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Sorry, I didn't explain enough. The total commission remains 6%, but if the Seller's Agent split is only 1.25%, the Seller Agent's Broker (most likely) will den
by notaustinpowers 3y ago
Sorry, I didn't explain enough. The total commission remains 6%, but if the Seller's Agent split is only 1.25%, the Seller Agent's Broker (most likely) will deny that as the Broker would receive a reduced cut of the commission.
The Seller and the Seller's Agent may be cool with the reduction, but the Broker would ultimately have the final say since it's, legally, their contract.
- sokoloff 3y agoAh. I’ve never seen a percentage-based commission divided unequally into the four parts: agent and brokerage crossed with listing and buying. I have seen 6% (1.5% x 4) and 5% (1.25% x 4).
- notaustinpowers 3y agoYeah, it's usually unequal in the area I used to work in. The Agent's have their own agreements with their Brokers that are independent of any sale/purchase they work on. I've seen everything from 50/50 all the way to 90/10 (10% to Broker).