REALTOR commission works in two ways. The first way is for the seller’s REALTOR. The representation contract between the homeowner and the listing REALTOR will typically request a commission structure of 6% of the home’s sale price. This is just a customary recommendation from the REALTOR, but it is up to the homeowner to either ratify this recommendation or offer something different. The second way REALTOR commission works is for the buyer’s REALTOR. In the listing agent agreement, the homeowner will determine how much commission the buyer’s REALTOR will receive. Typically, the listing agent will suggest a split of 50/50 of the 6%, meaning they offer the buyer’s REALTOR 3% of the sale price and the listing agent will take 3%. These are real estate norms, but they do not need to be observed. TRELORA does not use a percent commission structure and instead charges a flat fee of $2500 for each side of the sale. We believe in the value that real estate agents provide; we just think REALTORs are paid too much for what their services, which in Seattle, where the average home price is $727,000, REALTORS split $43,620.
How does REALTOR commission work?Trelora2018-10-23T16:22:46+00:00