In these parts, seven percent commission.
Half to seller’s agency.
Half to buyer’s agency.
Agencies typically split 50/50 agency/agent.
So each agent ends up with 1 1/2%.
Your home page says you are in Pennsylvania. That 7% was common where I lived near Albany, NY.
In the DC area, the rate was about 6% in the early 1990s.
I would probably refuse to pay more than 3% here in booming Florida. Things are slowing some so it might be 4% in the future.
“Agencies typically split 50/50 agency/agent.”
I’ve never thought that was justified.
So, 10% to the big guy?
1 1/2% x 4 = 6%
50% to the broker. Wow. I’m in the wrong area. we get 20-10 based on the experience of the agent and how long they have been with us. Need more training we take 20%, less 10. we don;t jhave an office. Work out of home and car.