what is standard real estate commission

Best answer

Real estate commissions are the fees you pay to your real estate agent for their services. In B.C.,buyer and seller real estate agents charge a graduated commission based on the transaction value that usually ranges between3% to 4% for the first $100,000 of a property’s price and between 1% to 2% for the remaining total.

People also ask

  • 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.

  • How does real estate agent commission work in California?

  • How real estate agent commission works in California There are usually two real estate agents involved in a home sale: The seller’s agent (also called the listing agent), who represents the home seller The buyer’s agent, who represents the person buying the home

  • 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.

  • What is a good commission structure for a real estate agent?

  • A commission is negotiable and is usually around 2-3% of the sale price, although it may be lower or higher than this range. A real estate agent cannot unilaterally alter the commission structure in any way once an agreement has been reached. High commission structures will generally include the price of advertising.

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