1. What is Real Estate Commission?

Real estate commission is the fee paid to real estate agents for their services in facilitating a property sale. In North Carolina, this is typically a percentage of the final sale price, negotiated between the seller and listing agent.

2. How Commission is Calculated

The standard commission calculation formula is:

Where:

• Sale Price — Final selling price of the property
• Commission Rate — Percentage agreed upon (typically 5-6% in NC)

Example: For a $300,000 home at 5.5% commission rate, the total commission would be $16,500.

3. North Carolina Commission Rates

Details: While commission rates are negotiable in North Carolina, the typical range is 5-6% of the sale price. This is usually split between the listing agent and buyer's agent.

4. Using the Calculator

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

5. Frequently Asked Questions (FAQ)

Q1: Who pays the real estate commission in NC?
A: Typically the seller pays the commission, which is deducted from the sale proceeds at closing.

Q2: Are commission rates fixed in North Carolina?
A: No, commission rates are always negotiable between the seller and their listing agent.

Q3: How is the commission split between agents?
A: The total commission is usually split 50/50 between listing and buyer's agents, but this can vary.

Q4: Are there additional fees beyond commission?
A: There may be closing costs and other fees, but these are separate from the agent commission.

Q5: Can commission rates be lower than 5%?
A: Yes, rates can be lower, especially for high-value properties or with discount brokerages.