{"id":5711,"date":"2021-04-06T02:42:27","date_gmt":"2021-04-05T17:42:27","guid":{"rendered":"http:\/\/irikorea.com\/?p=5711"},"modified":"2022-05-15T21:47:19","modified_gmt":"2022-05-15T12:47:19","slug":"how-much-is-the-commission","status":"publish","type":"post","link":"https:\/\/irikorea.com\/en\/how-much-is-the-commission\/","title":{"rendered":"How Much is the Commission?"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<div class=\"wp-block-getwid-section alignfull alignfull getwid-anim zoomInUp getwid-section-content-full-width\" data-wow-duration=\"1500ms\" data-wow-delay=\"200ms\"><div class=\"wp-block-getwid-section__wrapper\"><div class=\"wp-block-getwid-section__inner-wrapper\"><div class=\"wp-block-getwid-section__background-holder\"><div class=\"wp-block-getwid-section__background\"><\/div><div class=\"wp-block-getwid-section__foreground\"><\/div><\/div><div class=\"wp-block-getwid-section__content\"><div class=\"wp-block-getwid-section__inner-content\">\n<p>Almost every real estate transaction involves real estate commissions. <\/p>\n\n\n\n<p>The following table shows typical commission rates of 32 countries in 2002 and 2015 for residential transactions, which were summarized by Wall street Journal. (<a rel=\"noreferrer noopener\" href=\"https:\/\/graphics.wsj.com\/table\/commish_1016\" target=\"_blank\">See Source)<\/a> <\/p>\n\n\n\n<div class=\"wp-block-stackable-divider is-style-bar stk-block-divider stk-block stk-d0ab5aa\" data-block-id=\"d0ab5aa\"><style>.stk-d0ab5aa hr.stk-block-divider__hr{background:var(--theme-palette-color-5,#e2eaf5) !important}<\/style><hr class=\"stk-block-divider__hr\"\/><\/div>\n\n\n\n<figure class=\"wp-block-table\">\n<table class=\"table table-striped table-gray-200 table-bordered text-small\" style=\"font-size: 90%;\">\n<thead>\n<tr>\n<th style=\"width: 100px; text-align: center;\">Country<\/th>\n<th class=\"has-text-align-center\" style=\"width: 85px; text-align: center;\" data-align=\"center\">2002(%)<\/th>\n<th class=\"has-text-align-center\" style=\"width: 85px; text-align: center;\" data-align=\"center\">2015(%)<\/th>\n<th style=\"text-align: center;\">Notes<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Argentina<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">6<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td>2002: 6% commission, half paid by the buyer, the other half by the seller; buyer&#8217;s agent not required<br \/>2015: 3%-4% paid by the buyer and 1%-2% paid by the seller<\/td>\n<\/tr>\n<tr>\n<td>Australia<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2.5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2<\/td>\n<td>2002: 5% commission on the first $18,000, 2.5% exceeding that<br \/>2015: 2% paid by the seller; buyer&#8217;s agent not typical<\/td>\n<\/tr>\n<tr>\n<td>Belarus<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">10.5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2<\/td>\n<td>2002: 6%-15% commission, averaging around 10%. Public information is scarce.<br \/>2015: 1%-3% paid by the seller; buyer pays a fixed amount of $1,500<\/td>\n<\/tr>\n<tr>\n<td>Belgium<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">3<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">3<\/td>\n<td>2002: 3% commission paid by the seller<br \/>2015: No change<\/td>\n<\/tr>\n<tr>\n<td>Brazil<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td>2002: 5% commission, possibly lower for more expensive homes<br \/>2015: No change.<\/td>\n<\/tr>\n<tr>\n<td>Canada<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4.5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">3<\/td>\n<td>2002: 3%-6% commission<br \/>2015: 3% paid by seller, with some markets as high as 5%<\/td>\n<\/tr>\n<tr>\n<td>China<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">7.5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2<\/td>\n<td>2002: No set regulations and standards for a real-estate transaction in China. Commission fees vary from 5% to 10%.<br \/>2015: 0%-0.5% paid by seller. Buyer pays 1%-3%<\/td>\n<\/tr>\n<tr>\n<td>Denmark<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">3<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2<\/td>\n<td>2002: 2%-4% commission. Buyer pays 25% of sale price transfer tax; advertising provided by real-estate agent.<br \/>2015: 1%-3% paid by the seller<\/td>\n<\/tr>\n<tr>\n<td>Finland<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2<\/td>\n<td>2002: Fees run to about 5% of the sale price on condos, and 3%-4% on single-family homes. More expensive homes have lower commission fees. The government collects a value added tax (22% of the selling price).<br \/>2015: 2% paid by the seller, up to 3% in some regions<\/td>\n<\/tr>\n<tr>\n<td>France<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">N\/A<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td>2002: Only 50% of property sold are listed with a real-estate agent; transactions are kept very private. About half of homes sold by the owner.<br \/>2015: Two-thirds of sellers use a real-estate agent with commissions ranging from 4%-6% paid by the seller. Buyers will compete to pay these fees when inventory is tight<\/td>\n<\/tr>\n<tr>\n<td>Germany<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4.5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td>2002: Negotiable rate that ranges from 3%-6%<br \/>2015: 3%-6% typically split between seller and buyer; in some markets, the buyer covers the full commission<\/td>\n<\/tr>\n<tr>\n<td>Greece<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td>2002: 4% commssion, split evenly between buyer and seller.<br \/>2015: No change<\/td>\n<\/tr>\n<tr>\n<td>Hong Kong<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2<\/td>\n<td>2002: One agent may deal with both the buyer and seller. However, both parties typically have separate lawyer representation.