Rick Lopez

What Should You Know About Seller’s Realtor Commission Fees?

Realtor's commission is actually a fee that is paid to a realtor for his services in association to the sale or purchase of a home. This is generally paid to the broker agency that the real works in, and is split between the realtor and that firm on a pre-determined system. Here are some important things that you have to know about the realtor commission fees for seller's agents.

Commission is on deal closure

Keep in mind that most realtors do not get a monthly, weekly or hourly fee. Their income, instead, is based on the commission that they earn upon the successful closure of a deal. At times, this type of commission is a fee that is pre-determined. However, most realtors tend to charge only a percentage of the final selling price of a property.

Commission can vary

Whether a buy home or sell my own home realtor is hired, it is important to remember that the exact total commission percentage can vary a lot. Typically, it is about 5 to 6% of the final price of the property.

Commission is split

Keep in mind that the commission percentage is paid not to one realtor. In most of the transactions involving real estate properties, two realtors are paid. One of these is paid to the listing agent, who represents the seller, while the other is paid to the buyer's agent, who represents the buyer. Each realtor who is associated with the transaction can get one part. The amount is generally 2.5 to 3% of the total price.

Author Resource:-

Rick advises people about real estate, property investment and affordable housing schemes. You can find his thoughts at real estate projects blog. To find a Brantford real estate broker with high professionalism, quality and affordability, visit this website.