A real estate agent commission is a fee paid to a real estate agent for their services in helping to buy or sell a property. This commission is typically a percentage of the property's sale price, commonly ranging from 5% to 6%. It is usually split between the agent representing the seller and the agent representing the buyer. The commission is paid at the closing of the sale, meaning the seller usually covers this cost from the proceeds of the sale. Understanding this fee is important for both buyers and sellers, as it can impact the overall transaction and pricing strategy.