Mirador's director of sales, Jordan March, recently discussed broker fees in Brick Underground's "Ask an Expert" segment. As it turns out, broker fees are not a fixed percentage and can change based on the situation.
"In a commission agreement, everything is negotiable," Jordan explains. "Feel free to create terms that allow you incentivize your broker, while [creating] scenarios that would allow you to maximize your net profits."
If there are two brokers involved, those being the seller's and the buyer's, there is a six percent commission that is typically split. That number can fluctuate without the presence of a buyer's broker depending on other factors, such as time and effort spent selling the property.
Read the full article to find out more here.