% total (split 2-3% to listing / 2-3% to buyer agent); ON 5% typical on first $X then 2.5%; flat-fee/discount brokerages exist
- **Contract**: listing agreement exclusive 60-180 d
- **MLS**: **YES — true MLS** (CREA Realtor.ca + provincial boards), highly transparent
- **Discount**: hot markets 2021-2022 sold over-asking; 2024-2026 reset = 2-7% off
- **Sell-side**: capital gains 50% inclusion at marginal rate (66.7% above $250k as of 2024 reform); primary residence exempt (PRE); commission 4-6%
- **Liquidity**: 🟢 HIGH GTA/GVA/Montreal/Calgary/Ottawa; 🟠 MEDIUM smaller cities; 🔴 LOW remote
- **Quirks**: **Foreign Buyer Ban extended to Jan 2027** — narrows exit pool if non-Canadian; assignment-sale taxation (since 2022); BC speculation tax + ON NRST + Vancouver empty-homes tax compress non-resident options

## 🇦🇺 Australia
- **DOM**: Sydney ~30-40 / Melbourne ~35 / Brisbane ~30 / Perth ~25 (hot 2024-2026) / Adelaide ~30
- **Commission**: seller-pays 1.5-3.5% + 10% GST (Sydney/Melb 1.8-2.5%; regional 2.5-3.5%)
- **Contract**: exclusive listing 60-90 d; auction-led culture in NSW/VIC
- **MLS**: no MLS; Domain + Realestate.com.au de-facto duopoly with high transparency
- **Discount**: auction-driven so often clears at or above reserve in hot markets; private treaty 3-7% off
- **Sell-side**: CGT at marginal, 50% discount if held 12+ mo; primary residence exempt; commission 1.5-3.5%+GST; marketing fees often separate AUD 3-10k
- **Liquidity**: 🟢 HIGH Sydney/Melbourne/Brisbane/Perth (Perth especially hot 2024-2026); 🟠 MEDIUM regional; 🔴 LOW remote
- **Quirks**: **FIRB restrictions + temporary ban on foreign purchase of established dwellings 2025-2027** narrows future buyer pool; vendor disclosure regimes vary by state

## 🇳🇿 New Zealand
- **DOM**: Auckland ~45-65 / Wellington ~50 / Christchurch ~40 / national ~50
- **Commission**: seller-pays 2.5-4% + 15% GST; tiered (e.g. 4% first $400k + 2% balance)
- **Contract**: sole agency 60-90 d; auction-led in Auckland
- **MLS**: no MLS; Trade Me Property + Realestate.co.nz
- **Discount**: 5-10% off asking 2024-2026 (post-correction)
- **Sell-side**: bright-line test: gain taxed if sold <2 yrs (rolled back from 10 yrs in 2024 for non-new-builds); commission 2.5-4%+GST
- **Liquidity**: 🟢 HIGH Auckland/Wellington/Christchurch; 🟠 MEDIUM regional; 🔴 LOW remote
- **Quirks**: **Foreign-buyer ban (OIA 2018) still in force** for established residential — narrows exit pool to citizens/residents; weathertight (leaky building) and seismic (esp. Wellington apartments) issues drag stock