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There is no established or required rate of commission charged by licensees for the performance of activities requiring a license. Commission rates are negotiable. However, a broker is not required to negotiate. The broker may have established his own rate of commission and chooses not to deviate from that figure. Commission rates do tend to vary depending on the type of property offered for sale. For example, the rate charged for a residential property may be less than that charged for vacant ground. The length of time a property may be on the market and the cost of advertising are just two of the factors brokers consider when setting individual commission schedules
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified real estate lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local real estate attorney to discuss your specific legal situation.