📊 The data: We surveyed local agents and found that the average real estate commission in New Mexico is 6.21%, which is higher than the national average of 5.50%.
That means, to sell an average New Mexico house worth $253,400 you’ll pay about $15,700 in realtor fees.
Realtor commission is usually the largest cost you'll face when selling your home — but you don't have to pay the full 6.21%.
Selling with a discount real estate company like Clever could help you save thousands on commission. Clever negotiates 1% listing fees with full-service New Mexico realtors from top brokers.
On that same $253,400 home — you'd pay just $11,500, up to 27% less than paying average rates.
Below, we cover everything you need to know about New Mexico real estate commission fees and share tips on how to save more when you sell.
How real estate agent commission works in New Mexico
There are usually two real estate agents involved in a home sale:
- The seller's agent (also called the listing agent), who represents the home seller
- The buyer's agent, who represents the person buying the home
Both agents earn a percentage of the home's final price when the sale closes. This payment is called real estate agent commission, and it's baked into the sale price when you sell your home.
Based on our research, the average commission split in New Mexico has 46.0% of the commission going to the listing agent and 54.0% going to the buyer's agent.
» LEARN: How do real estate commissions work?
Who pays realtor fees in New Mexico?
In New Mexico, home sellers pay real estate commission fees out of the final sale proceeds for both agents involved in a deal.
However, since this commission is baked into the sales price, you could say that the home buyer is paying — at least in part — through a higher price.
» LEARN: Who pays realtor commission?
How to save on real estate commission in New Mexico
💰 Best ways to save on commission:
Keep reading to learn how you can negotiate cheaper rates or find low commission companies that negotiate lower realtor fees for you!
Tips for negotiating realtor commission in New Mexico
Whether you’re selling a cozy cottage in Taos, a chic condo in downtown Albuquerque, or a cabin in Santa Fe, you should always try to negotiate a lower commission rate — it could save you thousands of dollars!
Negotiating a lower realtor percentage in New Mexico depends on two main factors: your situation and the housing market.
You may have an easier time negotiating low rates if...
The New Mexico housing market
While your personal situation will obviously vary, New Mexico real estate market conditions will affect all home sellers in your area.
In general, in a seller's market — where home sellers have more leverage than buyers — a listing agent's job is easier and they may be more willing to lower their commission rates. The opposite is usually true in a buyer's market.
To judge the current state of your real estate market, look at these three factors:
- Months of inventory ⓘ
- Sale to list price ⓘ
- Home value trends ⓘ
If every factor points to New Mexico being a seller's market, then you may be in a good position to negotiate a lower commission rate with your agent. If market conditions are mixed or favor buyers, it may be more challenging to persuade your realtor to accept a cheaper fee.
The current state of the New Mexico real estate market
Months of inventory
There's 1.1 months of housing inventory on the market
Homes are selling for 98.00% of their listing price
Home values have risen 17.6% year over year
Find a top realtor in New Mexico
Ready to negotiate with an agent in your area? We looked at the data and found the top New Mexico agents for you.
Low commission real estate companies in New Mexico
Negotiating a lower rate with a professional negotiator can be hard! In many cases, home sellers can save just as much (or more!) by selling with a low commission real estate company.
These are some of the top discount and flat-fee MLS services in New Mexico.
The top discount real estate companies in New Mexico
Discount real estate companies typically offer full-service support for a reduced commission percentage or flat rate. Like traditional agents, these agents are fully licensed and have met all of the requirements of the New Mexico real estate commission board. How they create those discounts will depend on the company's model, with some creating more risks and tradeoffs than others.
💲 Listing Fee
$3,000 or 1%
💰 Avg. Savings
⭐ Avg. Customer Rating
4.89/5 (1,208 reviews)
Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.
- Free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX
- Provides multiple agent matches so you can interview, compare marketing plans, and choose the best fit
- Pre-negotiates low rates on your behalf — you get full service for a flat $3,000 listing fee, or just 1% if the home sells for more than $350,000
- If you buy with Clever, you could get a check worth up to 0.5% of the home price
- You may not get matched with an agent from your preferred real estate brokerage.
- Agents may not provide premium services like drone photography and professional home staging.
As of October 7, 2021, Clever has a 4.9 out of 5 rating on Trustpilot, based on 1,203 reviews.
Clever has pre-negotiated low commission rates with top agents in all 50 states, Puerto Rico, and Washington, DC.
💲 Listing Fee
1.5% (min. fees vary)
💰 Avg. Savings
⭐ Avg. Customer Rating
3.9/5 (395 reviews)
Redfin offers real savings and a proven brand. But sellers could compromise on service — especially agent experience and availability.
- If you buy and sell with Redfin, you'll get a 0.5% listing fee discount
- Redfin gives its listings premium placement in its popular home search app
- If finding the right agent is a top priority, you'll have limited options — Redfin only has a few agents in each of its markets
- Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service
Redfin has a 3.9 out of 5 rating (395 reviews) across popular review sites like Google and Yelp.
Redfin is available in 80+ U.S. markets (see all locations).
The top flat-fee MLS listing services in New Mexico
Flat-fee MLS services list your home on your local MLS for a low fee, often around $100-300. The trade-off is that you'll have to handle almost the entire home-selling process yourself. If you're a real estate novice, or simply don't have the time to sell your home without a realtor, this might not be a good option.
New Mexico is called the Land of Enchantment for a reason. From booming cities like Albuquerque to cozy arts towns like Taos, New Mexico has tremendous appeal. More than a third of New Mexico’s land is protected by the federal government in the form of national parks, historic sites, military bases, or research installations. Because of this, the federal government is the top employer in the state.
Considering that the federal government is uniquely insulated from fluctuations in the larger economy, that means New Mexico’s state economy is on unusually solid footing.
That’s reflected in New Mexico’s home values as well, which have risen significantly over the past decade. That being said, they’re still on par with the national average, so there’s a lot of value here for buyers and investors as well.
If you’re interested in saving thousands on real estate commission when you sell, Clever has already pre-negotiated low listing rates of only 1%, or $3,000, with some of New Mexico’s top real estate agents. Contact Clever today to find out how much you can save
Our data on commission rates is based on a survey of 915 of our partner agents, in which we asked for typical rates for both buyer's and seller's agents in their area.
Additionally, we utilized the following data from Zillow and Realtor.com:
- Home values, list prices, and sale prices: Based on Zillow data as of August 2021
- Sale prices and sale-to-list ratios: Based on Redfin data as of April 2021 (unless specified otherwise)
- Months of inventory: Based on Realtor.com data as of September 2021