Average Buyers Agent Commission, Portland 2022 Report
Buyers agent commission has been in the news a lot lately. The National Association of Realtors recently approved multiple MLS (multiple listing services) across the country to display publicly what commission the buyer’s agent would earn if they brought a buyer. This comes after the Department of Justice started and investigation into industry commission practices.
Redfin, a home search portal, and national Realty company also produced a recent report on buyers agents commission nationally (as much as they had access to), saying that buyers agents commissions have dropped to a new low nationally of 2.63%.
Buyers agent commission averages less than that in Portland, Oregon. For a number of years we have produced a buyers agent commission report based on RMLS numbers (our local MLS system).
This year’s 2022 buyers agent commission report for Portland is based on all residential detached (not condos, land, or commercial sales) sales closed in the first quarter of 2022. In that first quarter in the city of Portland, 1,980 residential detached homes sold. In the Portland real estate market, the buyers agent commission averaged less than 2.5%, with 2.5% being the most commonly commission rate offered (74% of the time) followed by 2.25% (21% of the time), followed by 2% (1% of the time).
|Buyers Agent Commission Rate Offered||Number of Sold Homes||% of Sales|
Tracking the Most Commonly Offered Commission Rates in Portland, Oregon
|Year||Rate 2.7%||Rate 2.5%||Rate 2.25%|
You can see from the chart above that buyer’s agent commission rates in Portland have been steadily dropping over the past few years. The 2.25% rate more than doubled in 2022 over 2021 and is the fastest growing new rate. The previously popular 2.7% rate has almost dropped out of existence, and the most commonly offered rate of 2.5% keeps dropping in popularity.
The National Commission Average to Sell a Home Broke Under 5% in 2021
The most likely reason for buyer’s agent commission rates dropping is the average commission a sellers agent earns has also been slowly dropping over time, down to 4.94% in our 2021 report.
Real Estate Commissions are Not Automatically Split 50/50 Between Buyers and Sellers Agents
It could be the case that a sellers agent splits the commission 50/50 with the buyer’s agent, but quite often, that simply isn’t true. The commission the sellers agent receives is typically different than what they’re offering the buyer’s agent.
Real Estate Commissions are Always Negotiable and There is No Set Standard
It is hard to say it simpler than that, but whenever you are engaging the services of a licensed real estate agent, know that the commission they earn is a negotiable part of the home buying or selling process.
We Charge 4% Max to Sell in Portland
Licensed since 2003, my small team is over 2,000 home sales in Portland and SW Washington. We’ve dropped our offered commission rate over time due to rising home prices and local affordability concerns. Not only do we charge less than the local and nationaaverage commission rate to sell a home, we provide pro. photos, 3D tours at no additional cost and pay more to market our homes online than our competitors. We provide full service, experienced representation. If you’re thinking of buying or selling a home in Oregon or Washington, call our main line at 503-714-1111 or chat with our bot on this site today!April 13, 2022