The average buyer’s agent commission was 2.42 percent for homes sold in the third quarter, up from 2.36 percent a year earlier, according to a report from Redfin.
Commissions were virtually flat from the second quarter (2.43 percent), leveling out after minor upticks in three consecutive quarters.
This is according to an analysis of Redfin’s data on buyer’s agent commissions for closed home sales. The analysis reflects national commission rates, using national, aggregated sales data from Redfin agents' listings and deals referred by Redfin.com to partner agents.
Commissions are now at roughly the same level they were in the first quarter of 2024, when the National Association of Realtors (NAR) first announced a settlement dictating new commission rules in response to a class action lawsuit brought by home sellers.
The third quarter marked the anniversary of new commission rules that went into effect in August 2024. The average buyer’s agent commission fell to a low of 2.36 percent that quarter (Q3 2024), but has nudged slightly higher since, as a slowdown in home sales gave buyers more negotiating power.
Beth Behling, a Redfin Premier real estate agent in Chicago, said commissions in her area were largely unchanged following the introduction of the new rules.
“If demand were high and homes were selling fast, I think we would see more sellers offering a lower commission to buyer’s agents,” Behling said. “But now the market is much slower, and buyers have negotiating power over sellers. If anything, buyers can ask for a higher commission for their agents knowing they may be the only offer on the table.”
Commissions were largely flat across all price tiers in the third quarter.
For homes that sold for less than $500,000, the average buyer’s agent commission remained unchanged at 2.52 percent from the prior quarter — up from 2.45 percent a year earlier and still the highest level since the third quarter of 2023.
For homes that sold for $500,000 to $999,999, the average buyer’s agent commission was 2.32 percent —down from 2.34 percent in the prior quarter and a tick above 2.31 percent a year earlier.
For homes that sold for $1 million or more in the first quarter, the average buyer’s agent commission was 2.22 percent —a tick higher than the previous quarter (2.21 percent), but down two basis points from 2.24 percent a year earlier.