Realtor commissions in Arizona are typically around 5.4% of the home’s sale price. This is slightly higher than the national average of 5.32%.
Here’s how it usually works:
- Total Commission: This 5.4% is split between the listing agent (who represents the seller) and the buyer’s agent.
- Listing Agent’s Share: The listing agent typically receives around 2.78%.
- Buyer’s Agent’s Share: The buyer’s agent usually receives around 2.62%.
Important Notes:
- Negotiable: Commission rates are not set in stone. You can often negotiate a lower rate with your agent, especially if you have a high-value property or are using the same agent for both buying and selling.
- Variations: Commission rates can also vary depending on the location, the type of property, and the specific services offered by the agent.
- Alternatives: If you’re looking to save on commission fees, you might consider alternatives like flat-fee MLS listing services or selling your home yourself (For Sale By Owner). However, keep in mind that these options may require more work on your part.
Example:
If you sell a home in Arizona for $400,000, the total realtor commission would be approximately $21,600 (5.4% of $400,000). This would be split between the listing agent and the buyer’s agent.
It’s always a good idea to discuss commission rates with your agent upfront and make sure you understand how they are calculated.