Average Minnesota Real Estate Agent Commission Rate
The average real estate commission rate in Minnesota is approximately 6% of the final sale price of a home. This fee is typically split down the middle between the listing and buyer’s agents who handle the transaction.
While the home seller is typically responsible for the full 6% fee, there may be room for negotiation in some circumstances.
If you’re selling a home in Minnesota and looking to save on realtor commission, Clever can help.
Clever partners with thousands of top-rated realtors across the country — including local Minnesota agents — from major brands like Keller Williams, RE/MAX, Coldwell Banker, and more.
Our Minnesota partners are all full-service agents who run traditional, full-commission businesses, but have agreed to offer significant discounts (over 60%) to sellers who connect with them through our referral program.
As of 2019, home sellers who listed with Clever saved an average of $9,000 per transaction.
Get in touch to learn more and interview low-commission agents in Minnesota.
Read on for a more in-depth explanation of Minnesota commission rates and how to save big on realtor fees without sacrificing service.
Selling a home is one of the biggest decisions most people make in their life, with a huge impact on both their finances and quality of life.
In Minnesota, home values have decreased by -7% since 2010.
A decline in home values like this places many homeowners under-water on their mortgage. These homeowners need to save wherever they can to minimize their losses when they sell.
If your home was priced at $300,000, the average commission would be around 6%, resulting in a typical commission of $15,780.
If you choose to list with Clever Real Estate, your expected commision will be either a flat fee of $3,000, or 1% if your home costs more than $350,000, plus the typical buyer’s agent fee. On a $300,000 home, this results in a commission of $3,000 plus $7,890 estimating 2.36% for the buyer’s agent. All told, that comes out to savings of $4,890.
If you choose to list with Clever, you will work with an agent from a major brand, or top rated local brokerage, that will still provide full service, while saving you thousands on commission. Your listing will include:
Does Low Commission Mean Low Service?
Before the rise of the internet, buying and selling homes was a very difficult process. Going to a real estate agent was the only way to find homes, or get insight to the value of your home.
The internet — and sites like Zillow and Trulia — have made it easy for anyone to learn about homes for sale in their area.
Over 80% of buyers find the home they want online, and then call their agent to ask for a showing. This is completely the opposite of how things used to work — and it makes the agent’s job more efficient than ever before.
Traditionally, a large portion of listing commission went to marketing, and technology has drastically reduced that cost. Real estate agents are now able to provide full service — with a professional marketing package — for less than ever before, and some agents are willing to pass those savings back to their sellers.
Agents are also using technology to allow them to handle more deals than ever before. Clever partners with agents that are able to handle a large volume of business while maintaining great service for their clients. This makes for happy sellers, and increases the chance that your listing agent will also be the agent that ultimately brings a buyer.
Sellers in Minnesota Are Saving Thousands With Clever
In Minnesota, the average cost of owning a home is $1,487 a month, and this doesn’t count any emergency maintenance or upgrades made to get a home ready for sale.
Homeowners in Minnesota are looking for ways to save when they sell a home, and Clever is the answer. We have Partner Agents throughout the state that specialize in different neighborhoods and price ranges.
If you’re nervous about listing with a discount real estate agent, Clever offers a free pricing consultation, so you can meet with a local agent, have them price your home, answer your questions, and explain how they will market your home for sale.
If you’re not 100% comfortable, you don’t have to move forward.
Why Do Minnesota Agents Use Clever?
You might be wondering “why would an agent that normally charges an average commission rate work with Clever and discount their commission?” It’s a great question, and the answer is simple.
Clever partners with experienced agents in the top 5% of their market, who are looking to break into the top 1%, and the recognition and awards that comes with it.
These agents understand that while they might not make as much on any individual client, Clever will send them enough co business to make a substantial impact on their business. They also know that if they provide great service, many of the sellers we send will buy a home with them as well.
If we don’t get great reviews from sellers about agents that we send business to, we won’t work with them. This ensures that we are able to connect you with a fantastic agent.
