Commissions
How Real Estate Commissions Work
In a traditional real estate transaction, there are two agents: a buyer’s agent representing the buyer and a seller’s agent representing the seller.
The Seller of the property determines the commission. In Illinois the average commission is 5%.
Which is normally split equally between the buying agent and the selling agent.
How our refund works
At closing you, our homebuyer will receive a BestBid Realty check for at least 50% of our commission and up to 70% of our commission. For example purposes, a $400,000 home, with a 5% commission split equally between the agents, will give you a refund of $5,000.00.
*BestBid Realty must make at least $3000.00 per transaction.
