Typically, a realtor commission paid by the seller. In Broward county the seller can expect to pay a commission of 6% along with a transaction fee of $395. The commission fee, once collected is divided between both the listing brokerage and the selling brokerage. An example of this is illustrated below by using a home which sold for $100,000. The job of the listing agent is to market the property and let other realtors know that the property is for sale. The job of the selling agent is to bring a buyer to the home as a result of seeing the listing agents marketing.
How is a REALTOR® Paid
Sale Price: $100,000
Commission (paid by seller) x 6% equals
The Listing Brokerage who did all the marketing of your home splits the commission with the Selling Brokerage who brought the buyer into your home.
|Listing Brokerage||Selling Brokerage|
The commission gets further split with the Broker/Owner of the company. Oftentimes the Realtor has a 50/50 or 50/60 split with their Broker/Owner.
|Listing Realtor||Selling Realtor|
From this fee all of the costs incurred by the Realtor for advertising, marketing, signage, photography, transportation, licensing and education are further deducted. This is an example and all fees are negotiated and can vary from transaction to transaction.