What percentage of commission is typical for a real estate transaction in Pennsylvania?

In Pennsylvania, the typical percentage of commission for a real estate transaction ranges from 5% to 6% of the sale price of the property. This percentage is fairly standard across many regions and has been established based on common practices within the real estate industry. The commission is usually split between the listing agent and the buyer's agent, each receiving a portion of the total commission.

The 5% to 6% range allows for flexibility depending on various factors, including the specifics of the transaction, the services provided by the agents, and the overall real estate market conditions. It is essential for parties involved in a real estate transaction to discuss and agree on the commission rate ahead of time, ensuring clarity and avoiding misunderstandings.

Other percentage ranges mentioned, such as 1-2% or 3-4%, are less common and are often seen in specific scenarios, such as discounted services or low-cost listings, which do not reflect the average market practices. The 7-8% range is generally considered high and could deter potential clients, making the 5-6% range a norm within the industry.