Commission
What agents are paid when a deal closes, usually a percent of the sale price. It's always negotiable. It goes to the brokerage, which pays the agent their share.
Also called: realtor fee, agent fee, commish
Related terms
An agent's total commission before the brokerage split and fees. Brokerages use it to measure production and to figure caps.
How a commission is divided between the agent and the brokerage. With an 80/20 split, the agent keeps 80% and the brokerage gets 20%, often until a cap.
How the buyer's agent gets paid. It can come from the buyer, from the seller as a concession, or from the listing brokerage. It's set in the buyer agreement and offer.
A share of the commission paid to an agent who sends a client to another agent, often 25% to 35%. It must be paid broker to broker.
The contract between a seller and a brokerage to sell a home. It sets the price, the commission, how long it lasts and what the agent will do.