Is it standard that you have to pay 10% of the years rent as a commission to the rental agent in Fairfield County if you are the tenant?
Commissions paid by the buyer or tenant should be outlined in your representation agreement and discussed. Typically, an agent representing a buyer or tenant will indicate a commission level that will be owed within the agreement. If the property was listed by another brokerage firm, there is usually a commission paid by the landlord which will cover the tenant's agent commission. If the property was not listed with another agency, then a commission may not have been paid by the landlord, leaving you owing the commission.
Either way, it is common practice that a 1 month commission is paid and split between the listing agent and the buyer/renting agent.
Best wishes,
Christopher Rich - REALTOR
Your Fairfield County Real Estate Agent
William Raveis Real Estate
There is no "Typical" rental commission or fee here in Fairfield County. All commissions are negotiable by law. If a rental is listed in the MLS then the landlord has agreed to pay a fee to the agents to find a suitable tenant. If I work with a tenant to find a rental from the MLS then I collect the fee from the listing agent or landlord. If they will not pay a fee, then I will tell the tenant up front and negotiate with them to pay for my services.
In CT, commissions are not set by law -- they are negotiable, but companies can set up their own policies. Most companies get paid by the seller/lessor, however, there are a few that charge the tenant. Investigate before you choose a broker.
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