Source: The Source Weekly —
All too often there is confusion on how real estate brokers get paid and who pays them. Many buyers and sellers know that real estate is a commission-based profession, yet all too often there is confusion about how and how much real estate brokers are compensated.
The vast majority of real estate brokers work for a commission in the form of a percentage of the final sales price after the transaction has closed. Only when a transaction successfully closes do any of the real estate brokers involved in the transaction get paid. There are situations where a broker may work on a flat fee, but that is not usually the case.