1. What is Florida Real Estate Commission?

The real estate commission in Florida is the fee paid to real estate agents for their services in facilitating a property sale. It's typically a percentage of the final sale price and is usually split between the buyer's and seller's agents.

2. How Commission is Calculated

The commission is calculated using this simple formula:

Where:

• Sale Price — The final selling price of the property
• Commission Rate — The agreed percentage rate (typically 5-6% in Florida)

3. Typical Commission Rates in Florida

Details: In Florida, the average real estate commission rate ranges between 5-6% of the home's sale price. This is typically split between the listing agent (2.5-3%) and the buyer's agent (2.5-3%).

4. Using the Calculator

Tips: Enter the property sale price in USD and the commission rate as a percentage (e.g., 5.5). The calculator will compute the total commission amount.

5. Frequently Asked Questions (FAQ)

Q1: Is the commission rate negotiable in Florida?
A: Yes, commission rates are always negotiable between the seller and their listing agent.

Q2: Who pays the commission in Florida real estate transactions?
A: Typically, the seller pays the full commission, which is then split between both agents.

Q3: Are there any additional fees beyond the commission?
A: There may be closing costs and other fees, but these are separate from the agent commission.

Q4: How does Florida's commission compare to other states?
A: Florida's rates are similar to the national average, though rates can vary by market and property type.

Q5: When is the commission paid?
A: The commission is paid at closing from the proceeds of the sale.