real estate

What is a commission?

 

What is a commission?

The Bankrate.com financial term of the day is: "Commission"

Buying a home is a really big deal, and it can be very helpful to have a real estate agent or mortgage broker in your corner. These professionals don't work for free but are compensated with something called commission. It typically amounts to a percentage of the home's selling price or the amount borrowed to pay for it.

How do real estate agents or mortgage brokers make their money? Often by receiving a share of the transaction -- known as commission.

To find the best rates on home loans, visit the Mortgages section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Brand’s perfume: Essence of Lincoln

Lincoln has developed its own perfume fragrance and no, it's not "new car smell," despite being named Essence of Lincoln. Used in the ventilation system of Lincoln dealerships and on scent cards available in showrooms, the scent was developed as a way to create more luxury and warmth for customers visiting the dealerships as they  ... Read more


Connect with us