Commissions of Real Estate Agents
Estate agents are the middlemen who find the buyers for property sellers and renters for the people who want to rent their properties. The incomes of the estate agents are in form of fees or commissions. The commissions or fees of real estate agents vary from transaction to transaction. The fees against the sale or purchase transactions are different from the rental transactions. Estate agents get commissions from both parties; the buyers and sellers. Here is the detail of the fees and commissions of real estate agents.
Commissions on residential property sale deal
Estate agents get 1% commission from both the buyers and sellers on the sale or purchase of residential properties. So the total commission of estate agents on the successful deal of residential property sale is 2%. For example the residential property price is 1 Crore PKR. The commission of estate agent is 2 LAC PKR.
Commissions on commercial property sale deal
Estate agents get 2% commission from both the buyers and sellers on the sale or purchase of commercial properties. So the total commission of estate agents on the successful deal of commercial property sale is 4%. For example the commercial property price is 1 Crore PKR. The commission of estate agent is 4 LAC PKR.
Commissions on residential rent deal
Estate agents get half month’s rent as commission from both the tenant and landlord on residential rent deals. So the total commission of estate agents on the successful deal of residential rent is 1 month’s rent. For example the monthly rent of residential property is Rs. 10,000/- so commission of estate agent on residential rent deal is Rs. 10,000/-.
Commissions on commercial rent deal
Estate agents get one month’s rent as commission from both the tenant and landlord on commercial rent deals. So the total commission of estate agents on the successful deal of commercial rent is 2 months rent. For example the monthly rent of commercial property is Rs. 10,000/- so commission of estate agent on commercial rent deal is Rs. 20,000/-.