commission

Definition

A fee charged by a broker or agent for his/her service in facilitating a transaction, such as the buying or selling of securities or real estate. In the case of securities trading, brokers can be split into two broad categories depending on the commissions they charge. Discount brokers charge relatively low commissions, but provide no services beyond executing trades. Full service brokers charge higher commissions, but provide research and investment advisory services.

Use commission in a sentence

The commission of the sale of the commercial property in the Downtown area made the real estate agent very happy.

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After I interviewed for a job and was hired, I found out that my main compensation was going to be commission based and not a standard salary.

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When our company sold some property the proceeds we received were much smaller than we expected because our real estate agent awarded himself a large commission.

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