When the National Association of Realtors agreed last year to change its commission rules , some industry observers predicted a doomsday scenario . The trade group's landmark settlement over allegations from homebuyers set off forecasts that buyer agent commissions could be slashed in half.
But the reality under the news rules is coming into focus, and brokers in different price ranges are facing different changes.
That's according to an analysis from listings platform and brokerage Redfin , which looked at its buyer agent commission rates for closed home sales across the country following NAR's rule changes enacted in August.
Agents representing buyers of $1 million-plus homes across the U.S. have seen their average commission rate soften.
In the first quarter, the average buyer's agent commission on $1 million-plus properties was 2.17 percent – flat from the quarter before but down from 2.22 percent from the third quarter of 2024, when NAR's rules went into effect.
Source: Found here
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