Florida Real Estate Commissions: What You Can Expect in 2024
When buying or selling a home in Florida, it’s essential to understand real estate commissions to budget effectively and negotiate wisely. In 2024, new changes have reshaped how real estate commissions are disclosed across the U.S., offering greater clarity for both buyers and sellers. These updates aim to increase transparency, helping individuals make more informed decisions when dealing with real estate fees.
Whether you’re a first-time buyer or an experienced seller, this Redfin guide will help you navigate Florida’s real estate commissions and what to expect in today’s market.
Current state of the Florida housing market
Before diving into real estate commissions in Florida, let’s first take a look at the state’s housing market.
Median Home Sale Price
$409,700
Housing Supply
199,410 (+42.3% YoY)
Homes Sold Above List Price
11.4% (-5.1 pts YoY)
Understanding real estate commissions in Florida
What are real estate commissions?
Real estate commissions are fees paid by homebuyers or sellers to their agents for helping successfully complete a transaction. These fees are paid at closing and are usually calculated as a percentage of the property’s sale price.
Who pays the commission?
Previously, sellers covered both their agent’s commission and the buyer’s agent fees from the sale proceeds. However, starting August 17, 2024, buyers are now required to agree to their agent’s fee in writing before starting home tours.
While buyers can still request that the seller cover their agent’s commission during the offer process, this shift means that the amount a seller might contribute to a buyer’s agent fee is negotiable and may vary.
Average real estate commission rates in Florida
Real estate commission rates can differ significantly in Florida depending on the specifics of the transaction and the agreement between the parties involved. While certain commission rates are common, these fees are fully negotiable, allowing buyers and sellers to collaborate with their agents to find an arrangement that works best for them.
Factors like the property’s location, market conditions, and the agent’s services can all impact the final commission. This flexibility allows for discussions to tailor fees according to both parties’ budgets and goals. Below is a detailed overview of example commission rates based on median home prices in some of Florida’s largest cities.
City
Median Home Sale Price
1.5% Real Estate Commission
3% Real Estate Commission
5% Real Estate Commission
Jacksonville
$310,000
$4,650
$9,300
$15,500
Miami
$615,000
$9,225
$18,450
$30,750
Tampa
$450,000
$6,750
$13,500
$22,500
At Redfin, we’re dedicated to delivering the best value to consumers. To support this, we offer sellers a listing fee starting as low as 1%.* For buyers, our fees vary by location but remain competitive, helping your offer stand out and increasing your chances of success in the homebuying process.
Can you negotiate real estate commissions in Florida?
Definitely! There are no laws in the U.S. that set fixed commission rates, so agents may be open to negotiating lower fees based on the type of transaction, required services, and the client relationship.
When negotiating, consider the level of service the agent provides, their marketing strategies, and their experience in the local market. Sellers might be able to negotiate lower rates if their property is highly desirable or likely to sell quickly.
Tips for a successful negotiation
Compare multiple agents and their commission structures before choosing.
Discuss performance-based incentives, such as offering a higher commission for a faster sale or better final price.
Leverage your property if it is in a desirable area, as agents may be willing to accept lower commission.
Florida 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, the advertising of these fees has shifted—in many markets, buyer agent compensation is no longer visible on MLS listings. Learn more about these commission changes here.
How do the changes impact buyers in Florida? Buyers now need to sign an agreement with their agent outlining the commission rate before viewing 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 Florida? Sellers will still negotiate with their listing agent about the compensation they’ll offer the buyer’s agent, if any. They’ll review requests and negotiate the terms as part of the offer process.
How do you find a real estate agent in Florida? Whether you’re buying or selling, Redfin is here to assist. Connect with a Redfin agent today to get started.
How can you avoid fees? Selling a home without an agent in Florida can save on commission fees, but for sale by owner (FSBO) transactions require more work 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.
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