The real estate commission you should pay is really determined by the local housing and real estate markets, the value of the home, and your own personal comfort level. At TRELORA, we think buyers and sellers should pay a flat-fee real estate commission between $3,000-$4,000. But right now, we only operate in Colorado and Washington, so we’re not an option for everyone.
With this in mind, the long-standing custom has been a 6% commission that is subsequently split between the buyer and seller agent, but the real estate commission you pay can be negotiated. Some real estate agents may offer commissions as low as 4%, but only on multi-million dollar properties. This total commission on the home sale is first negotiated between the seller and the seller’s agent, but buyers can also negotiate with their agents to receive a rebate if the buyer commission is above a certain percentage. These rebates can get quite large for buyers who work with TRELORA.
Our flat-fee commissions allow us to provide full-service real estate, while saving the average buyer or seller around $12,000 (in Denver) or $19,000 (in Seattle). We’re biased, but we also have the data and track record to prove it. We’ve saved homeowners $43 million in commissions. And that’s just in Denver and Seattle.