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The broker commission in property sales

Important information on cost distribution

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Compared to selling a house or apartment independently in Hamburg, marketing through a professional real estate agent offers comprehensive advantages. Whether in Altona or one of the surrounding districts: the valuable services of an experienced industry expert not only save you considerable time and effort but also enable you to realize your property sale quickly and under the best conditions.

The scope of work we undertake as real estate agents for you includes everything from a thorough market value analysis to impressive property presentation, qualified viewings, and competent contract negotiations. This ensures that we guide you step by step to a successful and holistic sales outcome. The broker commission or fee is the term for the amount charged for these diverse marketing efforts.

In this article, Engel & Völkers Hamburg aims to provide you with transparent and understandable information regarding who bears the costs of a broker-supported sale, when these costs are due, and the typical amount. Get informed now!

Table of Content

Broker commission: legal reform leads to new distribution of commission costs for real estate agents in Hamburg
When is the broker commission due for a property sale in Hamburg?
What costs are incurred by hiring a real estate agent in Altona and the surrounding area?

Broker commission: legal reform leads to new distribution of commission costs for real estate agents in Hamburg

Since December 2020, the new "Law on the Distribution of Broker Costs for the Mediation of Purchase Contracts for Apartments and Single-Family Homes" has been in effect nationwide in Germany. It primarily stipulates that the commission is split 50% between the buyer and seller if the real estate agent has acted for both parties in the transaction. However, if either only the buyer or only the seller has given the search or marketing mandate, the commission is borne solely by the party who commissioned the agent. If the buyer signs an assumption agreement in such a case, their share is also capped at 50% of the total commission.

This regulation is intended to lower the ancillary purchase costs for houses and apartments in Hamburg Altona and other property locations in Germany, thereby making property ownership more accessible. At the same time, it ensures fair cost distribution so that sellers still gain significant value by hiring a real estate agent. The team at Engel & Völkers Hamburg is happy to advise you on your options.

When is the broker commission due for a property sale in Hamburg?

Engel & Völkers Hamburg charges the broker commission only after a successful marketing process. Typically, we collect the outstanding amount once the purchase contract has been notarized and the payment of the purchase price becomes due. This means that no additional costs will incur for you unless we market your house or apartment in Hamburg Altona under conditions acceptable to you.

You can benefit from our attractive services such as the free market value assessment, expert advice, and our broad-reach online portfolio without any risk—even in the unlikely event that we are unable to find a buyer for your property within a reasonable timeframe.

What costs are incurred by hiring a real estate agent in Altona and the surrounding area?

The commission rate for real estate agents in Germany is not uniformly regulated and can vary depending on the location and provider. Typically, the costs range from 3% to 7% of the agreed purchase price for the marketed property. For example, if an apartment in Hamburg Altona is sold at a commission rate of 5% for 200,000 euros, both the buyer and the seller would each bear 2.5% of the commission, amounting to 5,000 euros each. Engel & Völkers Hamburg's experience shows that, in the vast majority of cases, a more lucrative sales outcome can still be achieved than when selling independently. This is because the investment in a real estate agent quickly pays off through their detailed market knowledge, sound pricing, and skilled negotiation.

Are you currently considering selling your apartment or house in Hamburg Altona and looking for a real estate agent who knows how to utilize your property's full potential? Let Engel & Völkers Hamburg present their offer to you in a free and non-binding initial consultation! We look forward to successfully bringing your plans to fruition together with you soon.

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Engel & Völkers Germany

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20457 Hamburg, Germany

Tel: +49 40 361310