What is a 60/40 commission split?
The commission is 6% of the sales price, which is $21,000. This gross amount is split between the seller and buyer’s agent, with each representative receiving $10,500. Then, the 60/40 split is enacting for each agent, leaving the broker with 40% ($4,200) and the agent with 60% ($6,300).
What percentage do most realtors take?
Real estate commissions can be negotiated, but they typically run about 5 percent to 6 percent of a home’s sale price. The exact terms of an agent’s commission vary from sale to sale, and can depend on region and which firm they work for.
What is MD Realtor commission?
What percentage do most realtors charge in Maryland? MD realtor commission is 5.11%, split between the buyer’s agent and the seller’s agent. On average, the buyer’s agent gets 2.51% and the seller’s agent gets 2.6%. If you want to pay less than the average, work with a low commission brokerage.