Real Estate Commission
One of the biggest concerns homeowners face when selling their house, aside from the price to list the house at, is the commission to the Realtor.
Typically, the commission the Realtor receives when the house sells is six-percent of the selling price. However, the commission percentage isn’t set and can often be negotiated. In some cases, the commission is split 50/50 between the seller’s agent and the buyer’s agent.
No commission needs to be paid until the property has sold and the sale is complete, and in the majority of cases, the commission that is due from the transaction will be paid from the seller’s funds during the closing process.
Because of these different variables, whether you are buying or selling any form of real estate property, it is important for you to fully understand and discuss all the details of commission before making any form of commitment or signing any contracts.