Average Real Estate Commission in Rhode Island: 2024 Data

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By Jon Stubbs Updated July 1, 2024

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How commission works | Commission calculator | Best ways to save | Methodology

📊 The data:


Our December 2023 survey of local agents found that the average real estate commission in Rhode Island is 5.50%, which is about equal to the national average of 5.49%. Calculate your estimated commission in Rhode Island.

The average total real estate agent commission rate in Rhode Island is 5.50% of the final sale price. Based on the latest median home sale price in Rhode Island ($465,459), that translates to a total cost of roughly $25,600.

Home sellers typically cover the total commission fee from their sale proceeds, which is split between the listing and buyer’s agents who handle the sale. In Rhode Island, the average listing agent fee is 3.00%, while the average buyer’s agent fee is 2.50%.

Real estate agent commissions make up a significant portion of the closing costs for Rhode Island home sellers. But you don't have to pay the full 5.50% to a traditional agent. If you're selling a home in Rhode Island, you can use a discount broker to save on realtor fees. In fact, depending on your situation and the agents you work with, you could save 36% on realtor fees, or about $9,309 on average.

Find top agents and save: Answer these five simple questions to get matched with the best local agents offering reduced commission rates. Compare agents from top brokerages like Keller Williams and RE/MAX, and get a discounted rate through Clever’s partner network.

How real estate commission works in Rhode Island

Average listing commission 3.00%
Average buyer's agent commission 2.50%
Total average commission 5.50%
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There are usually two real estate agents involved in the real estate transactions of 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 real estate commission paid in Rhode Island for listing agents is 3.00% of the final home price and 2.50% for buyer's agents, for a total of 5.50%.

» LEARN: How do real estate broker commissions work?

Real estate commission calculator for Rhode Island

Use this commission calculator to estimate how much you'll pay in realtor fees when you sell your home in Rhode Island. Enter an estimate of your home's sale price, and see how much you'll pay at different commission rates.

If you want to decrease your realtor fees, Clever can connect you with a top local listing agent who charges just 1.5%. This will allow you to retain more money from the sale for yourself.

» SAVE: Sell with Clever for 1.5% listing fees and save thousands in commission!

Who pays realtor fees in Rhode Island?

In Rhode Island, when you sell your home, the commission fees for the buyer's and seller's real estate agents come directly from the final sale price. There's no need to worry about paying these fees upfront.

The seller's agent justifies their commission through services such as conducting market analysis and managing the closing process. Meanwhile, the buyer's agent earns their commission by finding a qualified buyer who adheres to the contract terms and completes the purchase on schedule.

Rest assured, these commissions won't be an out-of-pocket expense for you. Similar to closing costs, the real estate agent commissions are subtracted from the proceeds of the sale once the transaction finalizes.

Why do sellers pay the buyer's real estate agent commission?

Covering the buyer's agent commission can significantly ramp up interest in your property. When you take on this cost, you position your home as a more enticing choice for buyers, who may otherwise find it challenging to pay their agent's commission on top of the down payment and closing costs. For a lot of buyers, these extra expenses can be a deal-breaker.

Set a competitive buyer's agent commission, and you'll notice that real estate agents are more motivated to steer clients your way. This approach often results in a greater number of bids for your home. Savvy industry professionals recommend pegging the buyer's agent commission around the local standard, which currently hovers at 2.50% in Rhode Island.

Will the NAR lawsuit change how real estate commission works?

On March 15, 2024, the National Association of Realtors agreed to pay $418 million in damages to settle a real estate commission lawsuit the industry group lost in November 2023. 

While the full impact of the settlement is yet to be determined, experts believe that the change will eventually lead to lower buyer's agent commissions and give buyers the ability to negotiate those commissions based on the services they need. 

The terms of the settlement are scheduled to take effect in mid-July 2024. But, the settlement hasn't been officially approved yet, and it could be delayed or changed by objections. We'll continue to monitor the status of the settlement and the effects it has on the real estate industry.

