36% of homebuyers and sellers don’t know they can negotiate real estate agent fees. Here’s how to do it
Publishing timestamp: 2024-02-29 14:10:39
Summary
LendingTree report shows that many homebuyers and sellers successfully negotiate lower fees with their real estate agents, but a significant percentage are unaware that this is an option. The average commission rate in 2023 was 5.37%, with rates typically ranging from 5% to 6%. Technology has made it easier for some sellers to avoid these fees by selling their homes on their own. However, real estate agents provide valuable services and expertise that can help sellers get a better deal. Recent antitrust lawsuits against NAR and large real estate brokerages could potentially change the way agent commissions are paid in the future.
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Keywords: products and services, interest rates, mortgages, keller williams, housing, personal loans, real estate, personal finance, united states, lendingtree inc, business news,
Source: https://www.cnbc.com/2024/02/29/how-to-negotiate-real-estate-agent-commissions.html