A common question in the real estate industry is: How much does a real estate agent make in Tennessee? In residential purchase/sale transactions, the commission is typically 5% to 6% of the property’s sales value. This percentage is split between the buyer’s and seller’s agents, which translates to approximately 2.5% to 3% for each.
Tennessee is a diverse state with growing cities like Nashville, Memphis, Chattanooga, and Knoxville. This makes the job of a real estate agent challenging. The agent must know the local market and be in contact with buyers and sellers. Furthermore, it’s important for the agent to be available before, during, and after the transaction to ensure all conditions are met.
Real estate agents make a huge commitment to representing sellers to sell their properties at the best possible price. Buyers trust their agent to actively pursue their interests and find the best property for their needs.
Due to the work and responsibility involved, the commission received by real estate agents is well-earned and necessary to ensure optimal results. The commission benefits both the seller’s and buyer’s agents, ensuring satisfactory results for both parties.
In short, although real estate agents’ commissions may seem high, they reflect the work and responsibility they have in representing buyers and sellers. In real estate transactions, time and effort are essential to achieving the best possible outcome, benefiting both parties.
