Real estate commission on the sale: What happens after the new Housing Law?

by archynewsycom
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The payment of the real estate commission in the sale continues to generate doubts among the owners. And although the new Housing Law, which came into effect on May 26, regulates the payment of agency fees for rent; the situation remains indefinite when it comes to a sale.

“The real estate commission in the sale can be assumed by both the buyer and the seller, although the most common is that it falls on the owner,” explain the experts of the financial comparator Although they clarify that, in certain autonomous communities such as Valencia, the commission is usually divided between both parties. And how much are the real estate fees in the sale?

In general terms, real estate agencies usually charge a commission that ranges between 3% and 7% of the price of the home, plus VAT. However, from 2016 to date, online real estate agencies have emerged that offer their services in exchange for a much cheaper fixed rate.

“Online real estate agencies can represent significant savings in commissions, reaching up to 80%, compared to traditional ones. But it is important to bear in mind that some services are not included in this rate, such as managing visits to the property or process certain documents”, they explain from HelpMyCash.

But accepting the first price offered by an agency is not always the best option, especially if it is a traditional real estate agency. “When you think about hiring a real estate agency of a lifetime, you can ask for reductions in the commission in exchange for agreeing, for example, an exclusivity commitment,” they say from the financial comparator.

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