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EDUCATION REVIEW COMMITTEE REAL ESTATE COMMISSION Professional and Vocational Licensing Division Department of Commerce and Consumer Affairs State of Hawaii www.hawaii.gov/hirec MINUTES OF MEETING
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How to fill out real estate commission

01
Begin by gathering all necessary documents related to the real estate transaction, such as purchase agreement, property information, and commission agreement.
02
Verify the commission rate as agreed upon between the parties involved. This information is typically outlined in the commission agreement.
03
Calculate the commission amount by multiplying the commission rate by the total sale price of the property.
04
Fill out the real estate commission form with accurate and detailed information. Include the names of the parties involved, property details, commission rate, and commission amount.
05
Double-check all the information filled out on the form for any errors or missing details.
06
Sign and date the real estate commission form, ensuring that all relevant parties involved in the transaction have also signed.
07
Submit the completed real estate commission form to the appropriate party as specified in the commission agreement. This is often the broker or the real estate agent.
08
Keep a copy of the filled-out real estate commission form for your records.

Who needs real estate commission?

01
Real estate commission is needed by various parties involved in a real estate transaction.
02
Sellers: Sellers who are working with a real estate agent or broker to sell their property generally agree to pay a commission fee upon successful completion of the sale.
03
Buyers: In some cases, buyers might need to pay a portion of the real estate commission, especially if they have hired a buyer's agent to assist them in finding and purchasing a property.
04
Real estate agents and brokers: They rely on commission as a source of income for their services in helping clients buy or sell properties.
05
Brokerages and real estate companies: These organizations typically receive a percentage of the commission paid by their agents and brokers.
06
Overall, anyone involved in a real estate transaction where a real estate agent or broker is facilitating the process will likely encounter the need for real estate commission.
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Real estate commission is a fee paid to a real estate agent or broker for their services in helping buy or sell a property.
Real estate agents or brokers are required to file real estate commission.
Real estate commission can be filled out by providing details of the transaction, including the property information, buyer and seller details, and the commission amount.
The purpose of real estate commission is to compensate the agent or broker for their services in facilitating the real estate transaction.
Information such as property details, buyer and seller information, and the commission amount must be reported on real estate commission forms.
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