U
nderstanding real estate commissions is crucial when purchasing or selling a property in Kansas as it directly impacts your budgeting and negotiation strategy. In 2024, changes to commission structures across the U.S. have made these fees more transparent for both buyers and sellers. These updates aim to provide you with a clearer picture of how real estate costs are handled, helping you make smarter decisions throughout the process.
Current state of the Kansas housing market
Before delving into how real estate commissions work in Kansas, it's important to first understand the broader trends and conditions shaping the state's housing market.
Median Home Sale Price
$280,100
Housing Supply
9,306 (+8.1% YoY)
Homes Sold Above List Price
12.8% (-7.5 pts YoY)
Deciding between renting or buying your next home? Explore your options.
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Deciding between renting or buying your next home?
Compare the costs of renting vs buying and find a lender to secure your mortgage.
Average real estate commission rates in Kansas
In Kansas, commission rates can fluctuate depending on various factors such as the details of the transaction and the terms negotiated between the parties. Although commission rates tend to follow standard expectations, they are negotiable, allowing buyers and sellers to tailor fees to fit their budget and objectives.
Key elements like the home's location, market conditions, and the range of services provided by the agent can all impact the commission rate. This flexibility allows both parties to work out a fee structure that aligns with their needs. Below is a breakdown of typical commission rates based on median home prices in some of the major cities in Kansas.
City
Median Home Sale Price
1.5% Real Estate Commission
3% Real Estate Commission
5% Real Estate Commission
Wichita
$240,000
$3,600
$7,200
$12,000
Overland Park
$465,000
$6,975
$13,950
$23,250
Kansas City
$289,250
$4,339
$8,678
$14,462
At Redfin, we prioritize giving consumers outstanding value. To help with this, we offer sellers a listing fee starting as low as 1%. For buyers, our fees vary depending on location but remain competitive, aiming to make your offer stand out and boost your chances of success in the homebuying process.
Can you negotiate real estate commissions in Kansas?
Absolutely! There are no federal laws dictating commission rates in the U.S., which means agents are generally open to negotiating lower fees. This can depend on factors such as the type of transaction, the services required, and the nature of the relationship between agent and client.
When negotiating commission rates, consider factors like:
- The agent's level of service
- Their planned marketing strategies
- Their experience in the local market
Sellers may have more leverage to negotiate lower rates if their property is expected to sell quickly or is in high demand.
Tips for a successful negotiation:
- Evaluate and compare multiple agents and their commission structures before committing.
- Discuss potential performance-based incentives, such as offering a higher commission for a faster sale or a higher final sale price.
- If your property is located in a desirable area, use that to your advantage—agents may be more flexible with commission rates.
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Kansas real estate commission FAQs
What are the changes to real estate commission? Two major changes have impacted how commissions are handled: First, buyers must now agree to their agent's fees in writing before starting home tours. Second, in many markets, agent compensation is no longer displayed on MLS listings. Learn more about the real estate commission changes here.
How do the changes impact buyers in Kansas? Buyers now need to sign an agreement with their agent, outlining the commission rate before beginning to tour homes. However, you can still ask the seller to cover your agent's fees as part of the negotiation.
How do the changes impact sellers in Kansas? Sellers will continue to negotiate with their listing agent regarding the commission offered to the buyer's agent, if any. Any requests will be reviewed and terms adjusted accordingly during the negotiation process.
How do you find a real estate agent in Kansas? If you're ready to buy or sell a home, Redfin is here to guide you. Connect with a Redfin agent to get started today.
How can you avoid fees? Selling a home on your own in Kansas can help you avoid commission fees, but For Sale By Owner (FSBO) transactions require a lot of effort from the seller, such as managing marketing, showings, and paperwork.
*Listing fee subject to change, minimums apply. Any buyer's agent fee the seller chooses to cover not included. Listing fee increased by 1% of sale price if buyer is unrepresented. Sell for a 1% listing fee only if you also buy with Redfin within 365 days of closing on your Redfin listing. We will charge a 1.5% listing fee, then send you a check for the 0.5% difference after you buy your next home with us. Learn more here.
