The Average New Mexico Real Estate Commission

Bailey Peterson

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Bailey Peterson

September 1st, 2022
Updated September 1st, 2022

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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 $297,808 — the median home value in New Mexico — you’ll pay about $16,647 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% listing fees with full-service New Mexico realtors from top brokerages.

On that same $297,808 home — you'd pay just $11,400, up to 31% less than paying average rates.

» SAVE: Sell with Clever for 1% 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% (or $3,000 if your home sells for less than $350,000), keeping more money in your pocket at the end of your sale.

💰 Get a lower rate with a top New Mexico agent!

Want to find a top local agent in New Mexico without overpaying on realtor fees? Clever negotiates 1% listing fees with top-rated New Mexico real estate agents from trusted brokerages like Keller Williams, RE/MAX, and Berkshire Hathaway.

Get guaranteed full service for a fraction of the 2.76% rate New Mexico agents typically charge. Schedule a free, no obligation consultation with a top local agent today!

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
  • You're selling a high-value home
  • You have a personal relationship with a realtor
  • You can offer a realtor repeat business
The New Mexico housing market
  • Homes are selling quickly
  • There are relatively few homes listed for sale
  • Home values are rising

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 1.6 months of housing inventory on the market
Seller's market
Sale-to-list ratio
Homes are selling for 99.14% of their listing price
Seller's market
Home values
Home values have risen 38.52% 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

Clever Real Estate

Learn More

💲 Listing Fee

$3,000 or 1%

💰 Avg. Savings

$7,375

⭐ Avg. Customer Rating

4.9/5 (1,810 reviews)

✍️ Editor's Take
Pros
Cons
Reviews
Locations

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.


Try Clever for free — save thousands on commission

  • 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 44,805, Clever has a 4.9 out of 5 rating on Trustpilot, based on 1,710 reviews.


Read reviews from real Clever customers here.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

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💲 Listing Fee

1.5% (min. fees vary)

💰 Avg. Savings

$5,550

⭐ Avg. Customer Rating

3.8/5 (425 reviews)

✍️ Editor's Take
Pros
Cons
Reviews
Locations

Redfin offers real savings and a proven brand. But sellers could compromise on service — especially agent experience and availability.


Read the full Redfin review.

  • 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 3.8 out of 5 rating (425 reviews) across popular review sites like Google and Yelp.


Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

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» 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 Services

Affordable Realty Services

Price Range

$395-1,095

Number of Photos

15-50

Listing Term

12 months

Description
Pricing
Pros & Cons
Reviews
  • 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
  • 12-month listing on the MLS
  • 15 photos
  • Listing syndicated on Realtor.com, Zillow, Trulia, and more
  • Open house postings on the MLS
  • Professional CMA
$535 - Value FSBO package
  • Same as Basic FSBO package, plus:
  • Use of realtor lockbox
  • Virtual home tour
$945 - Basic Full Service package
  • Same as Value FSBO package, plus:
  • For sale sign
  • Broker assistance in negotiating offers and repairs
  • Broker monitors transaction, reviews documents, and attends closing
  • Does not include virtual home tour
$995 - Value Full Service package
  • Same as Basic Full Service package, plus:
  • 50 photos
  • Automatic showing feedback from realtors
  • Property flyer emailed to approx. 2,500 local real estate brokers
  • Does not include virtual home tour
$1,095 - Premier Full Service package
  • Same as Value Full Service package, plus:
  • Home advertised on Craigslist
  • Home advertised on Facebook
  • Complete property website with flyers, school info, virtual tour, and more


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

As of July 30, 2020, Affordable Realty Services has an average rating of 3.5/5 based on 20 reviews across Google and Yelp.

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Congress Realty

Congress Realty

Congress Realty

Price Range

$299

Number of Photos

Listing Term

6 months

Description
Pricing
Pros & Cons
Reviews
  • 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

As of August 4, 2020, Congress Realty has an average rating of 4.8/5 based on 30 reviews across Yelp and Zillow.

