Redfin Reports Commissions Have Risen Slightly For Affordable Homes, Fallen Slightly For Expensive Homes, Since NAR Settlement Took Effect
Redfin's Q4 2023 report shows buyer's agent commissions averaged 2.37%, virtually unchanged from Q3's 2.36% when new NAR rules took effect, but down from 2.45% year-over-year. The analysis reveals diverging trends across price segments: commissions for homes over $1 million decreased to 2.17% (from 2.33% YoY), while those for homes under $500,000 rose to 2.46% (from 2.42% in Q3).
A Redfin-commissioned survey of 500 real estate agents found that 48% report stable commissions since the NAR settlement, while 43% noted decreases. Notably, 54% of agents reported increased commission negotiations with clients. Looking ahead, 75% of agents express concern about declining commissions over the next five years, with 51% expecting decreases in the next 12 months.
Il rapporto Q4 2023 di Redfin mostra che le commissioni degli agenti dei compratori hanno avuto una media del 2,37%, praticamente invariata rispetto al 2,36% del Q3, quando sono entrate in vigore le nuove regole della NAR, ma in calo rispetto al 2,45% dell'anno precedente. L'analisi rivela tendenze divergenti tra i segmenti di prezzo: le commissioni per le case oltre 1 milione di dollari sono diminuite al 2,17% (rispetto al 2,33% dell'anno precedente), mentre quelle per le case sotto i 500.000 dollari sono aumentate al 2,46% (rispetto al 2,42% del Q3).
Un sondaggio commissionato da Redfin a 500 agenti immobiliari ha rivelato che il 48% segnala commissioni stabili dal risarcimento della NAR, mentre il 43% ha notato dei cali. È interessante notare che il 54% degli agenti ha riportato un aumento delle trattative sulle commissioni con i clienti. Guardando al futuro, il 75% degli agenti esprime preoccupazione per il calo delle commissioni nei prossimi cinque anni, con il 51% che si aspetta diminuzioni nei prossimi 12 mesi.
El informe de Redfin del Q4 2023 muestra que las comisiones de los agentes de compradores han promediado el 2.37%, prácticamente sin cambios respecto al 2.36% del Q3, cuando entraron en vigor las nuevas reglas de la NAR, pero ha disminuido desde el 2.45% en comparación con el año anterior. El análisis revela tendencias divergentes en los segmentos de precio: las comisiones para casas de más de 1 millón de dólares cayeron al 2.17% (desde el 2.33% en comparación con el año anterior), mientras que las de casas por debajo de 500,000 dólares aumentaron al 2.46% (desde el 2.42% en el Q3).
Una encuesta encargada por Redfin a 500 agentes inmobiliarios encontró que el 48% informa de comisiones estables desde el acuerdo de la NAR, mientras que el 43% mencionó disminuciones. Notablemente, el 54% de los agentes reportó un incremento en las negociaciones de comisiones con los clientes. Mirando hacia el futuro, el 75% de los agentes expresa preocupación por la disminución de las comisiones en los próximos cinco años, con el 51% esperando disminuciones en los próximos 12 meses.
레드핀의 2023년 4분기 보고서에 따르면, 구매자 에이전트 수수료는 평균 2.37%로, 새롭게 시행된 NAR 규정 이후인 3분기의 2.36%와 사실상 변동이 없지만, 전년 동기 대비 2.45%에서 감소했습니다. 분석 결과, 가격 세그먼트에 따라 상반되는 추세가 나타났습니다: 100만 달러 이상의 주택의 수수료는 2.17%로 감소했으며(전년 대비 2.33%), 50만 달러 이하 주택의 수수료는 2.46%로 증가했습니다(3분기에서 2.42%에서).
레드핀이 500명의 부동산 에이전트를 대상으로 실시한 설문조사에 따르면, 48%가 NAR 합의 이후 수수료가 안정적이라고 보고했으며, 43%는 감소했다고 언급했습니다. 특히, 54%의 에이전트가 고객과의 수수료 협상 증가를 보고했습니다. 앞으로 5년 동안 수수료 감소에 대한 우려를 표명한 에이전트는 75%이며, 12개월 내 감소를 예상하는 에이전트는 51%입니다.
Le rapport Q4 2023 de Redfin indique que les commissions des agents d'acheteurs ont atteint en moyenne 2,37 %, pratiquement inchangées par rapport à 2,36 % au Q3, lorsque les nouvelles règles de la NAR sont entrées en vigueur, mais en baisse par rapport à 2,45 % d'une année sur l'autre. L'analyse révèle des tendances divergentes selon les segments de prix : les commissions pour les maisons de plus de 1 million de dollars ont diminué à 2,17 % (contre 2,33 % à l'année précédente), tandis que celles pour les maisons en dessous de 500 000 dollars ont augmenté à 2,46 % (contre 2,42 % au Q3).
Une enquête commandée par Redfin auprès de 500 agents immobiliers a révélé que 48 % signalent des commissions stables depuis le règlement de la NAR, tandis que 43 % ont noté des diminutions. Il est à noter que 54 % des agents ont rapporté une augmentation des négociations de commissions avec les clients. En regardant vers l'avenir, 75 % des agents expriment des inquiétudes concernant la baisse des commissions au cours des cinq prochaines années, avec 51 % s'attendant à des baisses dans les 12 prochains mois.
