Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

By GILBERT MOHTES-CHAN In today's rugged economy, location can be a key driver in real estate commission rates throughout California, say agents and brokers across the state. Commissions can run up to 7 percent in regions saddled with foreclosures and sales of bank-owned homes, for example, while a more typical range in the luxury market of Pacific Palisades is 5 percent to 6 percent, and in some rural areas agents report commission rates on the order of 5 percent, said agents and brokers interviewed for this article. Those total commissions rates -- the percentage that brokers earn based on the selling price of a home -- are typically split between a broker representing a seller and a broker representing a buyer in each transaction. And while there may be regional norms, specific ...