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Home and car insurance agents typically receive a 10 to 15 percent commission on the first yearâs premium. Commissions can range as low as 8 percent, says Bissett, while 15 [percent] would be on the very high end.. In contrast, life insurance agents make most of their money in the first year of a new policy.
A Variable Rate Commission clause included in your listing contract will reduce your total commission obligation in the event that a cooperating broker commission is not paid out. For instance, if your commission rate is 6%, it would be reasonable to reduce that commission to 4%, if the buyer is unrepresented. Personally, I would request a variable rate of 3% rate, although most agents wonât agree to go this low.