Published on : 08 June 20202 min reading time
The fees charged by a real estate agency in the case of a real estate sale are not fixed by a certain threshold. Thus, each agency is free to set its own rates. However, some investigations show that the fees charged by real estate agencies are very similar.
The share of the estate agency in the sale of property
When the contract is drawn up between the seller and the estate agency, the latter must clearly indicate the amount it will receive once the sale is completed. According to the confrontation of many sources, real estate agencies take approximately a share of 5% to 8% on the sale price of real estate as agency fees. The margin charged depends on each agency. Before buying a house, the buyer should check this detail. In addition, be aware that the prices offered by real estate agencies are negotiable. The buyer can therefore negotiate the price when buying an apartment.
The payment of the real estate agency
The payment of the real estate agency takes place once the transaction has been completed. The agency fees thus remain the responsibility of the seller who has used the services of the agency during a property sale. In principle, the buyer who decides to buy a house is not required to pay agency fees. However, if a contractual clause provides for the distribution of costs between the two parties, this must be respected. Among other things, the payment of the agency commission will only take place after the signature at the notary’s office and if at the end the deed of sale is not signed, the real estate agency will not receive the commission.
Tips for reduced agency fees
Once the principal contract has been drawn up with the estate agency, the seller can negotiate the amount of the fees to be deducted from the sale price of the property. Like the buyer who is considering buying a house, the seller has the right to negotiate the fee. Otherwise, as in the case of a purchase of an apartment, he or she can use a price simulator. This will allow him to compare several agency prices and get a better price.