Following the settlement of the recent National Association of Realtors (NAR) lawsuit on commission rates, we surveyed local agents and found that the typical commission rate in Phoenix is 5.31%, compared with the Arizona average of 5.4% for Realtor fees and the national average of 5.32%.
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The 5.31% rate in Phoenix is broken down by the average listing agent fee of 2.73% and the average buyer’s agent fee of 2.58%.
Traditionally, home sellers covered the commissions for both their listing and buyer’s agents. However, with the NAR settlement now in effect, sellers are no longer required to pay the buyer’s agent commission.
In Arizona, the 5.4% rate is divided by the average listing agent fee of 2.78% and the average buyer’s agent fee of 2.62%.
The total commission on the median home in Arizona, valued at $431,492, would cost $23,301, with sellers’ agents earning $11,995 and buyers’ agents earning $11,305. For context, if you sell a home that costs $320,000, you’d typically pay around $17,280 in Realtor fees in Phoenix; $35,100 for a $650,000 home; and $58,320 for a $1,080,000 home.
Compared to last year, the average total commission in Arizona decreased from 5.44%.
For sellers looking to reduce their Phoenix fees, Clever offers connections to top local listing agents at pre-negotiated rates of 1.5%.
You can read the full report to learn more about commission rates in Phoenix.
