What does 'Split Commission' mean when buying a property?

Find out what Split Commission means when you are buying a property. 'What does Split Commission mean?' plus over 150 other property related terms and jargon in plain English

Split Commission

Split commission is a practice often found in very small estate agents.

Often found in very small estate agents. One agent will win an instruction to sell a property for a certain fee. He will then offer to split this fee with another agent if they can sell it - sometimes without telling the vendor.

There are security issues with this and the vendor ends up with a lack of control, not knowing where or how their property is being marketed.

If the estate agent is up front about this practice there is nothing to be concerned about.

As a buyer you will probably never be aware of this and its largely irrelevant to you because the vendor pays the estate agents fees.

To learn all the lingo you'll need to purchase a property the smart way pick up a copy of my ebook How to Really Buy a Property.

Search Results for 'split commission' in
How to Really Buy a Property

"... agency. There are three other scenarios that any vendor should be aware of, at least one of which should be avoided: Joint Sole Agency split commission Multiple Agency - Joint Sole Agency - This is a fallacy and a very glossy way of saying you are on with two agents. You are either..."
"... advertising the words "joint sole" can be used to make the property sound exclusive in some other way than having to say "multiple". - split commission - This will often happen without the vendor knowing it and works something like this: You instruct Agent A to market your property..."
"... has keys and an agent you may have decided to avoid is actually on the case. split commissions are most often found in very small agents where they do not have the staff or resources to market effectively. - Multiple Agency - Most agents will try to make you feel bad about going on..."

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