Released: November 02, 2023

How real estate commissions work and why they might get lower

Source: Rachel Kurzius, Washington Post (Paid Registration)

In the United States, there’s generally an agent representing the seller and one representing the buyer. The seller pays the commission to both of them. Generally, commissions are 5 to 6 percent of the home-sale price. The buyer’s and seller’s agents split that money.

Industry watchers question the one-size-fits-all approach to commissions. Chandan believes that decoupling buyer and seller commissions could create more competition and variety in the market.

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