Brokerage

Brokerage is the fee earned by a real estate agent, broker, or intermediary when they successfully bring together a buyer and seller to complete a property transaction. The commission is typically calculated as a percentage of the purchase price and is only payable upon actual completion of the deal.

In practice, brokerage fees are usually charged by one or both parties and their amount is entirely negotiable, agreed in writing before engagement. This performance-based model aligns the agent's interests with closing the transaction rather than merely providing listing or advisory services.