what is a real estate agents commission

Best answer

When a real estate agent works with a client to help them buy or sell property,they earn their commission from thetotal purchase or sale price. These commissions pay for real estate agent time and expertise in a transaction. Agents are only paid after the transaction (sale or purchase) is completed.

People also ask

  • Do I have to pay a real estate agent commission?

  • If you’re buying a home, you usually don have to pay real estate agent commission, though you still have to pay closing costs. If you’re selling a home, you usually pay commission to both your listing agent and the buyer agent when your home sale closes.

  • What are real estate commission rates?

  • Real estate commission rates are commonly talked about as a single percentage (eg 5%). However, this figure is actually split to cover the cost of both the buyer’s agent commission and the listing agent commission.

  • What is a buyer’s agent commission?

  • Buyer’s agent commission is a marketing cost for your home Almost all buyers ?nearly 90% ?work with an agent to help them buy a home. [1] These agents are more interested in showing homes to their clients that offer a competitive buyer’s agent commission. The buyer actually is paying for this cost, because it’s baked into the sale price

  • Is there a standard real estate agent commission in Australia?

  • Understanding how these real estate agent fees or commissions work can be difficult and even stressful, especially for first-time home sellers in Australia. In truth, there is no standard real estate agent commission for Australian property sales. If playback doesn’t begin shortly, try restarting your device.

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