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What is the agent commission structure in real estate?

An example of an AI chatbot conversation about agent commission structures in real estate.

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You

What is the agent commission structure in real estate?

MagicBuddy
MagicBuddy

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.

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You

How is the commission split between agents?

MagicBuddy
MagicBuddy

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

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You

Are there any factors that can affect the commission rate?

MagicBuddy
MagicBuddy

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

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You

Can sellers negotiate the commission rate?

MagicBuddy
MagicBuddy

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

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You

What happens if the house doesn't sell?

MagicBuddy
MagicBuddy

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.

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