What is the Real Estate Commission for a Residential Property Sale?
Sales commission varies from company to company. However, it is very standard for our area and market a 6% listing commission. Most of the times, this commission is paid by the seller at the time of the closing. However, In some cases and depending on the value of the property and marketing plan, some Real Estate companies require and advance of the projected commission to pay for expenses involved in the marketing and offering of the property. The remaining balance is due at the closing date.
The Sales Commission is always negotiable, unless, the internal policies of the company do not allow for negotiating this. This is more typical of large Real Estate companies, since their overhead is enormous and internal policies are very strict.
In contrast, smaller companies are willing to negotiate their commission in exchange of lack of name recognition and infrastructure.