There’s a widespread perception that real estate agents tend to charge uniform rates, with the typical commission generally thought to hover between 5 percent and 6 percent, depending on the market. But a new study commissioned by Redfin suggests agents often charge less — much less, in fact — than what’s perceived to be the “standard market commission.”
- Agents frequently charge buyers and sellers less than what's perceived to be a 'standard commission,' according to a Redfin survey.
- The average discount off the standard commission is 41 percent, the survey found.
- Investment in high-tech brokerages, short for-sale housing supply and Redfin itself may be reasons for the 'widespread savings,' Redfin says.