Real Estate Commissions: All You Need to Know!
What determines real estate commissions?
Are real estate commissions:
- Negotiable
- Established by the California Association of Realtors®
- Limited per the Commissioner's Code of Ethics
- Determined by local Board/Association of Realtors®
Answer:
Real estate commissions are determined by local Board/Association of Realtors® and are established by the California Association of Realtors® and limited per the Commissioner's Code of Ethics.
Real estate commissions are an essential aspect of the real estate industry, and understanding how they are determined is crucial for both buyers and sellers. In the exciting world of real estate, commissions play a vital role in compensating real estate agents for their services. Let's unravel the mystery behind real estate commissions!
It's time to get acquainted with the exciting world of real estate commissions! Real estate commissions are determined by local Board/Association of Realtors®. These commissions are not negotiable and are established by the California Association of Realtors® and limited per the Commissioner's Code of Ethics. For example, the local Board/Association of Realtors® may set a standard commission rate of 6%, which is then applied to the sale price of a property.
By understanding the factors that determine real estate commissions, both buyers and sellers can navigate the real estate market with confidence. So, the next time you're buying or selling a property, you'll be armed with the knowledge you need to make informed decisions!