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Consumers Can Save Thousands of Dollars in Commissions
Consumers who live in states permitting the option to choose innovative brokerage options, such as rebates or fee-for-service MLS-only packages, can potentially save thousands of dollars on commission payments.
This table shows that consumers can save more than $6200 in commissions on the sale of a median-priced home.
Table: Brokerage Options and Potential Savings on Home Sold for $184,334
| Option |
Seller’s Broker Commission
|
Buyer’s Broker Commission
|
Total Commission
|
Saving
|
Full-Service
(5.3% commission) |
$4,885
|
$4,885
|
$9,770
|
$0
|
| Buyer: Broker Rebates 1% |
$4,885
|
$3,042
|
$7,927
|
$1,843
|
| Seller: Fee-for-Service, MLS Only |
$500
|
$4,885
|
$5,385
|
$4,385
|
| Buyer and Seller Savings Combined |
$500
|
$3,687
|
$4,187
|
$6,228
|
The source of this information is provided by:
The Department of Justice
Competition and Real Estate Antitrust Division
To visit their website, Click Here
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