Post by yamanhosen4562 on Feb 11, 2024 7:11:57 GMT -5
Real estate commissions are a recurring topic in the world of buying, selling and renting properties. These fees are paid to real estate agencies as compensation for their services. Although they can vary significantly depending on the market and the property in question, real estate commissions are a significant cost for anyone involved in a real estate transaction. In this article, we will explore in detail what real estate commissions are, how they are calculated, and how they can affect buyers, sellers, and homeowners. What are you going to find in this article [ Hide table of contents ] What are real estate commissions and what does the law say in 2023? The real estate commission is the amount of money that a real estate agency charges for its property brokerage and management services. This can be photographs and videos , visits from potential tenants or buyers, the management of all the documentation necessary to rent the apartment or even the contracting of insurance for non-payment. Real estate brokerage contracts usually have a duration of between three and six months, regardless of whether or not there is an exclusivity clause. They also have an extension clause that specifies that the agreement is automatically renewed for identical periods, unless otherwise given 7 to 15 days' written notice.
At Inmovilla we analyze what exactly the real estate commission is , how much it amounts to, when it must be paid and who must do it, all according to the 2023 law on the purchase and sale of real estate. Exclusivity contract with real Thailand Email List estate commissions. How much does a real estate agency usually charge for a sale? Real estate agencies are in charge of practically the entire process of selling the property , from advertisements , visits, negotiation and paperwork, in exchange, of course, for fees . These are known as the real estate commission, an amount that is not currently regulated by law and that generally generates controversy between sellers and buyers. As there is no law or regulation on what they should charge, the real estate commission, in general, represents between 3% and 7% of the sale price of the apartment. However, it is not possible to determine an exact percentage, because each agency defines the amount of its fees. That is, some charge 5% in all cases; Others charge 3% if the sale price of the apartment is high and 7% if the value is low. Still don't have the best Real Estate CRM on the market? I want my free demo! Inmovilla & Idealista Logo What is the usual commission for renting a home? Real estate rental commissions are another very controversial issue when dealing with real estate agencies and from a legislative point of view, as it is not stipulated how much must be paid to a real estate agency to rent an apartment. The usual percentage is usually between 8% and 10% of the annual income .
But this is only to the owner, on the other hand there is the tenant, who is charged another 10% of the annual rent or 1-2 months of rent , depending on the size of the property and the reference value it has in the market. Real estate agent after collecting the commission. Can the real estate commission be deducted from a rental or sale? The good news is that yes, the real estate commission on a rental or sale of a home can be deducted , deducting it from personal income tax. To do this, it is important to ask the real estate agent for the invoice . And beware! Some agencies offer to charge less fees or not charge VAT to the seller or tenant, if they agree not to receive an invoice. This practice is illegal and, furthermore, inconvenient for the owner. Remember: without an invoice you will not be able to deduct the fees in personal income tax. When can real estate commissions be claimed? The statute of limitations for an action to claim fees for professional services is three years from the completion of the professional services. There are certain situations or times when the agency has the right to claim its commission: In the event that it is the real estate agency that has recruited the buyer or tenant. If an exclusivity has been signed and the owner sells or rents the apartment on his own. When it is clearly established in the intermediation contract. If it has not been the real estate agency that has made contact between the two parties, and if there is no exclusivity clause in the contract, then the real estate agency cannot claim its commission.
At Inmovilla we analyze what exactly the real estate commission is , how much it amounts to, when it must be paid and who must do it, all according to the 2023 law on the purchase and sale of real estate. Exclusivity contract with real Thailand Email List estate commissions. How much does a real estate agency usually charge for a sale? Real estate agencies are in charge of practically the entire process of selling the property , from advertisements , visits, negotiation and paperwork, in exchange, of course, for fees . These are known as the real estate commission, an amount that is not currently regulated by law and that generally generates controversy between sellers and buyers. As there is no law or regulation on what they should charge, the real estate commission, in general, represents between 3% and 7% of the sale price of the apartment. However, it is not possible to determine an exact percentage, because each agency defines the amount of its fees. That is, some charge 5% in all cases; Others charge 3% if the sale price of the apartment is high and 7% if the value is low. Still don't have the best Real Estate CRM on the market? I want my free demo! Inmovilla & Idealista Logo What is the usual commission for renting a home? Real estate rental commissions are another very controversial issue when dealing with real estate agencies and from a legislative point of view, as it is not stipulated how much must be paid to a real estate agency to rent an apartment. The usual percentage is usually between 8% and 10% of the annual income .
But this is only to the owner, on the other hand there is the tenant, who is charged another 10% of the annual rent or 1-2 months of rent , depending on the size of the property and the reference value it has in the market. Real estate agent after collecting the commission. Can the real estate commission be deducted from a rental or sale? The good news is that yes, the real estate commission on a rental or sale of a home can be deducted , deducting it from personal income tax. To do this, it is important to ask the real estate agent for the invoice . And beware! Some agencies offer to charge less fees or not charge VAT to the seller or tenant, if they agree not to receive an invoice. This practice is illegal and, furthermore, inconvenient for the owner. Remember: without an invoice you will not be able to deduct the fees in personal income tax. When can real estate commissions be claimed? The statute of limitations for an action to claim fees for professional services is three years from the completion of the professional services. There are certain situations or times when the agency has the right to claim its commission: In the event that it is the real estate agency that has recruited the buyer or tenant. If an exclusivity has been signed and the owner sells or rents the apartment on his own. When it is clearly established in the intermediation contract. If it has not been the real estate agency that has made contact between the two parties, and if there is no exclusivity clause in the contract, then the real estate agency cannot claim its commission.