Carlos Cornejo's Blog
26
Sep

How much is the commission? Buyers

How much is the Commission?

In residential buying and selling transactions standard is 6% of the sale value of the property, which is divided into 3% for each of the agents involved in the transaction, (the representative of the buyer and the seller).

On residential income transactions standard is 10% of the value of the annual contract or one month rent. This Committee is divided into equal parts for each of the agents involved in the transaction.
 

Who pays the Commission?

The property owner is always responsible for paying the Commission both in cases of sales as income.

Do you know how it is paid the real estate consultant?

Counselors of real estate are not paid or per hour, nor for completion of work, only charged if the formal recording (closing) is achieved it. An agent can spend days, months working with a buyer or seller and if it fails to carry out the transaction they are not rewarded for their time. 

Where is the amount of the Commission stipulated?

Stipulated in the agreement to promote the property (listing agreement). The agreement stipulates which is the percentage of Commission agent will receive at the time of the closing of the transaction and the percentage that will be paid to the agent representing the buyer/tenant. This percentage is posted in the system of multiple listings (MLS) along with the other data of the property, so agents are aware of what will be their compensation at the time of the closing. 

The support and advice of a Realtor estate "professional" represents every dollar of the Commission. No matter if she is selling or buying a property, be sure to work with a Realtor estate that has the knowledge, experience and equipment necessary to provide you with the advice you need

THE BUYER PAY COMMISSION?

The purchaser of the dwelling in the vast majority of cases do not pay any Commission real estate agent.

AS A SELLER, CAN I SAVE THE COMMISSION?

89% of all vendors use the advice and help of a real estate agent. Only 8% of all vendors, trying to sell the property on their own (known as For Sale By Owner), without hiring a real estate agent based on the belief of well saves six percent (6%) of the Commission.

However, it is important to take into account:

  • According to national statistics, the price that attains the "For Sale By Owner", is one 19% lower that manages a real estate consultant, which means that the seller manages to win 13% (19% less 6% Commission) more than what had been achieved if it had sold without attended it a real estate professional ncia.
  • Cost of print advertising (leaflets, brochures, "open-houses"),
  • Sale price estimation and monitoring of market
  • Selection of potential buyers
  • Coordination of visits
  • Legal implications as a seller
  • Security and time that prevents it any stressful situations and risk to his person and his family group.

Taking into consideration that the decision of a real estate transaction, it is one of the most important in a person's life, is what we recommend to ensure not only hire a "realtor", if not a counselor with a team capable of providing advice legal, financial, estate and tax that you need.

 



Carlos Cornejo
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Luxur Realty LLC
2786 NW 79th Avenue
Doral, Fl 33178
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