Question

Which fees are negotiated between the seller and the broker, and can be either a lump sum or a percentage of the listing amount?

1) Listing fees
2) Brokerage fees
3) Transaction fees
4) Closing fees

Answer 1

Brokerage fees are the costs negotiated between a seller and a broker, paid for the broker's services in selling property, and can be a lump sum or a percentage of the sale.

Step-by-step explanation:

The fees that are negotiated between the seller and the broker, which can be either a lump sum or a percentage of the listing amount, are known as brokerage fees. These fees are typically agreed upon when the seller signs a listing agreement with the broker, and they compensate the broker for their services related to selling the property. The exact amount or percentage is variable and is subject to negotiation between the seller and the broker. Brokerage fees are a common expense in real estate transactions and are typically paid at closing.