This is a topic of great interest and on which we have often tried to clarify. The Italian Supreme Court (Cassazione) recently intervened on this point, examining the fees of brokers in house sales and specifying that the amount is only due if the deal is concluded: accepting the purchase offer by itself is not enough!!!!
But let’s see better what has been clarified.
Real estate agency commission, when you pay
The Verdict n. 9612/23, issued on April 11st, 2023 by the Supreme Court says that – as established by article 1755 of the Civil Code – the Realtor has the right to commission from each of the parties, if the deal is concluded as a result of his intervention. The conclusion of the deal is therefore essential, as it is NOT enough for the promissory seller to accept the purchase offer from the promissory buyer.
But there’s more… according to the Consumer Code, “the clause that determines a significant imbalance for the consumer is void because it provides for the accrual of the right to commission at an earlier stage than the conclusion of the deal”.
How much should a Realtor charge?
Typically, Realtor’s commission to be paid by both the seller and the buyer ranges between 2% and 4% + VAT of the agreed purchase price of the property; it also includes the reimbursement of costs incurred by the agency for all the instrumental activities carried out up to the conclusion of the deal.
However, and also based on the peculiarity of the Case, these figures might change.
Basically, the entity of the commission remains negotiable between the Realtor and the Client.
When should the commission NOT be paid to the realtor?
If the real estate agent who took care of the sale transaction has not shown himself to be impartial or has omitted important and necessary communications/information for the successful result of the sale, it is possible to refuse to pay the commission. The commission to the real estate agency only for the visit to the property is not due.
Get in contact with us if you are thinking to buy home in Italy
Recent News & Events
Buying a property is an important step in everyone's life. The house is, in fact, a place that reflects our personality and our passions. As far as style is concerned, there are those who prefer the timeless charm of old houses and those who prefer the essential and clean lines [...]
Do you want to buy a home in Italy but do not know where to start? Whether your desire to purchase a property in Italy has been with you for as long as you can remember or is a recent urge, turning that dream into a reality can seem daunting. The [...]
Luxury properties in Milan always on the crest of the wave The Milanese residential real estate market is expected to close in 2022 with an estimated growth of over 27,000 total sales of used and new homes, equal to +1.5% on 2021. The prime real estate sector, i.e. luxury, located [...]
This is a topic of great interest and on which we have often tried to clarify. The Italian Supreme Court (Cassazione) recently intervened on this point, examining the fees of brokers in house sales and specifying that the amount is only due if the deal is concluded: accepting the purchase offer [...]
Share This Post, Choose Your Platform!
MORE NEWS
Investing In Italian Property For Retirement You’ve finally given in […]
The purchase of prestigious properties represents a safe and profitable […]
Short-term rentals are confirmed as a formidable weapon for making […]
