How Does Real Estate Commission Work In Tampa?

Fivewalls: How Do You Calculate Real Estate Commission In Tampa, FL?

Sellers, Buyers, Commission
Last Updated: Mar 30, 2020

Using a real estate agent to help you buy or sell a property is critical in this ever-changing market, especially during uncertain times. Not only are they able to navigate you through the ups and downs, but they are negotiating on your behalf to get you the best deal and looking after all the paperwork for you! But, you still may not understand exactly how real estate agent commission works and who pays for it. Fivewalls has created a breakdown to you better understand commissions. 
 

What Is The Average Real Estate Agent Commission In Tampa?>>

In Tampa, the average real estate commission is 6% of the final sale price of the home. That will then be split evenly between the listing agent and the buying agent with both receiving 3% of the final sale price.
 

Is Real Estate Commission Negotiable?

how does real estate commission work?, how do you calculate real estate commission in Tampa?, top real estate agents in Florida, top realtors in Tampa, average real estate commission in Tampa, is commission negotiable?, how do I lower my real estate agent's commission?, is it free to use a realtor as a buyer?, Tampa real estate market, how paying a realtor worksCommission is always up for negotiation and should be discussed when you initially interview different agents to see who you would be the right fit for you. Be sure to ask them what services may not be involved if they are going to lower their commission. Honest full-service agents will explain to you why they will or will not lower their commission with the main reason probably being; they can’t afford to market your home otherwise. The marketing materials, advertising on various print or social media platforms, staging, professional photography, and more, all come at a price.
 

How Do I Calculate What I Owe My Real Estate Agent When Selling My Home?

Since the commission for both the buying agent and the listing agent will be 6% of the final sale price of the home, all you would need to do is multiply the sale price by 6%, or by 3% to determine what each agent will be receiving.  For example, if the price of your home is $275,000, 6% in commissions means that you would pay $16,500 for the sale of your home.


Examples:

FINAL SALE PRICE OF HOME MULTIPLIED BY 6% MULTIPLIED BY 3%
$275,000 $16,500 $8,250
$475,000 $28,500 $14,250
$675,000 $40,500 $20,250


Depending on the agreement your agent has with their brokerage, they will likely split their 3% earning again.

Find the right agent for your next property

Is It Free To Use A REALTOR® As A Buyer?

Technically the seller is picking up the tab, since the 6% of the commission will be included in the final sale price of the home, so there are no upfront fees for buyers, although you will still have to budget for closing costs.
 

Tampa real estate, how realtor commission works in Tampa, what is the average real estate commission in Florida?, how to calculate real estate commission in Tampa, how to calculate real estate commission, is real estate commission negotiable?, top realtors in Tampa, top real estate agents in Florida Do I Still Have To Pay My Agent If The Deal Fell Through?

Unless otherwise stated in the agreement you signed with your agent, you are not obligated to pay their commission if they didn’t succeed in selling your home. But, if you decide for whatever reason you no longer what to sell your home and the agent’s contract isn’t up, then yes, you will most likely still have to pay them for their time and services.
 

Understanding the market and agent commissions can be tricky. Agents should be able to clearly explain every step of the process to you and let you know what their commission price includes. If you want to calculate what you’ll owe your REALTOR®, multiplying the final sale price of the home by 6% will help you determine the commission that will be evenly split between the listing agent and buyer’s agent.


Disclaimer: rates subject to change.

 

Looking for an agent in Tampa? Our Fivewalls certified agents are happy to help you:
 

Keegan S. Realtor Profile Photo

Agent Name: Keegan S. | View Agent Profile>>

Serving Area: Florida

"I am very knowledgeable in all 7 counties in the Tampa Bay area: Hillsborough, Pasco, Polk, Sarasota, Manatee, Hernando and Pinellas."
 

Maria A. Realtor Profile Photo

Agent Name: Maria A. | View Agent Profile>>

Serving Area: Florida

Maria has a well-known reputation for her communication skills, five-star customer service experiences, and her ability to pay attention to the little details that truly matter. No mistakes or problem areas get past her and she will never let you buy a home she wouldn't buy herself.
 

Gabriela A. Realtor Profile Photo

Agent Name: Gabriela A. | View Agent Profile>> 

Serving Area: Florida

"My expertise helps me identify problems and develop effective solutions for all real estate transactions. I go above and beyond the call of duty."

Get a home appraisal. It’s free.

Fill the form

Tell us a bit about your home.

Get contacted

A Fivewalls representative will reach out to help you get a detailed property assessment.

Get estimates

Receive at least 3 estimates from top, local real estate agents.