» READ MORE:

How to save on realtor fees in Rhode Island

Commission rates are not set in stone. In fact, we found that while 3.00% is the average listing commission in Rhode Island, rates typically fall between 3.00% and 3.00%. You can save money by negotiating a lower rate with your listing agent or by working with a discount real estate brokerage.

Listing commission range 3.00%– 3.00%
Buyer's agent commission 2.50%– 2.50%
Total commission range 5.50%– 5.50%
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» LEARN: What's the commission on a $1 million home?

Can I negotiate realtor commission in Rhode Island?

Real estate commission is always negotiable. Nationwide, the 630 agents we surveyed said these were their most common reasons for agreeing to lower their commission.

Would you lower your commission for…? Agents who answered yes
Homeowners who also plan to buy with you 72%
Homeowners who are repeat clients 70%
Homeowners with more than one property to sell 67%
Seller’s situation (e.g. divorce or death in the family) 48%
Higher property values 47%
High competition for clients 37%
Homes expected to sell quickly 37%
Periods of low housing inventory 23%
High buyer demand in the area 22%
Houses in excellent condition 19%
Highly experienced home sellers 13%
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Negotiating realtor fees in Rhode Island 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 Rhode Island housing market
  • Homes are selling quickly
  • There are relatively few homes listed for sale
  • Home values are rising
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Your specific situation will definitely have an impact, but the real estate dynamics in Rhode Island influence every home seller in the area.

In a seller's market, where sellers have the advantage over buyers, listing agents often find their jobs a bit easier and may be more open to reducing commissions. On the flip side, in a buyer's market, agents typically maintain their standard rates.

Not comfortable negotiating with a realtor? Avoid the awkward conversation and let Clever pre-negotiate a lower rate with a top agent for you.

To assess the current state of your local real estate market, look at these three factors:

  • Months of inventory
  • Sale to list price ratio 
  • Home value trends

If these signs point to Rhode Island being a seller's market right now, you might have the upper hand to negotiate a lower commission with your agent. But if the market is showing mixed signals or tilting in favor of buyers, it could be tougher to persuade your agent to accept a reduced rate.

The current state of the Rhode Island real estate market

Factor Trends Indication
Months of inventory There's 0.72 months of housing inventory on the market Seller's market
Sale-to-list ratio Homes are selling for 102.00% of their listing price Seller's market
Home values Home values have risen 16.15% year over year Seller's market
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» LEARN: See state-by-state average commission rates. How does your state compare?

Low commission real estate companies in Rhode Island 

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.

Discount real estate brokers 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.

Best for most sellers

Clever Real Estate

Learn more
4.9
Excellent

Listing Fee

1.5% ($3,000 min.)

Customer Rating

5.0 (2,627)

Availability

Nationwide

Overview

Pricing

Reviews

Contact

Overview: For homeowners in Rhode Island looking to cut down on traditional real estate commissions without sacrificing expert guidance, Clever is a great option.

✅ Benefits and features: Clever distinguishes itself by slashing standard realtor fees by up to half. It boasts a complimentary, commitment-free agent matching service that has garnered widespread praise.

🏠 How it works: Clever opens the door to a network of respected local agents from notable firms, including the likes of RE/MAX and Compass. This allows sellers to shop around for the right agent while ensuring access to a competitive 1.5% listing fee (on par with Redfin), no matter which agent they select.

Pros

  • Partner with a full-service agent from a prestigious brokerage at a fraction of the usual cost.
  • Agents are willing to work for up to half their standard rates exclusively through Clever.
  • Offers the widest selection of pre-screened agents in Rhode Island, maximizing your chances of finding the ideal fit.

Cons

  • There's no certainty of being paired with a particular agent or firm you may prefer within Clever’s network.
  • Extra offerings like professional home staging, aerial drone imagery, and immersive 3D tours might require additional fees, which agents will itemize during their listing pitch.

