How commission works | Getting low rates | Low commission companies | Methodology
📊 The data: We polled local agents and found that the average real estate commission in North Carolina is 5.78%, which is higher than the national average of 5.45%. |
For a house sold for $217,575, this rate translates to $12,576 in real estate agent commission costs.
Realtor commission is usually the largest cost that home sellers face, but the upside is that it also represents the biggest potential for savings.
» MORE: Learn how Clever can help you save on commission.
Below, we cover everything you need to know commission costs in North Carolina and also give you tips for getting low rates.
How real estate agent commission works in North Carolina
There are two real estate agents involved in a typical home sale:
- The seller's agent (also called the listing agent), representing the home seller
- The buyer's agent, who represents the person buying the home
The seller's and buyer's agent get paid a percentage of the home's final price when the sale is finalized. This payment is called real estate agent commission, and is baked into the sale price of a home and split between the two agents.
» LEARN: More about how real estate commissions work.
Based on our research, the average commission split in North Carolina has 51.95% of the commission going to the listing agent and 48.05% going to the buyer's agent.
Who pays for real estate commissions?
Home sellers are responsible for paying the real estate commission of both the agent representing them, as well as the agent representing whoever buys their home.
However, since the realtor commission is baked into the sales price you could say that the home buyer is paying — at least in-part — through a higher sales price.
» MORE: Who pays realtor commission.
How to save on real estate commission in North Carolina
💰Best ways to save While there are a number of options for home sellers looking to save on commission, good options for most home sellers include:
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» MORE: Options for saving on realtor commission
If you’re ready to work with an agent in North Carolina, this might be a great time to try negotiating a lower commission.
Home values in the state have risen over 6% year-over-year. More importantly, most houses are on the market for around one month before selling.
These numbers all indicate that your realtor won’t have too much trouble finding a buyer for your home, so they are likely to be open to a slight reduction in their standard rate.
Below we cover how you can negotiate lower rates, and list some of our recommendations of low commission real estate companies that you should consider.
Tips for negotiating realtor commission in North Carolina
Successfully negotiating commission rates depends mainly on two factors: your situation and the housing market.
Factor | You may have an easier time negotiating low rates if... |
|---|---|
Your situation |
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The North Carolina housing market |
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» LEARN: How you can negotiate lower commission rates.
While the personal factors that affect your ability to negotiate commission rates are unique to you, the local real estate market conditions will affect all home sellers in North Carolina.
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 inclined to offer lower commission rates. The opposite is true in a buyer's market.
📖Definitions Months of inventory, is measured by dividing the homes listed for sale in the most recent month by the number of homes actually sold in that month. It is a key indicator of how much supply and demand there is for houses in a market. Sale-to-list is calculated by dividing the median sale price by the median listing price in a given area. If homes in your area are generally selling for more than their listing price, that is a good indication that you are in a seller's market. Home values rising in your area indicate that demand is growing. Whereas if this figure is falling, then it's more likely that homes in your area are becoming less desirable. |
To judge the current state of the real estate market, you can look at three factors: months of inventory, sale to list price, and home value trends. Below, we've included a current breakdown of these factors in North Carolina.
Stats and facts: The current state of the North Carolina real estate market
Factor | Trends | Indication |
|---|---|---|
Months of inventory | There's 1 months of housing inventory on the market | Seller's market |
Sale-to-list price | Homes are selling for 99.10% of their listing price | Seller's market |
Home value | Home values have risen/fallen 6.48% year over year | Seller's market |
Low commission real estate companies in North Carolina
Home sellers looking to save money when selling their home should consider a low commission real estate company. To help you out, Clever has picked some of the top discount and flat-fee MLS services across the state:
Discount real estate brokers in North Carolina
Discount real estate brokers are companies that will list your home for a reduced commission percentage or flat rate. The catch is that the service might not be on-par with what you'd get from a top local agent.
Clever
Clever Real EstateListing Fee
1% (minimum $3,000)
Clever Cash Back
0.5% on homes over $150,000
Avg. Customer Rating
4.8/5 (386 reviews)
- Clever Real Estate is a nationwide, online concierge and agent matching service for sellers and buyers — learn more
- Buyers and sellers are matched with multiple highly rated agents from major brands, such as Keller Williams, Century 21, Compass, RE/MAX, and more
- Sellers choose a full-service agent and pay a flat, $3,000 fee — or just 1% for homes more than $350,000
- Buyers may be eligible for 0.5% back after closing (in qualifying locations)
Clever has pre-negotiated lower commission rates with top agents in all 50 states, D.C., and Puerto Rico
Pros
| Cons
|
As of May 20, 2020, Clever's average customer rating is 4.8/5 based on 386 reviews on Trustpilot.
- Trustpilot: 4.8/5 (379 reviews)
- BBB: An A rating
Redefy
Redefy Real EstateListing Fee
$3,500
Buyer Rebate
N/A
Avg. Customer Rating
4.3/5 (115 reviews)
- Redefy is a multi-state real estate franchise that offers flat-fee listing services for home sellers and standard services for home buyers
- Redefy is currently available in select cities in Colorado, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee, Texas, and Virginia
- When you sell with Redefy, you'll pay a nonrefundable $500 fee up front, then $3,000 at closing, for a total fee of $3,500.
