Real estate commission discount A review of the basics
Real estate commission has traditionally been calculated as a percentage of the selling price of a home. Real estate commission depends on the final sale price and is paid out and split between seller and buyer real estate brokers at closing. Real estate commission amounts are set by the selling broker and tend to range between five and six percent of the selling price. Until now, this system has been the sole method for payment of broker services. Licensed real estate brokers can now choose between charging a flat rate or percentage based real estate commission for their services.