Realtor Fees in Maryland | Updated for 2023
Realtor fees in Maryland cost an average of 5%, which equates to a total commission fee of $20000 for a typical home in the state. This includes the fees for both the seller’s agent and buyer’s agent, with each realtor earning around half the total commission amount.
Below, we share what you need to know about the average realtor fees in Maryland. We break down who pays the realtor commission and how fees can change based on market conditions. With this knowledge, you can spot an unfair rate and avoid getting overcharged.
If you’re like many Maryland home sellers, you might think 5% is too much to pay a realtor. Luckily, you came to the right place and can to save on realtor fees in Maryland!
We Sell Harford Homes will only charge you 1.5% listing fees since you came to the right place 😉 – And as one of the top local realtors you’ll get guaranteed full service, but pay a fraction of what real estate agents typically charge.
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What is a fair realtor commission in Maryland?
A fair realtor commission in Maryland is whatever rate a typical seller with a home like yours would expect to pay in your local market. But what’s most important is that you and your agent agree on a rate you’re both comfortable with.
Most Maryland realtors expect a total commission rate of around the statewide average of 5%. (some even charge 7%) But you may be able to persuade your agent that a lower fee is fair if:
- Your home value is higher than average for the area
- You’re in a hot market where bidding wars are common
- Your home is in great condition
- Properties like yours are selling quickly in Maryland
- You’re also buying a house with the same agent
If you’re looking to save on realtor fees, it’s possible to find Maryland real estate agents with low commission rates. The top discount realtors offer reduced listing fees (as low as 1.5% in Maryland!), but still provide all the expertise and hands-on service you’d expect from an experienced local agent.
How much do realtor fees in Maryland cost?
Typically Listing agent fee is 2.5% and Buyer’s agent fee is 2.5% making it a total of 5% all of which normally the seller pays.
So if you sell a house for $400000 and pay Realtors fees of 5% you will end up paying $20000 in realtors commissions. And, of course, there are other expenses such us seller closing costs which vary (about 1-3%), or seller assistance credits, or repairs, etc.
What factors affect realtor fees in Maryland?
Average realtor fees in Maryland are affected by conditions in the local housing market. Key factors include home price trends, the number of active real estate listings, and how quickly houses are selling.
How many homes are for sale
| Annual trend | |
|---|---|
| Maryland | down 3.1% |
| United States | up 26.9% |
How quickly homes are selling
| Average days on market* | |
|---|---|
| Maryland | 38 days |
| United States | 43 days |
How are realtor fees split in Maryland?
Realtor fees in Maryland are typically split down the middle between the two real estate agents involved in the transaction — often 50/50.
Who pays realtor commission in Maryland?
The seller typically pays realtor commission in Maryland for both the seller’s agent and the buyer’s agent. The commission isn’t paid upfront or out of pocket. Instead, it comes out of the sale proceeds, and the seller pays only when the house is sold.
The seller covers the buyer’s agent fee so buyers don’t have to pay that fee upfront. Most buyers can’t afford to do that without a guarantee of purchasing a house. If buyers had to pay, sellers would have a much smaller pool of potential buyers.
Offering a competitive buyer’s agent fee also acts as a marketing tool for sellers. Since the fee is how buyer’s agents get paid, a competitive offer can incentivize those agents to show a seller’s property to their clients. This increases the pool of potential buyers and may even help the seller get a better price for their home.
How to save on realtor fees in Maryland
If you’re selling a house in Maryland and want to save on realtor fees, you have a few different options. Most sellers get the lowest rates (and best experience) by working with a full service realtor who charges lower rates, but you could also try to negotiate a lower realtor fee on your own or sell your house by owner.
Find an agent who charges lower rates
Most Maryland home sellers who want to save on realtor fees should work with a local real estate agent who offers full service for a lower rate.
If you are looking to save on realtor’s fees and still get a full service – our top local pick is We Sell Harford Homes, a full service low commission real estate agent service that honest, professional and reliable.
Choose the right strategy to list your home WITH A LOCAL REALTOR
By working with a real estate agent, you can select the best day to list your home based on buyer habits in your area. Choosing a realtor with extensive market knowledge and up-to-date research can help you select the best day to list your home and maximize your selling success. You don’t have to navigate all the critical decisions alone—an expert local real estate agent can guide you through the process and use marketing tools to craft a stand-out listing for your home.
We Sell Harford Homes is a top-rated real estate agent in Harford County, Maryland and surrounding areas experienced in any situation and property type. Whether you want to sell a condo, townhouse, single family house, or luxury property – we can assure you we will work hard to meet your real estate needs, and provide professional service. Whether you are going through a delicate situation as selling a house in a divorce, need to do a short sale or inherited a distressed house you want to sell, or just need to relocate quickly because of work- we can help you navigate the sale of your house and make it less stressful for you.
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