What is the agent commission structure in real estate?

What is the agent commission structure in real estate?

In real estate, agent commissions typically range from 5% to 6% of the home's sale price, split between the buyer's and seller's agents.

How is the commission split between agents?

The commission is usually split evenly, so if it's 6%, each agent would receive 3%. However, this can vary based on agreements.

Are there any factors that can affect the commission rate?

Yes, factors like the property's location, market conditions, and the agent's experience can influence the commission rate.

Can sellers negotiate the commission rate?

Absolutely! Sellers can negotiate the commission with their agent before signing a listing agreement.

What happens if the house doesn't sell?

If the house doesn't sell, the agent typically doesn't earn a commission, but sellers may still owe fees for marketing or other services.