Anyway, so what is the real estate commission in Georgia?
So what is the real estate commission in Georgia? We’ll break it down to the less complicated elements for you.
- The buyer and the seller each pay the agent’s commission which totals to 6%.
- The less expensive the house, the smaller the commission.
- The more expensive the house, the larger the commission.
- If you are also a real estate agent, you will break even.
- If you are bidding against another buyer, your commission is generally paid by the buyer.
- If you live in California, sellers pay the commission which totals to 5%.
To make sure you fully understand, let’s break down the commission system. When a homeowner wants to sell a house, that homeowner pays a commission to a real estate agent to sell the home. Most homeowner’s combine the commissions with the property price, but in some states, the commission charge is less than 7%. In Georgia, the typical commission fee is 6%.
To explain the other half of the commission equation, the homeowner who is buying the property pays a commission to the real estate agent when the house is sold. In Georgian, the commission fee for the buying home is same as the listing’s fee, at 6%.
The commission can certainly vary from the norm. If an individual is a real estate agent, he or she will get the commission off of their own transaction. If it is a bidding situation with another buyer, the commission is generally done off the first buyer. Now if you’re in California, the seller of the property will pay the buyer’s commission fee of 5%.
So what’s the lesson to be learned here?
To make sure you fully understand, let’s break down the commission system. When a homeowner wants to sell a home to a potential buyer, the homeowner will pay the commission to the real estate agent. In Georgia, this commission fee is 6%. When the homeowner is buying the property, the commission fee to the agent is also 6%. The agent will get the commission off of his or her own transaction. In a bidding situation, the commission is generally paid by the first buyer. Now hold up! If you’re in California, the seller of the property will pay the buyer’s commission fee of 5%.
What’s the lesson to be learned here?
Understanding which states charge what is an important detail for people who are trying to have a budget or get into the future housing market.