Clever Real Estate Finds 42% of Home Sellers Don't Know They Are Expected to Pay the Buyer's Agent Commission in Light of Recent NAR Lawsuit

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Nov 20, 2023, 11:58 ET

Clever Real Estate has negotiated discounted rates for over 20,000 home sellers since 2017, positioning itself as a leading authority in the wake of recent headlines surrounding agent commission rates.

ST. LOUIS, Nov. 20, 2023 /PRNewswire/ -- Clever Real Estate, a fast-growing real estate technology company, has emerged as an unrivaled expert in commission rates following the recent landmark case involving the National Association of Realtors (NAR). Since 2017, Clever has negotiated real estate commissions with top-producing agents nationwide for over 20,000 home sellers and has conducted numerous surveys and studies over the years highlighting Americans' views on commission rates.

Should sellers be obligated to pay the buyer's agent's commission?

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In surveys of 1,000 Americans, Clever found that 66% of non-homeowners — and 42% of home sellers — don't know they are expected to pay the buyer's agent commission. This misunderstanding could be why 65% of Americans wrongly think buyers can save money by not working with an agent.

55% of sellers say they shouldn't be obligated to pay the buyer's agent's commission. However, fewer than half of sellers (46%) know how much they'll end up paying in commissions, and 34% actually overestimate the cost of commissions.

Almost all homeowners (91%) consider avoiding high realtor commission rates an important priority when selling, with 28% of sellers choosing to forgo an agent to save on fees. However, 72% of sellers who worked with an agent believe a good agent is worth every penny of their commission.

In a recent Clever survey of 625 agents across the country, the average total commission rate was 5.49%, and 61% of agents say their commission rates have not changed over the last 5 years.

"Clever has negotiated more commissions with realtors than any other person or organization in the U.S.," Clever Co-Founder and CEO Luke Babich said. "With recent headlines following the decision in the lawsuit against the NAR, Clever remains committed to helping buyers and sellers receive the best service with the lowest rates and continuing to position ourselves as a thought leader on the topic of commissions."

Amid the rapidly changing real estate landscape, Clever has saved customers more than $140 million on realtor fees, with an average 5.0-star rating based on 2,600+ verified customer reviews on Trustpilot.

As the industry continues to shift, Clever remains at the forefront, providing unparalleled expertise amid ongoing conversations about Realtor commission rates.

Read the full report at: https://listwithclever.com/research/realtor-commission-stats-2023

About Clever Real Estate
Clever Real Estate is on a mission to connect people with the most trustworthy advice and the best solutions for every step of their real estate journey. Clever's primary offering is a realtor matching platform that helps home sellers and buyers compare personalized realtor matches and save up to 50% of the typical fees. Clever's network spans 19,000 agents across all 50 states.

Please contact Kristen Herhold at [email protected] with any questions or to arrange an interview.

CONTACT:
Kristen Herhold
Clever Real Estate
[email protected]
720-341-9962

SOURCE Clever Real Estate