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Redfin Commission Formula:
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The Redfin Commission Calculator helps estimate the commission fee when selling a home through Redfin's real estate services. Unlike traditional brokers who typically charge 5-6%, Redfin offers a lower commission structure, usually around 1.5% of the sale price.
The calculator uses a simple formula:
Where:
Example: For a $500,000 home at 1.5% commission rate, the calculation would be: $500,000 × 0.015 = $7,500 commission.
Details: Traditional real estate commissions are typically 5-6% of the sale price, split between the buyer's and seller's agents. Redfin's model offers significant savings by charging a lower listing fee while still providing full service.
Tips: Enter your expected sale price and the Redfin commission rate (default is 1.5%). The calculator will instantly show your estimated commission. Remember that actual rates may vary based on location and specific services needed.
Q1: Is Redfin's commission always 1.5%?
A: While 1.5% is typical, rates may vary by location and services. Some areas might have slightly different rates.
Q2: Are there additional fees beyond the commission?
A: There may be additional fees for professional photography, staging, or other premium services, but these are optional.
Q3: How does Redfin's commission compare to traditional brokers?
A: Traditional brokers typically charge 2.5-3% for the listing agent alone (plus buyer's agent commission), while Redfin charges about half that.
Q4: Does the buyer's agent commission come from this?
A: No, the buyer's agent commission (typically 2.5-3%) is separate and would be in addition to Redfin's listing fee.
Q5: Can I negotiate the Redfin commission rate?
A: Redfin's rates are generally fixed, but you can discuss options with your local Redfin agent.