How commission works | Save on commission | New Mexico housing market | Best low commission companies | Methodology
📊 The data:
We surveyed local agents and found that the average real estate commission in New Mexico is 5.59%, which is higher than the national average of 5.37%.
To sell a house in New Mexico worth $272,195 — the median home value in New Mexico — you’ll pay about $15,216 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 5.59%.
Clever Real Estate could help you save thousands on commission by pre-negotiating 1.5% listing fees with full-service New Mexico realtors from top brokerages.
On that same $272,195 home — you'd pay just $10,700, up to 30% less than paying average rates.
» SAVE: Sell with Clever for 1.5% listing fees and save thousands in commission!
How real estate agent commission works
Average listing commission | 2.76% |
Average buyer's agent commission | 2.83% |
Total average commission | 5.59% |
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
Based on our research, the average commission rate for listing agents is 2.76% of the final home price and 2.83% for buyer's agents, for a total of 5.59%.
» 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. Offering to pay for the buyer's agent's commission is an incentive for agents to show your home to their clients.
If you'd like to save on commissions, Clever can connect you with a top listing agent in your area. You'll pay just 1.5% (or $3,000 if your home sells for less than $350,000), keeping more money in your pocket at the end of your sale.
How to save on realtor fees in New Mexico
Commission rates are not set in stone. In fact, we found that while 5.59% is the average in New Mexico, rates typically fall between 4.68% and 6.49%. You can save money by negotiating a lower rate with your listing agent or by working with brokerage that has a discounted commission model.
Listing commission range | 2.31%– 3.21% |
Buyer's agent commission | 2.37%– 3.28% |
Total commission range | 4.68%– 6.49% |
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.
Factor | You may have an easier time negotiating low rates if... |
|---|---|
Your situation |
|
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.
» LEARN: Find our top tips for negotiating lower commission fees
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
Factor | Trends | Indication |
|---|---|---|
Months of inventory | There's 1.9 months of housing inventory on the market | Seller's market |
Sale-to-list ratio | Homes are selling for 95.27% of their listing price | Buyer's market |
Home values | Home values have risen 36.26% year over year | Seller's market |
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. How they create those discounts will depend on the company's model, with some creating more risks and trade-offs than others.
Clever Real Estate
Get Started💲 Listing Fee
1.5% (min. $3,000)
💰 Avg. Savings
$5,625
⭐ Avg. Customer Rating
4.9/5 (1,995 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.
- Clever offers a free, nationwide agent-matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
- You get multiple agent matches so you can interview, compare marketing plans, and choose the best fit.
- Clever pre-negotiates low rates on your behalf — you get full service for a low 1.5% listing fee.
- If you buy with Clever, you could get cash back after closing.
- 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.
Clever has a 4.9 out of 5 rating on Trustpilot, based on 1,844 reviews.
Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.
Redfin
Full Review💲 Listing Fee
1.5% (min. fees vary)
💰 Avg. Savings
$5,550
⭐ Avg. Customer Rating
3.7/5 (301 reviews)
Redfin offers real savings and is 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 3.7 out of 5 rating (301 reviews) across popular review sites like Google and Yelp.
Redfin is available in 80+ U.S. markets (see all locations).
» LEARN: How do discount real estate brokers offer lower fees?
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 $300–$1,000. The trade-off is that you'll have to handle almost the entire home-selling process yourself.
Affordable Realty Services
Affordable Realty ServicesPrice Range
$395-1,095
Number of Photos
15-50
Listing Term
12 months
- Affordable Realty Services is a licensed, New Mexico real estate brokerage that specializes in flat-fee MLS listing services
- Built-in comparative market analysis (CMA)
- Open house postings on the MLS
- 5 MLS listing packages include both FSBO and full-service options
- Offers money-back guarantee if you decide to list with a full-service agent via referral instead
- Additional, a-la-carte services available, including social media and print advertising, lockbox and for sale sign rentals, professional paperwork preparation, and more — visit site for full list and details.
$395 - Basic FSBO package
| $995 - Value Full Service package
|
Pros
- Built-in CMA
- Open house postings on the MLS with basic package
- 12-month listing with basic package
Cons
- Downloadable contracts, disclosures, and other required paperwork not available
Congress Realty
Congress RealtyPrice Range
$299
Number of Photos
Listing Term
6 months
- Congress Realty is a licensed brokerage in Alaska, Arizona, California, Idaho, Louisiana, Montana, Nevada, New Mexico, Oregon, Texas, Utah, and Washington that specializes in flat-fee MLS listing services
- Free comparative market analysis (upon request)
- You set buyer’s commission (Congress Realty recommends 3%)
- Listings typically go live in 1 business day
- Free, unlimited changes
- Your phone number displayed on the MLS listing
$299
- 6-month listing on MLS
- Syndicated to Realtor.com, Zillow, Trulia, and more
- 4 photos
- Downloadable contracts, addendums, and disclosure forms
- ShowingTime showing scheduling and feedback service
A-la-carte services include: more photos, open house advertisements, listing renewals, professional photography, yard signs, lockbox, and more.
