Real Estate Agent Fees in Sofia

Commission Fees of Real Estate Agents in Sofia
This article has been created to explain the real estate agents commission in Sofia that is normally charged when buying or selling.
There are no fixed fees in Bulgaria and the real estate agents and developers can charge what they think is the market rate or what they can get away with.
No one likes to pay estate agents, but the reality is that the estate agents in Sofia need to cover their costs to market your property and get paid for their time if they are successful.
Note that some of the larger agencies in Sofia insist that the potential buyers submit a small deposit even before they submit your offer to the seller. The agents say that it stops time wasters, but we feel that this practice is totally out of place and will only accept a deposit when the offer has been submitted and accepted.
Note that it is possible that an agent is representing both the buyer and seller (or landlord and renter) and can be receiving double commission on the transaction.
Seller Property Sale Commission in Sofia
The ‘standard’ property sale commission in Sofia is 3% which is payable by the seller. However, this rate can vary from 0 to 5%.
If you buy directly from the builder you do not pay a commission to them as the commission is included in their selling price.
Higher fees can be charged when it will take a lot of work to sell the property, non-exclusivity (multiple agents marketing the property) or when the agent can charge a higher fee to an unsuspecting seller (normally a foreigner).
Our standard fee from the seller is 3%. This includes all real estate selling activities including valuation, photography, marketing, contract creation or notary fees and there are no hidden amounts on top.
We have a combination of marketing expertise, business networks, comprehensive databases and advertising investment funds for marketing campaigns to get buyers interested.
- Note that you should never pay for advertising.
- Only pay the pre-agreed commission upon successful sale. No sale. No Fee.
- The time taken for the sale is often dictated by the property having a realistic offer price.
Buyer Property Sale Commission in Sofia
The easiest way to get a clear idea of the total cost when buying a property in Sofia is to add 10% to the final purchase price to cover the taxes and fees that will come with the purchase.
The ‘standard’ real estate agent property purchase commission in Sofia is 3% which is payable by the buyer. However, this rate can be as much as 5%. It is vital to agree the commission rate with the real estate broker before you start looking at properties. You must never pay a fee to view a property.
If you do not have experience with the Bulgarian real estate market, we can recommend an excellent international law firm who will prepare the documents for the purchase.
If you need documents translated, then you will need the help of a local legitimate translator who are registered by the Bulgarian Ministry of Foreign affairs.
Other Buyer Fees
Notary Fees
You will also have to pay notary fees. It is best for the buyer to choose the notary that you want to work with. The team at Sofia Property Broker can advise you of a good notary.
Property Tax
One of the main taxes when buying a property in Bulgaria is the property tax which is also known as the local tax of around 3% and will depend on the exact value of the property purchase.
Property Registration Tax
The property purchaser must register the property within 2 months of the notary to make it public. There is a fee of 0.1% of the property price for the registration.
Real Estate Agents Commission in Sofia
Please contact us if you have any questions about real estate agents commission in Sofia