Der Redfin-Bericht für Q4 2023 zeigt, dass die Provisionen für Käufermakler im Durchschnitt 2,37 % betrugen, was praktisch unverändert gegenüber Q3 mit 2,36 % ist, als die neuen NAR-Regeln in Kraft traten, aber im Vergleich zum Vorjahr von 2,45 % gesunken ist. Die Analyse zeigt divergierende Trends in verschiedenen Preissegmenten: Die Provisionen für Häuser über 1 Million US-Dollar sanken auf 2,17 % (von 2,33 % im Vorjahresvergleich), während die für Häuser unter 500.000 US-Dollar auf 2,46 % anstiegen (von 2,42 % im Q3).
Eine von Redfin in Auftrag gegebene Umfrage unter 500 Immobilienmaklern ergab, dass 48 % stabile Provisionen seit dem NAR-Vergleich berichten, während 43 % Rückgänge feststellten. Bemerkenswert ist, dass 54 % der Makler berichteten, dass die Verhandlungen über Provisionen mit Kunden zugenommen haben. In die Zukunft blickend äußern 75 % der Makler Bedenken hinsichtlich sinkender Provisionen in den nächsten fünf Jahren, wobei 51 % Rückgänge in den nächsten 12 Monaten erwarten.
- Commission rates remain stable overall at 2.37% despite regulatory changes
- Increased commission rates for affordable homes (under $500,000) to 2.46%
- Declining commission rates for luxury homes ($1M+) to 2.17% from 2.33% YoY
- Overall commission rates down from 2.45% year-over-year
- 75% of agents concerned about declining commissions in next 5 years
Insights
The Q4 2024 commission data reveals a nuanced market response to NAR's settlement, with implications extending beyond the headline figures. While the overall 2.37% average buyer's agent commission appears stable, the market is showing early signs of price-tier segmentation that could reshape industry dynamics.
The diverging trends between luxury and affordable segments are particularly telling. For homes
Several key developments warrant attention:
- Increased commission negotiations reported by
54% of agents, indicating enhanced market efficiency and transparency - The persistence of seller-paid buyer commissions, contrary to initial market expectations
- Growing price sensitivity in competitive markets, particularly for desirable properties with multiple offers
The survey revealing
The gradual nature of these changes suggests a market evolving towards greater efficiency rather than experiencing disruptive shock. This measured pace of change allows for market participants to adapt their business models while maintaining operational stability. However, the increased negotiation frequency could lead to more variable commission structures, potentially creating opportunities for innovative service models and pricing strategies.
Overall, buyer’s agents are earning an average of
The report is based on an analysis of Redfin’s data on buyer’s agent commissions for closed home sales. The commission data was sourced from national, aggregated information from sales of Redfin agents’ listings, deals referred by Redfin and closed by Redfin partner agents, or where a buyer used Redfin-owned Bay Equity Home Loans.
On a more granular level, overall commissions declined slightly the month the new rules went into effect. The average buyer’s agent commission in July was
The new commission rules stem from a legal settlement: In March, NAR agreed to settle a series of class-action lawsuits in part by creating new rules about the way commissions offered to buyer’s agents are communicated. Under the new rules, listing agents may no longer include a unilateral offer for sellers to pay the buyer’s agent commission in NAR-affiliated MLS’s. Redfin agents report that most sellers are still choosing to pay the buyer’s agent commission, though there are some exceptions.
Broadly speaking, agents tend to agree with the data showing commissions have declined only marginally. Roughly half (
Agents also report homebuyers and sellers are negotiating over commissions more; more than half (
“Buyers and sellers are still asking about commissions, and sellers are still navigating what the new rules mean for how much they should offer or agree to pay the buyer’s agent,” said Desiree Bourgeois, a Redfin Premier agent in the
Commission rates had started to fall gradually in the decade prior to the NAR settlement. But in dollar terms, buyer’s agents earn more money because home prices have risen significantly.
Commissions Are Falling For
When the commission data is broken down by price tier, a different trend emerges. Buyer’s agents are earning a slightly smaller commission percentage for luxury homes than before the NAR settlement, and a slightly bigger percentage for more affordable homes.
-
For homes that sold for
$1 million 2.17% . That’s down from2.22% in the third quarter, and down from2.33% a year earlier. -
For homes that sold for
$500,000 $999,999 2.26% , essentially flat from2.27% the prior quarter and down from2.36% a year earlier. -
For homes that sold for less than
$500,000 2.46% , up from2.42% the prior quarter but down from2.5% a year earlier.
Commissions are falling a bit for high-priced homes because agents have more room to reduce their fees and still earn a healthy paycheck.
“Luxury sellers typically expect buyers will want them to cover
Redfin agents are reporting more negotiation over buyer’s agent commission in competitive housing markets, and/or for a particularly desirable home. If a seller gets multiple offers, they may be more likely to negotiate about who pays the buyer’s agent, and how much.
Most real estate agents expect commissions will fall
Three quarters (
More than half (
To read the full report, including charts and methodology, please visit: https://www.redfin.com/news/agent-commissions-expensive-affordable-q4-2024/
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than
Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250204920585/en/
Contact Redfin
Redfin Journalist Services:
Erin Osgood
press@redfin.com
Source: Redfin
FAQ
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