Pros
- Pay no buyer’s agent commission if you find the buyer
- Free, unlimited changes
- Wide variety of a-la-carte services
- Home buyer rebates if you buy with Congress Realty (in states where available)
Cons
- May not cover every part of your state
- Fewer photos than other comparable flat-fee MLS services
For Sale by Owner New Mexico
For Sale By Owner New MexicoPrice Range
$395-995
Number of Photos
30-99
Listing Term
12 months
- For Sale By Owner New Mexico is a licensed, New Mexico real estate brokerage that specializes in flat-fee MLS listing services
- Provides yard sign and necessary real estate forms (downloads)
- Open house postings on the MLS
- Recommendations for home inspectors, home stagers, mortgage companies, and more available on website
- Comparative market analysis (CMA) included with mid- and premium-tier packages
- Listing fee is refundable if you opt to list with a referred, full-service brokerage
$395 - I’ve Done This Before package
| $795 - I’d Like Professional Guidance package
|
Pros
- 30 photos and 12-month listing term with basic package
- Listing fee is refundable if you opt to list with a referred, full-service brokerage
- Lots of helpful services and support included with mid- and top-tier packages
Cons
- No built-in support with basic package
- No home valuation or CMA included with basic package
As of August 11, 2020, For Sale By Owner New Mexico has an average rating of 4.3/5 based on 7 reviews across Realtor.com and Yelp.
- Realtor.com: 5/5 for broker Lisa Hebenstreit (2 reviews)
- Yelp: 4/5 (4 reviews)
- BBB: A+
Hardy & Co. Real Estate
Hardy and Company, LLCPrice Range
$395-695+
Number of Photos
Unlimited
Listing Term
12 months
- Hardy & Company, LLC is a licensed, New Mexico real estate brokerage that specializes in flat-fee MLS listing services
- Listing is live within 24 hours of receiving photos and listing information
- Set your own buyer’s commission (Hardy & Co. recommends 2-3%)
- Broker assistance available through sales process
- Make unlimited changes to listing
- Cancel anytime for free
$395 - Flat Fee Listing package
$395 + 1% - Listing + Contract & Closing Support package
| $695 + 1.5% - Full Service Listing package
|
Pros
- Buyer inquiries are forwarded to you
- Broker assistance available through sales process
- Unlimited changes to listing
- Cancel anytime for free
Cons
- No built-in CMA or home valuation with first two packages
- Hardy & Co. doesn’t handle showings or open houses with Full-Service Listing package
Houzeo
HouzeoPrice Range
$229-399
Number of Photos
6 to max allowed
Listing Term
3-6 months
- Houzeo is a flat-fee MLS referral service that connects you with New Mexico brokers and agents who will list your home on your local MLS for a pre-negotiated rate
- Draft your listing, upload photos, set your price, and sign MLS contracts via Houzeo’s online dashboard
- Autofills listing details using publicly available info about your home to expedite the listing process
- Home valuation not included in service
- Does not require that you offer buyer’s agent commission
- Listing is typically live within 24 hours of submission
$229 - Bronze
| $399 - Gold
|
Pros
- Free cancellation anytime (no refunds)
- Freedom to specify any buyer’s agent commission
- Listings typically go live within 24 hours
Cons
- Limited coverage in rural areas
- “Free changes” only apply to listing’s price, status, and property description; $10 for additional changes
As of August 10, 2020, Houzeo has an average rating of 4.8/5 based on 21 reviews on Google.
» MORE: What you need to know about flat fee MLS services.
Learn more
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 1.5%, or $3,000, with some of New Mexico’s top real estate agents. Contact Clever today to find out how much you can save
Methodology
We gathered our commission rate data from a survey of 630 of our partner agents. The survey asked about standard local rates for both listing and buying agents.
Additionally, we utilized the following data from Zillow and Realtor.com:
- Home values, list prices, and sale prices: Based on Zillow data as of January 2023
- Sale prices and sale-to-list ratios: Based on Redfin data as of February 2023 (unless specified otherwise)
- Months of inventory: Based on Realtor.com data as of February 2023