Listing Contract – Forming Commission

Commission is the payment which the real estate agent receives for the facilitating and the successful conclusion of the real estate transaction – namely the property sale. The commission is not a set figure and it negotiated between the two parties – the owner or seller and the estate agency.

Commission fees range from area to area and also vary in accordance to the type of property in question – commercial properties attract different commission figures than residential properties. In some countries or areas, the commission is a set percentage which is included in the listing contract by default, though in these cases the commitment on behalf of the agent should be more substantial.

Another very important aspect regulating the commission which should be included in the contract is when and how the commission amount is actually earned. Obviously, it cannot be paid upfront as there is no positive outcome yet. Generally the agency commission is earned at the moment of a successful deal meaning the moment when a willing, able buyer agrees to pay the price of the property in question and attain ownership. 

The same applies if the buyer comes up with an offer which the seller is happy to accept right there and then – this also counts as commission earned for the agency. Sometimes buyers and sellers alike get cold feet and the deal reaches a stalemate. If you are having second thoughts then it’s best to sleep on it and take your time before agreeing to the listing contract details, because you may end up paying commission anyway or a percentage of it for walking away from the deal in the last minute. Owners would be looking to up the value of the property, regardless of whether or not the commission asked by the agent is substantial or not – a higher priced house means more money for everyone. 

One easy way to give some years back to the place is to perform professional house cleaning Harefield Grove local domestic companies will provide the necessary assistance, so call in a team of cleaners in Lower Edmonton and concentrate on the sale.