Why commission is worthwhile when selling with Engel & Völkers

What is the broker's commission?

For the successful mediation between buyer and seller, the real estate agent receives an expense allowance, which is usually referred to as broker's commission or broker's fee. The legal basis for the broker's commission is regulated in the BGB from Article 652 onwards.

What does the brokerage commission include when selling with Engel & Völkers?

For a real estate agent, the commission represents the remuneration for the services and advice provided to buyers and sellers of real estate. This includes things such as the initial consultation, the valuation of the property, gathering the necessary documents and organising and conducting viewings. Other tasks include advising on contractual issues and the final handover of the property. The field of work of an estate agent is therefore very extensive. The above-mentioned services are covered by the payment of the estate agent's commission when selling with Engel & Völkers.

Why should I hire an estate agent?

Property owners sometimes underestimate the amount of work involved in selling a house. Not only do all the relevant documents have to be obtained, but also the preparation of exposés, conducting viewings or the acquisition of solvent and serious interested parties require a lot of commitment and real estate knowledge. Especially when it comes to setting a realistic purchase price, the services of an estate agent are irreplaceable.

Experience shows that owners tend to set the price for their own property too high, which usually results in a longer marketing period. In turn, a long period of time spent on the property market often deters potential buyers. This is another reason why the commission for selling with Engel & Völkers is well invested at the end of the day.

Buyers also benefit from hiring a real estate agent. Finding the home that completely meets one's own needs and demands among thousands of properties on the market is an extremely difficult task without the help of a competent real estate agent. After all, it is not only the location and furnishings of the property that should be considered before buying, but also the development of the district in question, redevelopment possibilities, as well as building and tax obligations.

A competent real estate agent can answer these and other questions in advance.

Ordering party principle: Who pays the real estate agent?

A buzzword that often comes up in connection with the estate agent's commission is the buyer principle. This principle states that the party who placed the order with the real estate agent in question pays the agent's commission.

The buyer principle refers to the area of Lettingbut not to the sale of real estate. In this respect, the "Bestellerprinzip" is not applicable to the brokerage commission in the case of a sale with Engel & Völkers.

Since October 2019, a different regulation has been under discussion in the case of property sales, which provides for a statutory sharing obligation. This means that instead of the buyer principle, in future the buyer and the seller could each pay the estate agent half.