Real estate agents have to be trained and licensed before they can practice the business of real estate. They operate according to the rules and regulations of the governing body which is real estate board.
Sales agents after finishing the necessary training must first attached themselves to a brokerage company, and then obtain a license to start doing any form of real estate transaction.
Similar to other parties involved in the selling or buying of property, real estate agents are paid for their services, a fee of 5% which will be paid by the vendor.
Each brokerage company might have their own system of splitting commissions paid on property sale but the norm is 50/50. This will differ in other circumstances where you have a co broke situation where you will have 2 companies and 2 agents sharing a commission or on referrals which attract some fee but will be based on agreements made by all parties involved.
Most persons are of the perception that real estate agents listing a property for sale or finding property for suitable purchasers reap all the rewards. Not knowing that, whatever fee is paid is not to the sales agent alone but also the broker.Tags: Real Estate Agents In Jamaica | Jamaica Real Estate | Jamaica Property | Real Estate In Jamaica |