Real Estate Commission in Turkey 2023;
The commission rate of real estate companies is determined by the regulations on real estate trade. In this regulation, real estate sales commission is defined as “2% + VAT (20%) of the sales price” and is collected separately from the buyer and seller. On the other hand, the real estate commission, which is 4% in total, can only be paid by the buyer or seller if there is a written agreement. In case of real estate rental, the maximum commission fee can be paid as “one month rent + VAT (20%)”. In addition, although the rent is normally paid by the lessee, the fee is paid equally by the buyer and the seller, unless it is expressly stated in the contract that the lessee pays the commission.
Real Estate Commission Rules:
Real Estate Trade Regulation Article 20
In real estate commercial transactions, the service fee rate cannot be more than four percent of the sales price included in the brokerage contract, excluding VAT. In leasing transactions, the service fee cannot exceed the monthly amount of the rental fee, excluding VAT, specified in the rental brokerage agreement. Unless otherwise agreed in writing, the cost of services is shared equally between the business owner and the buyer or tenant. Real estate agent and real estate consultant cannot charge a fee for housing display. Real estate agents cannot demand the right or price of real estate display. However, it may charge shipping only if the property is outside the region.
What is a Real Estate Commission Agreement?
If a real estate agent requests a purchase, a contract must be made. This contract contains information about the value of the property, the amount of commission payable and other transactions. Services mediating the residence between the buyer and the seller are carried out in accordance with this contract. The real estate company imposes fees and responsibilities on the buyer and seller by making a contract. Therefore, it is important not to sign the contract without reading the terms and conditions to avoid various unfair treatments in the future.
What happens if you don’t pay commission on the property?
Buyers and sellers must pay the commission rates specified in their contract with the real estate agent, as this contract creates a right for the real estate agent and a liability to the buyer and seller. If the parties fail to fulfill their borrowing obligation within a certain period of time, the execution process may begin within the contract.
You can use the tool below to calculate real estate commission.