Fee structure

  • 1.5% listing fee ($3,000 minimum) at closing
  • 2–3% buyer’s agent commission at closing
Weighted avg. 5.0 2,627
Trustpilot 5.0 2,402
Google 4.8 225

Website: listwithclever.com
Phone: 1-833-225-3837
Hours: 8 a.m.–8 p.m. EST, 7 days a week
Address: 6358 Delmar Blvd, Suite 300, Saint Louis, MO 63130

Redfin Rhode Island

Learn more
4.9
Excellent

Listing Fee

1.5% ($4,000 min.)

Customer Rating

N/A*

Availability

Multi-state

Overview

Pricing

Reviews

Contact

Overview: For Rhode Island residents eager to save on agent commissions while still receiving dependable services, Redfin is a noteworthy option.

✅ Benefits and features: Redfin's competitive 1.5% listing fee offers a substantial opportunity for savings. Clients who utilize Redfin's services for both selling and buying within a single year can enjoy an additional 0.5% discount off the listing fee. The well-known Redfin brand provides access to a diverse array of discount real estate professionals.

🚩 Potential red flags: Redfin's model is distinctly tech-driven and team-based, which may not align with every seller's preferences. While a Lead Agent handles most interactions remotely, supported by a team, some sellers may prefer a more personalized, one-on-one relationship with their agent. It's important for sellers to be aware that Redfin has a minimum commission fee of $4,000 in Rhode Island. So if your home sells for more than $265,000, you'll end up paying more than 1.5% in commission.

Pros

  • Notable reduction in listing fees
  • Reputable brand with a robust selection of agents
  • Remote, team-based service model can be advantageous for certain sellers

Cons

  • Limited selection of agents compared to Clever

Fee structure

  • 1.5% listing fee at closing
  • 2–3% buyer’s agent commission at closing
  • 0.5% listing fee refund if you also buy with Redfin within 12 months

*Not enough available data at this time

Website: redfin.com
Phone: 1-844-759-7732
Hours: 8 a.m.–5 p.m. EST, 7 days a week
Address: 10 Dorrance St. Suite 700, Providence, RI 02903
Areas served: Cranston, East Greenwich, East Providence, Johnston, Lincoln, North Providence, North Smithfield, Pawtucket, Providence, Smithfield, South Kingstown, Warwick, Woonsocket, and more

» LEARN: How do discount real estate brokers offer lower fees?

Next steps

Thinking of selling your home but don't know where to start? Here are some next steps.

Start interviewing local agents

Set up some listing appointments, where an agent visits your home to discuss its estimated value, lay out their marketing strategy, and provide a quote for their fee.

Here's why it's smart to sit down with a few agents before signing with one:

It's completely free to meet with agents: There's no obligation or risk on your end. Just keep in mind that the agent is meeting with you to win your business, and will try to sell you on their service.

You can compare pricing and features: Shopping around helps you find the best fit for your specific needs – in terms of fees, experience, and services provided.

Learn more about your market from an expert: Realtors can provide local data, like how much nearby homes are selling for, how fast they sell, and other current market trends.

Learn about the home sales process: An agent can walk you through the sales process from start to finish, and provide tailored advice for marketing your property to home buyers.

To get started, check out our guide on the best ways to find real estate agents — or you can sign up for Clever’s free agent matching service below to connect with top realtors in your area right now (and save on commission).

Clever has pre-negotiated low commission rates of only 1.5%, with Rhode Island's top agents. Contact Clever today to find out how much you can save on commission!

👋 Next Steps: Find an agent!

Clever can connect you with top local agents sell your house for a pre-negotiated low rate: just a 1.5% listing fee when your home sells (half the typical rate!).

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

Ready to learn more? Click below to take our simple quiz and see your agent matches!

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. We also asked agents about when and why they're willing to negotiate real estate commissions. 

Additionally, we utilized the following data from Zillow and Realtor.com:

  • Home values, list prices, and sale prices: Based on Zillow data as of May 2024
  • Sale-to-list ratios: Based on Zillow data as of May 2024 (unless specified otherwise)
  • Months of inventory: Based on Realtor.com data as of May 2024

Additional resources for Rhode Island home sellers

Better real estate agents at a better rate

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