Rants about real estate commission
Up until now, real estate commissions were calculated at five to six percent, based on the sale price of a home, and divided between the brokers on both sides of the transaction. The seller bears full responsibility for payment of the real estate commission; the buyer is responsible for nothing. Lately, though, buyer brokers have been giving a portion of their share of the commission to their clients in the form of a real estate commission rebate. The growth in online real estate listings has spurred the invention of nontraditional ways of doing business in the real estate industry. Brokers are doing less work for their real estate commissions as more people rely on the power of the Internet to buy and sell homes.