When involved in buying, selling, or leasing property, whether as a buyer, seller, owner, or tenant, it’s essential to understand the real estate commission you will need to pay. The real estate commission is the fee owed to the broker for their services during the transaction. This fee is usually calculated as a percentage of the final sale or purchase price or as a percentage of the rent and often includes VAT. Below, we break down the differences in real estate commission for sellers, buyers, owners, and tenants.
Real Estate Commission from Sellers for Property Sale
The commission that sellers pay to the broker for selling their property varies depending on the property’s location and the final sale price.
- Commission 3% + 24% VAT: This applies to the sale of properties located within the Halkidiki region. The percentage is calculated based on the final sale price of the property. For example, if the property sells for 100,000 euros, the commission will be 2,000 euros plus VAT, totaling 2,480 euros.
- Commission by agreement + 24% VAT: This applies to property sales outside the Halkidiki region. The percentage and total fee are determined through negotiation between the seller and the broker.
- Commission for property sales with prices under 50,000 euros: The real estate commission is set at 1,000 euros plus 24% VAT or by agreement.
Discount for property sales with prices over 2,000,000 euros: High-value property sales may come with a discounted commission, as agreed upon with the broker.
Real Estate Commission from Buyers for Property Purchase
Like sellers, property buyers are also required to pay a real estate commission. The fee percentage depends on the property’s location and purchase price.
- Commission 3% + 24% VAT: This applies to property purchases within the Halkidiki region. The percentage is calculated based on the final purchase price of the property.
- Commission by agreement + 24% VAT: This applies to property purchases outside the Halkidiki region. As with sales, the percentage and total fee are determined through negotiation.
- Commission for property purchases with prices under 50,000 euros: The real estate commission is set at 1,000 euros plus 24% VAT or by agreement.
- Discount for property purchases with prices over 2,000,000 euros: High-value property purchases may come with a discounted commission, as agreed upon with the broker.
