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When selling a house, the seller typically pays the full real estate commission, which is usually around 5% of the home's sale price. This commission is often split between the seller's agent and the buyer's agent, with each receiving about 2.5% to 3%.
For example, if your house sells for $300,000, the total commission would be:
[ 300,000 \times 0.05 = 15,000 ]
So, the seller would pay $15,000 in total, which might be split as follows:
Seller's agent: $7,500
Buyer's agent: $7,500
However, the exact commission can vary based on the agreement you have with your real estate agent, and it can sometimes be negotiated. Some agents offer lower rates or flat fees, so it's always a good idea to discuss the details with your agent before listing your property.
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