A
growing number of sellers are negotiating with their agents to lower commission fees, according to a recent survey from Zillow. The report found that more than half (51%) of sellers surveyed negotiated to lower their commission fees, with nearly two-thirds (64%) of non-negotiators citing that they thought the requested commission was fair.

    The survey also revealed that people are spending less time in their homes before selling, with an average tenure of 12 years in 2024, down from 17 years in 2020. Additionally, fewer sellers are buying a home at the same time as selling, with just 54% of sellers in the latest report also being buyers.

    Sellers who negotiated commission fees were more likely to have higher incomes and sell their homes for more. They also tended to be younger, with a median age of 40, compared to 48 for non-negotiators and 47 for all sellers. Negotiators were also more likely to contact multiple agents, with 55% shopping around compared to just 26% of non-negotiators.

    The ability to negotiate agent fees has been a hot topic in the real estate industry, with some arguing that many home sellers didn't know they could negotiate their commission fees. However, Zillow's report suggests that consumer awareness of agent pay may be increasing, leading to more frequent negotiation.

    Amanda Pendleton, Zillow's Home Trends Expert, noted that most sellers understand the value their agent provides and believe compensation for their services is appropriate. She suggested that agents should focus on showing their value early on and laying out all the services they provide to potential clients.