U
nderstanding Real Estate Commissions in Nebraska
Real estate commissions are fees paid by homebuyers or sellers to their agents for facilitating the successful completion of a transaction. These fees are settled at closing and are typically a percentage of the property’s sale price.
Who pays the commission?
Traditionally, sellers have covered both their own agent’s commission and the buyer’s agent fees from the proceeds of the sale. However, starting August 17, 2024, new rules require buyers to agree to their agent’s fee in writing before touring homes. This means that the amount a seller might pay for a buyer’s agent can vary and is entirely negotiable.
Average Real Estate Commission Rates in Nebraska
In Nebraska, real estate commission rates can vary significantly based on the specifics of the transaction and the agreement between the parties involved. While there are standard expectations for commission rates, these fees are negotiable, allowing buyers and sellers to work with their agents to establish a structure that best meets their needs.
Factors such as the property’s location, current market conditions, and the services provided by the agent can all influence the final commission rate. This flexibility allows both parties to discuss and adjust fees to align with their budget and goals. Below is an overview of example commission rates based on median home prices in some of Nebraska’s largest cities:
City
Median Home Sale Price
1.5% Real Estate Commission
3% Real Estate Commission
5% Real Estate Commission
Omaha
$274,750
$4,121
$8,243
$13,738
Lincoln
$298,000
$4,470
$8,940
$14,900
Bellevue
$285,000
$4,275
$8,550
$14,250
Negotiating Real Estate Commissions in Nebraska
Yes! There are no federal laws in the U.S. that set commission rates, so agents are often open to negotiating lower rates based on the transaction type, required services, and the agent-client relationship.
Tips for Negotiating Real Estate Commissions
1. Compare multiple agents and their commission structures before making a decision.
2. Discuss performance-based incentives, such as offering a higher commission for a quicker sale or a better final price.
3. Leverage your property’s location if it’s in a sought-after area, as agents may be more willing to accept a lower commission.
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Nebraska Real Estate Commission FAQs
What are the changes to real estate commission? Two significant changes have impacted commission handling: buyers must now agree to their agent’s fees in writing before beginning home tours, and in many markets, buyer agent compensation can no longer be displayed on MLS listings. Learn more about the real estate commission changes here.
How do the changes impact buyers in Nebraska? Buyers must now sign an agreement with their agent regarding their commission rate before touring homes. However, you can still request that the seller cover your agent’s fee as part of your offer.
How do the changes impact sellers in Nebraska? Sellers will still discuss with their listing agent the compensation they wish to offer the buyer’s agent, if any. The seller will review requests and negotiate the terms of the offer accordingly.
How do you find a real estate agent in Nebraska? If you’re ready to start your home search or sell your house, Redfin is here to assist. Connect with a Redfin agent today.
How can you avoid fees? Selling a home without an agent in Nebraska can save on commission fees. However, for sale by owner (FSBO) transactions require significant effort from the seller, including 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.
