The fee or payment made to a real estate agent for services rendered, for example someone who hires an agent to sell her/his home pays the agent a commission. A real estate agent usually charges commission for services rendered. Normally the licensee deducts his commission from monies held on behalf of the vendor and the managing agent deducts commission from monies received for properties managed.
Commission is paid according to the terms of the agency agreement but typically the agent receives commission if he/she introduces the successful buyer. The sale must be completed.
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