When a seller lists their property with a brokerage they typically enter into a contract known as a listing agreement. A listing agreement, in addition to other guidelines, outlines the broker’s compensation structure. These commissions are paid by the seller at closing.
There are two sides to every transaction. The listing agent, who markets the property, and the selling agent, who facilitates the sale. In a legacy brokerage, the commission is usually 5-6% and split between the listing agent and the selling agent.
It’s legally possible in the state of Florida for an agent to work with both the buyer and the seller in a transaction.
In this situation, the agent captures “both sides” of the sale and would collect the entire commission offered by the seller.