real estate commission is the fee charged for the services provided by a real estate consultant or real estate agent in a real estate transaction. Real estate commission rates in Turkey and other countries can vary and usually vary according to the sale or lease transaction.
In Turkey, real estate commission rates are based on a tariff set by the General Directorate of Land Registry and Cadastre. Generally, the real estate commission is divided between the buyer and the seller and the rates are as follows:
1. Sales Transactions:
In sales transactions, the real estate commission is usually divided in half between the seller and the buyer. Rates can vary between 2% and 4% depending on the sale transaction and the services of the real estate agent.
2. Rental Transactions:
In rental transactions, the real estate commission can be split 50-50 between the tenant and the landlord. Usually, a commission of one year's rent is charged, but rates may vary depending on market conditions and the services of the real estate agent.
Real estate commission rates may vary depending on the state of the real estate market, the region and the services offered by the real estate agent. Rates may be higher, especially for luxury real estate or special projects.
In order to get clear information about commission rates during real estate transactions, it is recommended to talk to your real estate agent or real estate company. It is also important to determine for which transactions the real estate commission will be paid and when it will be collected.