T
he real estate market in Maryland is currently experiencing growth, with a median home sale price of $436,100 and an increase of 10% in housing supply. However, there has been a decrease of 3.8 points in the percentage of homes sold above their listed price, indicating a more balanced market.

    Real estate commissions are fees paid to agents for their assistance in successfully completing a property transaction. These fees are typically a percentage of the home's sale price and are paid when the deal closes.

    In Maryland, commission rates for real estate transactions can vary greatly based on the specific circumstances of the deal and the agreements between the involved parties. While sellers have traditionally been responsible for covering both their own agent's commission as well as the buyer's agent's fees from the sale proceeds, starting August 17, 2024, buyers must now sign a written agreement outlining their agent's fee before they begin touring homes. This change means that the amount a seller may contribute toward a buyer's agent commission can vary and is fully negotiable.

    At Redfin, sellers can list their properties for as low as 1% of the sale price, providing exceptional value for customers. Buyers can also negotiate their agent's commission depending on their location, and their offer stands out more when they use Redfin's services.

    Real estate commissions are negotiable in Maryland, and there are no federal or state laws setting commission rates. Agents can be open to negotiating lower fees based on the type of transaction, level of service, and relationship between the client and agent. Sellers can negotiate lower commissions for properties that are highly desirable or expected to sell quickly.

    Tips for negotiating real estate commissions include shopping around for different agents and their commission offers, considering performance-based agreements, leveraging your property's appeal if it's located in a sought-after location, and more.

    In summary, understanding real estate commissions is crucial for both buyers and sellers when dealing with real estate fees in Maryland. The changes in commission practices can impact buyers and sellers differently, but both parties can negotiate and adjust fees according to their budget and goals.