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Monday, October 16, 2023
Hawaii Highest Realtor Costs in USA
By Selected News Articles @ 5:04 PM :: 1969 Views :: Development, Hawaii Statistics, Cost of Living

Realtor Costs In America

from Self, October, 2023

Buying a home comes with a whole host of costs, from closing fees and down payments to initial mortgage payments and realtor fees; which form part of the final transaction for the home.

To understand just how much realtors fees are costing buyers on average, our study analyzed  home price data from FRED [1] and research on commission rates from Real Trends [2] and Clever [3] to reveal how much realtors are making per transaction in America.

In order to gain an insight into the average realtor fee by state the analysis then studied state-level house price data from Zillow [4] and commission rate information from Clever [5].

Key Findings

The average home purchase in 2023 costs $26,493 in realtor fees, with the buyers and sellers paying $13,246.50 each as commission to their respective realtor(s).

On average realtors successfully help buy or sell 10 homes per year [6].

Realtors made an average of $15,361.65 more per home sale in 2023 than in 2000, however the commission rate has dropped from 5.42% in 2000 to 5.13% in 2023.

Hawaii is the most expensive state for realtor fees with a transaction costing $44,576 to the buyer and seller.

Realtors in Ohio have the highest commission rate at 5.81%, averaging $12,006 per transaction, with Georgia having the second highest commission rate (5.76%).

read … Full Report

DM: Have you overpaid in realtor fees? Home buyers in Hawaii fork out FIVE times more in expenses than those in West Virginia - so how does your state compare?

WSJ: Real-Estate Commissions Could Be the Next Fee on the Chopping Block 

HB: No Local Changes Yet as National Lawsuits Rattle Real Estate Industry

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