The average real estate agent commission covers a wide range of services an agent provides during a home sale. These services can include: working with the seller to set a realistic price for the home, marketing it through a variety of online and offline channels, professionally presenting the home to potential buyers, negotiating the transaction details, being present during inspections and appraisals, and ultimately closing the sale.
As mentioned earlier, one arrangement is to split the commission evenly between the buyer’s agent and the listing agent, though this can vary based on several factors and the terms of the contract. For example, if a home sells for $250,000 with a 6% commission, and the parties have agreed to split the commission equally between the agents, the total commission of $15,000 would be split, with each agent receiving $7,500.
It’s important to also note that after the initial split, the commission may then be divided between the broker and the agent. So, the actual agent may only get 1.5% of a 6% commission.