<br \/>2015: After introduction of buyer&#8217;s agent, 1% paid by seller and 1% paid by the buyer<\/td>\n<\/tr>\n<tr>\n<td>Indonesia<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td>2002: 5% paid by either buyer or seller. A buyer\u2019s broker is required for real-estate transactions.<br \/>2015: 3%-5% paid by the seller<\/td>\n<\/tr>\n<tr>\n<td>Ireland<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.75<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.5<\/td>\n<td>2002: In cities 1.5%-2%, and small towns 2- 3%; also properties can be sold through an auction system.<br \/>2015: 1%-2% paid by the seller<\/td>\n<\/tr>\n<tr>\n<td>Israel<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td>2002: 4% commission rate equally split between buyer and seller\u2019s agents.<br \/>2015: 2% paid by seller, 2% paid by buyer<\/td>\n<\/tr>\n<tr>\n<td>Italy<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td>2002: Paid by both buyer and seller: each party pays 2%-3%.<br \/>2015: 2%-3% paid by seller, 2%-3% paid by buyer<\/td>\n<\/tr>\n<tr>\n<td>Jamaica<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td>2002: 5% paid by the seller<br \/>2015: No change<\/td>\n<\/tr>\n<tr>\n<td>Japan<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">3<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">6<\/td>\n<td>2002: 3% paid by the seller<br \/>2015: 3% paid by the seller, 3% paid by buyer<\/td>\n<\/tr>\n<tr>\n<td>Malaysia<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2<\/td>\n<td>2002: 3% on the first $100,000, then 2% of the remaining sale amount<br \/>2015: 2%, split between buyer and seller, sometimes paid by one side<\/td>\n<\/tr>\n<tr>\n<td>Mexico<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">7.5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">7.5<\/td>\n<td>2002: 5%-10%. Large emphasis on Multiple Listing service.<br \/>2015: 5%-10% paid by seller, depending on region<\/td>\n<\/tr>\n<tr>\n<td>Netherlands<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.75<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.5<\/td>\n<td>2002: 1.5%-2%. Broker represents either the buyer or the seller but not both. The seller pays the fees.<br \/>2015: 1%-2% paid by the seller; buyer&#8217;s agent infrequent but if used, paid by buyer<\/td>\n<\/tr>\n<tr>\n<td>Norway<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">2.5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.75<\/td>\n<td>2002: 2%-3%. Broker represents both parties in the transaction<br \/>2015: 1.5%-2% paid by the seller<\/td>\n<\/tr>\n<tr>\n<td>Philippines<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td>2002: 5%. Broker represents either the buyer or the seller, not both.<br \/>2015: 3%-5% commission, split or paid in full by one side of transaction<\/td>\n<\/tr>\n<tr>\n<td>Russia<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">7.5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td>2002: For Sale by Owner (FSBO) listings are very common. Reliable market information is difficult to acquire.<br \/>2015: 3%-5% paid by the seller; typically no buyer&#8217;s agents<\/td>\n<\/tr>\n<tr>\n<td>Singapore<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.75<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.5<\/td>\n<td>2002: For-sale-by-owner listings are rare.<br \/>2015: 1%-2% paid by the seller<\/td>\n<\/tr>\n<tr>\n<td>Spain<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td>2002: Commission depends on the property location, averaging 5% of total estate price.<br \/>2015: 5% paid by the seller<\/td>\n<\/tr>\n<tr>\n<td>Sweden<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.5<\/td>\n<td>2002: 5% paid by seller. Higher commission charged for lower-priced units<br \/>2015: 1%-2% paid by the seller<\/td>\n<\/tr>\n<tr>\n<td>Thailand<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td>2002: 3%-5%<br \/>2015: No change<\/td>\n<\/tr>\n<tr>\n<td>Trinidad &amp; Tobago<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">4<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">3<\/td>\n<td>2002: 3%-5%<br \/>2015: 3% commission more common<\/td>\n<\/tr>\n<tr>\n<td>United Kingdom<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.5<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">1.5<\/td>\n<td>2002: 1%-2% is typical; in very competitive areas 0.5%-0.75%; in low-priced areas as high as 3.5%.<br \/>2015: 1%-2% paid by the seller<\/td>\n<\/tr>\n<tr>\n<td>United States<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">6<\/td>\n<td class=\"has-text-align-center\" data-align=\"center\">5.5<\/td>\n<td>2002: 6%-7%. Advertising commonly provided by real-estate broker\/agent.<br \/>2015: 5%-6% paid by the seller<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n\n\n\n<p>As shown in the table above, most advanced countries with established agent relationships pay commissions ranging from 3% to a maximum of 10%.<\/p>\n\n\n\n<p>It is reasonable to see the average 4~6%, and in most countries, the seller pays to seller's agent and shares about 50% of it with the buyer's agent.  Where it is normal for buyers pay the buyers commision separately, it is about half of the above rates in most countries. <\/p>\n\n\n\n<p>In general, the lower priced properties has higher commission while the higher priced properties tends to have lower commissions. In the case of 5-6%, this includes advertising expenses.<\/p>\n<\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":12379,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign-re"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/posts\/5711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/comments?post=5711"}],"version-history":[{"count":0,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/posts\/5711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/media\/12379"}],"wp:attachment":[{"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/media?parent=5711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/categories?post=5711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/tags?post=5711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}