brokerage commission

A brokerage commission is a service fee paid to any party acting as an agent for the sale or lease of a property, normally upon successful completion of the transaction.

The fee compensates the agent's role in a sale or lease. It is distinct from the purchase price or rent paid for the property itself.

An owner's broker commission is paid to the owner's agent. A buyer or renter broker commission concerns the property seeker's agent, while a shared commission is divided between agents.