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For Sale by Owner New Mexico

For Sale by Owner New Mexico

For Sale By Owner New Mexico

Price Range

$395-995

Number of Photos

30-99

Listing Term

12 months

Description
Pricing
Pros & Cons
Reviews
  • 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
  • 12-month listing on the MLS
  • 30 photos
  • Yard sign to rent
  • Real estate forms (downloads)
  • Listing syndicated on Realtor.com, Zillow, and more
  • Open house postings
$995 - Give Me The Works! package
  • Same as the I’d Like Professional Guidance package, plus:
  • 99 photos
  • Electronic document signing
  • Net sheet
$795 - I’d Like Professional Guidance package
  • Same as the I’ve Done This Before package, plus:
  • Broker guidance
  • 50 photos
  • Professional CMA
  • Printable property flyer
  • Lockbox
  • Online appointment service
  • Email and phone support though transaction


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.

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Hardy & Co. Real Estate

Hardy & Co. Real Estate

Hardy and Company, LLC

Price Range

$395-695+

Number of Photos

Unlimited

Listing Term

12 months

Description
Pricing
Pros & Cons
Reviews
  • 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
  • 12-month listing on the MLS
  • Max photos on MLS (up to 99 on the Santa Fe MLS and Albuquerque MLS; up to 20 on the New Mexico MLS)
  • Listing syndicated to Realtor.com, Zillow, Trulia, and more
  • Broker assistance through sales process
  • Unlimited changes to listing
  • Buyer inquiries forwarded to you
  • Open house postings on MLS, Realtor.com, and Zillow
  • Yard sign with your contact info
  • Cancel of pause listing anytime for free

$395 + 1% - Listing + Contract & Closing Support package
  • Same as Flat Fee Listing package, plus:
  • Pay 1% of sale price at closing (minimum of $3,000)
  • Negotiate all offers, counteroffers, and contingencies for you
  • Handle all paperwork on approved Real Estate Association of New Mexico forms
  • Work with the title company, buyer’s lender and buyer’s broker to see you through the closing process
$695 + 1.5% - Full Service Listing package
  • Same as Listing + Contract & Closing Support package, plus:
  • Pay 1.5% of sale price at closing (minimum of $4,000)
  • Comparative market analysis (CMA)
  • Pricing guidance and advice
  • Professional photography
  • Professionally designed e-flyer
  • 50 hard copies of color flyer
  • Yard sign with Hardy & Co.’s contact info
  • Flyer box attached to sign























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

As of August 7, 2020, Hardy & Co. Real Estate and its broker, Stever Hardy, have an average rating of 5/5 based on 10 reviews across Google and Zillow.

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Houzeo

Houzeo

Houzeo

Price Range

$229-399

Number of Photos

6 to max allowed

Listing Term

3-6 months

Description
Pricing
Pros & Cons
Reviews
  • 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
  • 3-month listing on MLS
  • 6 Photos
  • Virtual tour
  • $25 for each listing change
  • Syndicated to Zillow, Trulia, Realtor.com, and more
$299 - Silver
  • Same as Bronze plan, plus:
  • 6-month listing on MLS
  • 24 Photos
  • 10 free listing changes
  • Select and communicate with Escrow Agent
$399 - Gold
  • Same as Silver plan, plus:
  • Max photos allowed by MLS
  • Federal and state disclosures forms














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.

SHOW MORE

» 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%, or $3,000, with some of New Mexico’s top real estate agents. Contact Clever today to find out how much you can save

👋 Next Steps: Find an agent!

Clever can connect you with top local listing agents who work for pre-negotiated low rates: just $3,000 for any home under $350,000, or 1% for more expensive homes.

You can interview your Clever agent matches, get free pricing estimates, and compare marketing plans — all with no strings attached.

Ready to learn more? Submit the form below for a free phone consultation with one of our Licensed Concierges.

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 August 2022
  • Sale prices and sale-to-list ratios: Based on Redfin data as of May 2022 (unless specified otherwise)
  • Months of inventory: Based on Realtor.com data as of August 2022

Additional resources for New Mexico home sellers

Better real estate agents at a better rate

Enter your zip code to see if Clever has a partner agent in your area.

If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. We offer this because we're confident you're going to love working with a Clever Partner Agent.