WHOPAYS THE COMMISSIONON?

Compensation for real estate agents, in most transactions in South Florida, is carried out as follows:
Two agents participate in the transaction: the one that represents the seller and the one that represents the buyer and it is the seller of the property who is responsible for paying the commissionorn.

WHATWHATIS THE STANDARD COMMISSION PERCENTAGE?ON?

In South Florida, it is generally six percent (6%) of the sale price and is often divided equally between both agents (the one representing the seller and the one representing the buyer).

DOES THE BUYER PAY COMMISSIONON?

The home buyer in the vast majority of cases does not pay any type of commission to the real estate agent.

AS A SELLER, CAN I SAVE THE COMMISSIONON?

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

However, it is important to take into account:

  • According to national statistics, the price achieved by the “For Sale By Owner” is 19% lower than that achieved by a real estate consultant, which means that the seller manages to earn 13% (19% minus 6% commission) more than what he would have achieved if he had sold without the assistance of a real estate professional.
  • Cost of print advertising (flyers, brochures, “open-houses”),
  • Sales price estimation and market monitoring
  • Selection of potential buyers
  • Coordination of visits
  • Legal implications as a seller
  • Safety and time that prevents you from eventual stressful and risky situations for you and your family group.
  • Taking into consideration that the decision to carry out a real estate transaction is one of the most relevant in a person’s life, which is why we recommend that you make sure to hire not only a “realtor”, but also an advisor with a team capable of providing you with the legal, financial, succession and tax advice you need.