The fee paid to a property agent for arranging a sale or rental. There is no national rate; it is agreed with the agent.
How it works and what to check
Brokerage on a sale is usually a percentage of the price and on a rental often a part or multiple of one month's rent, but the custom differs by city. GST applies to a registered agent's fee.
Agents dealing in RERA-registered projects must register with the state RERA authority. Agree the fee, who pays it and when it is due in writing.
Common questions
How much brokerage is normal?
It differs by city and deal; agree the rate in writing before the agent starts.
Must a property agent be registered?
Agents selling in RERA-registered projects must register with the state RERA authority.