Real Estate Commission Clauses: Contract for Real Property are legal clauses that outline the fees and terms of payment for the services of a real estate agent or broker in the sale of real estate. These clauses typically include the real estate agent’s commission rate, the payment structure, and any other fees associated with the sale. There are two main types of Real Estate Commission Clauses: Contract for Real Property: fixed-fee contracts and percentage-based contracts. In a fixed-fee contract, the real estate agent or broker earns a flat fee for their services, regardless of the sale price of the property. In a percentage-based contract, the real estate agent earns a percentage of the sale price, typically between 3-7%. The terms of the contract will also detail the payment timeline, how payment is to be made, who is responsible for paying the commission, and any applicable taxes and fees.
Real Estate Commission Clauses: Contract for Real Property
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