If you navigate to Washington housing market-whether you are a buyer or seller- understanding real estate commissions is an important aspect of your financial planning and negotiation strategies. In 2024, important changes Commissioning of structures was introduced throughout the country, making the fees charged for housing transparent to both parties. These adjustments are designed to ensure better informed decision making throughout the home buying and selling process.
This Redfin guide will help you understand Washington real estate commissions, what the latest changes mean for you, and how to take advantage of these costs.
The current state of the Washington real estate market
Before getting into the real estate commissions, let’s look at some key statistics on the current Washington real estate market:
| Median Home Sales Price | $644,100 |
| Provision of Housing | 28,335 (+19.1% YOY) |
| Homes Selling Above List Price | 28.8% (-5.1 pts YoY) |
Understanding real estate commissions in Washington
What are real estate commissions?
Housing commissions it is money paid to agents to facilitate the sale or purchase of a house. They are usually paid to close and is calculated as a percentage of the property’s sales price.
Who pays the commission?
Traditionally, merchants paid both agent’s commission and buyer’s agent fees. However, starting August 17, 2024, buyers in Washington must agree of their agent’s fee in writing before they start visiting homes.
While buyers can still ask the seller to cover their agent’s commission during the offer process, the amount sellers are willing to pay is now flexible and negotiable.
Washington real estate commission rates
In Washington, commission rates can vary depending on the details of the sale, the agents involved, and negotiations between the parties. While there are general expectations for commission rates, fees are not fixed and can be tailored to the needs of both the buyer and the seller.
Factors such as the location of the home, market conditions, and services provided by the agent can influence the final commission. Here’s a look at sample commission rates based on average home sales prices Major cities in Washington:
| The city | Median Home Sales Price | 1.5% Property Commission | 3% Real Estate Commission | 5% Real Estate Commission |
| Seattle | $845,000 | $12,675 | $25,350 | $42,250 |
| Spokane | $386,598 | $5,799 | $11,598 | $19,330 |
| Tacoma | $490,000 | $7,350 | $14,700 | $24,500 |
At Redfin, we work to ensure that you get as much value as possible, which it provides listing fees are 1% lower* for sellers. For buyers, our fees vary by location, but are always competitive to help you stand out in the market.
Can you negotiate real estate commissions in Washington?
Yes! Real estate commission rates in the US are not fixed, which means that buyers and sellers have the freedom to negotiate with their agents. Depending on the type of work, scope of services, and relationship with the agent, there may be fluctuations in fees.
When negotiating, you’ll want to consider the agent’s level of expertise, their sales techniques, and their familiarity with the local market. Sellers may be able to negotiate lower prices if their property is expected to sell quickly or is in a desirable location. Dual agency situations, where one agent represents both buyer and seller, may also lead to lower commissions since only one agent is involved.
Tips for a successful interview
- Compare different agents and their fee structures before making a choice.
- Discuss incentives, such as performance-based bonuses for a faster sale or a better final price.
- Use the desirability of your property to your advantage, as agents may accept lower fees for homes that sell more.
Washington housing commission FAQ
What are the changes to the real estate commission? Two major changes have changed the way commissions are handled: First, buyers must now sign an agreement with their agent regarding commission rates before visiting homes. Second, in many markets, a buyer’s agent’s compensation is no longer reflected in MLS listings. Read more about housing commission changes here.
How do the changes affect consumers in Washington? Buyers are required to agree to their agent’s commission in writing before starting a home tour. Apart from this, they can still ask the seller to cover their agent’s fees in the final application.
How do the changes affect Washington retailers? Sellers still have the opportunity to negotiate with their agent about the commission they are willing to give the buyer’s agent, if any. These terms are agreed upon during the bidding process.
How to find a real estate agent in Washington? When you’re ready to buy or sell, Redfin can help. Access to a A Redfin agent today to get started.
How can you avoid fees? Selling a home without an agent (known as FSBO or for sale by owner) is optional, but requires the seller to handle all aspects of the auction, including marketing, showings, and paperwork.
*Listing fees are subject to change, minimum applicable. Any buyer’s agent fees the seller chooses to cover are not included. The listing fee is increased by 1% of the purchase price if the buyer is not represented. Sell for 1% of listings only if you shop with Redfin within 365 days of closing your Redfin listing. We’ll charge a 1.5% listing fee, and send you a check for the 0.5% difference after you buy your next home with us. Read more here.
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