1. What is Realtor Commission?

Realtor commission is the fee paid to real estate agents for their services in facilitating a property sale. In Florida, this is 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 calculator uses the standard commission formula:

Where:

• \( Sale\ Price \) — Final selling price of the property
• \( Commission\ Rate \) — Agreed percentage rate (typically 5-6% in Florida)

Explanation: The commission is calculated by multiplying the sale price by the commission rate (converted from percentage to decimal).

3. Florida Realtor Commission Standards

Details: In Florida, real estate commissions are negotiable but typically range between 5-6% of the sale price. This is usually split between the listing and buying brokers.

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 show the total commission amount before any splits.

5. Frequently Asked Questions (FAQ)

Q1: Who pays the realtor commission in Florida?
A: Typically the seller pays the full commission, which is then split between the listing and buyer's agents.

Q2: What is the average commission rate in Florida?
A: While negotiable, the average is typically 5-6% of the sale price.

Q3: Is commission taxable in Florida?
A: Yes, real estate commissions are considered taxable income for the agents/brokers.

Q4: How is the commission typically split?
A: The total commission is usually split 50/50 between listing and buyer's brokers, who then split their portion with their agents.

Q5: Can commission rates be negotiated?
A: Yes, commission rates are always negotiable between the seller and their listing agent.