According to a recent Redfin survey, 60% of home sellers received some type of discount on the commission paid to their real estate agent. Redfin staffer Rachel Musiker takes a look at the discounts, which were an average of 41% off of the average commission, and possible reasons behind these savings.
Musiker notes that the trend is surprising due to reports that agents' commission has increased in the past decade to 5.26% in 2015 from 5.02% in 2005. One of the possible reasons she sees for these savings is the low supply of homes:
The shrinking supply of homes for sale could be yet another reason for widespread savings for those homeowners who have taken the plunge and sold their homes. The number of homes for sale has shown year-over-year declines in each of the past nine months, which means that real estate agents are competing for a withering pool of business.