Everything in real estate is negotiable from repairs, price, closing dates, and even agents’ commissions.
Generally, agents are paid from the seller’s proceeds. The percentage or amount is negotiated when the seller signs the listing agreement with a broker. The listing agent negotiates the buyer’s agent’s commission on this same contract while negotiating their own. They are not required to split this commission evenly, but most agents do.
Under Florida law, real estate agents can only be paid by their broker of record for real estate-related work. That means all commissions are collected at closing (by the closing agent) and sent to their respective brokers of records.
Statistically, even the owner that sells their house without an agent will sign a commission agreement with a buyer’s agent. These agreements are usually presented before the buyer’s offer. All fees are subject to negotiations and can vary from transaction to transaction and broker to broker. Commissions range from 2.5% to 10% of sales price, depending on the type of representation and investment required of the agent.
Check out my broker of record, Patti Ketcham, and I talking about how Tallahassee Realtors are paid.