Oregon Real Estate Commissions: What You Can Expect in 2024
When purchasing or selling a home in Oregon, it’s essential to grasp real estate commissions to properly plan your finances and negotiate effectively. New updates introduced in 2024 have reshaped how these commissions are communicated across the U.S., providing greater clarity to both buyers and sellers. These changes foster transparency, helping you make better-informed decisions regarding real estate fees.
Whether you’re new to the process or an experienced seller, this Redfin guide will help you navigate Oregon’s real estate commissions and understand what to expect in today’s housing market.
Current state of the Oregon housing market
Before diving into real estate commissions, it’s important to assess the current state of Oregon’s housing market:
Median Home Sale Price
$512,500
Housing Supply
19,025 (+12.1% YoY)
Homes Sold Above List Price
26.2% (-3.7 pts YoY)
Understanding real estate commissions in Oregon
What are real estate commissions?
Real estate commissions are payments made to agents for helping facilitate a successful real estate transaction. These fees are generally paid at closing and calculated as a percentage of the home’s sale price.
Who pays the commission?
Historically, sellers have paid the commission for both their agent and the buyer’s agent from the sale proceeds. However, as of August 17, 2024, buyers must now agree to their agent’s fee in writing before they start touring homes.
Though buyers can request that the seller covers their agent’s commission as part of an offer, this shift allows for greater variability and negotiation in who ultimately pays these fees.
Average real estate commission rates in Oregon
Commission rates in Oregon vary based on factors such as the location of the property, market conditions, and the services offered by the agent. While these fees are negotiable, understanding the typical expectations can help set the stage for productive discussions. Below is a breakdown of estimated commission fees based on median home prices in some of Oregon’s largest cities.
City
Median Home Sale Price
1.5% Real Estate Commission
3% Real Estate Commission
5% Real Estate Commission
Portland
$529,950
$7,949
$15,899
$26,498
Eugene
$465,000
$6,975
$13,950
$23,250
Salem
$434,000
$6,510
$13,020
$21,700
At Redfin, our commitment is to offer consumers the best value. We provide sellers with listing fees starting at just 1%*, while our buyer fees vary by location but remain competitive to help your offer stand out in the market.
Can you negotiate real estate commissions in Oregon?
Absolutely! No laws set specific commission rates, so agents are open to negotiation depending on the services required and the details of the transaction.
When negotiating, consider the agent’s expertise, marketing strategies, and the condition of the local market. If your property is expected to sell quickly or has a strong appeal, you may have more leverage to negotiate a lower commission. Additionally, in dual agency situations—where one agent represents both the buyer and seller—there may be room for reduced fees.
Tips for a successful negotiation
Interview multiple agents to compare their commission rates and services.
Discuss performance incentives, such as offering a higher commission for quicker sales or a better final price.
Leverage the desirability of your property, as agents may accept lower commissions if they expect a fast sale.
Oregon real estate commission FAQs
What are the changes to real estate commission? As of 2024, buyers must agree to their agent’s fees in writing before touring homes. Additionally, in markets, MLS listings no longer display buyer agent compensation. Learn more about these changes here.
How do the changes impact buyers in Oregon? Buyers must now sign a commission agreement with their agent before home tours. However, they can still negotiate for the seller to cover the buyer’s agent’s fee during the offer process.
How do the changes impact sellers in Oregon? Sellers must still decide what compensation they’ll offer to buyer’s agents, if any, and negotiate these terms as part of the offer.
How do you find a real estate agent in Oregon? Ready to begin your home search or put your house on the market? Redfin can connect you with an experienced agent to guide you through the process.
How can you avoid fees? You can sell your home without an agent in Oregon to save on commission fees, but this requires additional effort in marketing, showings, and managing the necessary 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.
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