What does the term 'norm' imply in the context of rental commissions?

In the context of rental commissions, the term 'norm' refers to a suggested percentage that can be exceeded. This is important for understanding how rental commissions function within the real estate market. Typically, commissions are not rigidly fixed; rather, they are often presented as a standard guideline or average rate that agents might charge based on customary practices.

Real estate agents may use this norm to base their commission fees on, but they also have the flexibility to negotiate rates above or below this guideline depending on various factors, such as the complexity of the transaction, the needs of the client, or current market conditions. Therefore, understanding that a norm allows for deviation ensures that both landlords and tenants have room for negotiation and that agents can adjust their fees as needed to remain competitive and fair in the marketplace.