[BUYING & SELLING REAL ESTATE IN COLOMBIA] 79
does not establish an express form of distribution of the percentage to be paid 7. Brokerage: The real estate brokerage contract has as object to put potential buyers and sellers in contactto enter a sale and purchase transaction over real estate. Brokerage is a partially regulated activity in Colombia; however, a license is not required to operate as a real estate broker. Commission rates are freely agreed by the parties but generally the commission is equivalentto 3% of the sale price of the property when located in urban areas and 5% when located in rural ones. It is not necessary to have a real estate agent; it
is simply an additional activity. However, real estate agents serving under this kind of transactions may help to find the best property and to save time to complete it. *** This memorandum is for information purposes only and reflects the existing regulations as of July 2025. Under no circumstances can it be considered as either a legal opinion or advice on how to proceed in particular cases or on how to assess them. If you need any further information on the issues covered by this memorandum, please contact Mr. Daniel García Piñeros (dgarcia@gclegal.co) or Juan Ignacio Gamboa (jigamboa@gclegal.co)
ILN Real Estate Group – Buying and Selling Real Estate Series
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