buyer or renter broker commission

A buyer's broker commission or renter's broker commission is the service fee paid by the party seeking a property to his agent upon the successful location of a satisfactory property and the closing of a deal with its owner to purchase or lease the property.

The property seeker is the paying client. The stated fee follows finding a satisfactory property and closing the purchase or lease with its owner.

The owner's broker commission concerns the other side of the transaction. A shared commission divides a fee between the agents representing both sides.