what commission do real estate agents make

what commission do real estate agents make

1 year ago 40
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Real estate agents are typically paid by the seller, and the commission is based on a percentage of the final sale price of the property. The commission is usually split between the sellers agent (also called the listing agent) and the buyers agent. The average commission rate for listing agents is 2.60% of the final home price, and the average commission rate for buyers agents is 2.51%, for a total of 5.11% . However, commission rates are not set in stone, and some brokerages may take little or even none of the agents commission. The commission thats paid by the seller is typically split among each agent and the brokerages through which they hang their real estate license. The commission split is usually negotiated between the agent and the brokerage when the agent signs on with them. The commission is paid out only when the deal closes, so if the transaction is not successful, the agent does not make any money.

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