Fee for service real estate, a review
Traditionally, real estate commissions have been calculated as a percentage of the sale price of a home. Real estate commission depends on the final sale price and is paid out and split between seller and buyer real estate brokers at closing. Real estate commissions are typically set by the selling broker and range between five and six percent of the sale price. Until now, this system has been the sole method for payment of broker services. Licensed real estate brokers now have the choice of offering their services for a flat rate instead of a percentage based real estate commission.