- You should also expect to pay a buyer's agent commission. Rates vary, but 2.5-3% is typical nationwide
- When you buy with Redefy, you'll get full service and support, but unlike some other discount services, Redefy doesn't offer built-in savings or rebates
- Note: Each Redefy office is an individual franchisee, so experiences may vary considerably by location. Look up reviews specific to your local office for an accurate gauge of customers' experiences
| Atlanta, GA | Jacksonville, FL |
| Augusta, GA | Knoxville, TN |
| Austin, TX | Memphis, TN |
| Charleston, SC | Miami, FL |
| Charlotte, NC | Nashville, TN |
| Chattanooga, TN | Norfolk, VA |
| Chesapeake, VA | Northern Colorado |
| Chicago, IL | Orlando, FL |
| Colorado Springs, CO | Raleigh, NC |
| Columbia, SC | Richmond, VA |
| Dallas, TX | Rock Hill, SC |
| Denver, CO | San Antonio, TX |
| Fort Mill, SC | Tampa, FL |
| Greenville, NC | Virginia Beach, VA |
| Houston, TX |
Pros
| Cons
|
*Homes valued over $1 million may pay a 1% listing fee — check with your local Redefy office.
As of May 20, 2020, Redefy's third-party reviews for its main Denver office average a 4.3/5 rating across Yelp, Google, and Facebook. See the breakdown below.
- Yelp*: 4.5/5 (30 reviews)
- Google*: 4.5/5 (59 reviews)
- Facebook: 3.8/5 (26 reviews)
- Better Business Bureau*: A+
*These reviews are for Redefy's main Aurora, CO office. Reviews vary considerably by location. We recommend conducting your own research for customer reviews specific to your area.
REX Real Estate
REX Real EstateListing Fee
2% ($9,000 min.)
Buyer Rebate
Up to 1-1.5%
Avg. Customer Rating
4.6/5 (536 reviews)
- Sellers get full service (minus MLS access) for a 2% listing fee — $9,000 minimum fee for homes below $450,000
- REX does not post listings on the MLS. Instead, it uses digital advertising to target unrepresented buyers and help you avoid paying a buyer’s agent commission (typically 2-3%)
- This may significantly reduce your pool of prospective buyers (roughly 87% of buyers work with agents), making it harder to attract offers
- Represented buyers must cover their agent's fee themselves, which could hinder their ability or desire to purchase your home
- If you buy a non-REX home with a REX agent, you may qualify for a 1-1.5% commission rebate. If you buy a REX-listed home, you are not eligible for a rebate
| Arizona | California | Colorado |
| New Jersey | New York | Florida |
| North Carolina | Georgia | Pennsylvania |
| Oregon | Illinois | Texas |
| Maryland | Vermont | Massachusetts |
| Virginia | Nevada | Washington, D.C. |
Pros
| Cons
|
As of May 20, 2020, REX Real Estate’s average customer rating is 4.6/5 based on 536 reviews across Zillow, Facebook, and Google. See the breakdown below.
>> VIEW REX’s Better Business Bureau profile here.
*These reviews are for REX's main California office. Reviews may vary by location. We recommend conducting your own research for customer reviews specific to your area.
» MORE: About discount real estate brokers.
Flat-fee MLS listing services North Carolina
Flat-fee MLS listing services offer to post your home on your local MLS for a low rate 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, this might not be a good option for you.
Carolina Listing Express
Carolina Listing Express.comPrice Range
$195
Number of Photos
Listing Term
6 months
- Carolina Listing Express.com is a flat-fee MLS service operated by Select Premium Properties, a licensed real estate brokerage in North Carolina, South Carolina, Georgia, Virginia, Maryland, Washington DC and Pennsylvania.
- Listings typically go live in a business day
- Free listing changes within the first 24 hours ($20 per change after that)
- $45 fee to cancel contract early
- You choose the buyer’s agent commission
- Buyer and agent inquiries forwarded to you via email
$195
- 6-month listing on MLS
- Syndicated to Realtor.com, Zillow, Trulia, and more
- 5 Photos
- Contracts and forms (downloadable)
- Color brochure
- ShowingTime scheduling and feedback system
Additional a-la-carte services include: For Sale sign, lockbox, additional photos, open house announcements, and more
Pros
- Offers money-back guarantee if you decide to list with a full-service agent referred by Georgia Listing Express.com
- Buyer inquiries forwarded directly to you
Cons
- Only one option
- $175 processing fee when home closes and $45 cancelation fee
As of August 3, 2020, Select Premium Properties has an A+ rating on the Better Business Bureau.
Charlotte Home Zone
Charlotte Home ZonePrice Range
$250
Number of Photos
48
Listing Term
6 months
- Charlotte Home Zone is a flat-fee MLS service operated by Realty Dynamics, a licensed real estate brokerage in North Carolina
- Comparative market analysis (CMA) included
- Choose a buyer’s agent commission between 2.5% and 3%
$250
- 6 -month listing on MLS (free extension up to a year)
- Syndicated to Realtor.com, Zillow, Trulia, and more
- Up to 48 photos
- Supra iBox lockbox rental
- ShowingTime scheduling and feedback system
- Virtual tour
- Printable flyer
- For Sale sign
- Neighborhood market report
Charlotte Home Zone also offers a full-service package for a 1% listing commission or for free if you buy your home with them. See website for details
Pros
- Work directly with the broker, not a referral service
- Free contract extension up to 1 year
Cons
- Only one flat-fee MLS package to choose from
As of August 3, 2020, Charlotte Home Zone has an average rating of 5/5 based on 35 reviews on Google. Charlotte Home Zone’s broker has an average 5/5 rating based on 22 reviews on Zillow.
» MORE: About flat-fee MLS services.
Methodology
Data on commission rates is based on a survey of 554 of our partner agents, in which we asked them to indicate the 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 September, 2020
- Sale prices and sale-to-list ratios: Based on Redfin data as of September, 2020 (unless specified otherwise)
- Months of inventory: Based on Realtor.com data as of September, 2020