Nebraska Real Estate Commissions: What You Can Expect in 2024
When buying or selling a home in Nebraska, understanding real estate commissions is essential for accurate budgeting and effective negotiation. In 2024, new changes have improved the clarity of real estate commission structures across the U.S., enhancing transparency for both buyers and sellers. These updates are designed to help you make more informed decisions by clearly outlining real estate fees.
Whether you’re a first-time homebuyer or an experienced seller, this Redfin guide will assist you in navigating Nebraska’s real estate commissions and what to anticipate in the current market.
Current state of the Nebraska housing market
Before diving into the specifics of real estate commissions in Nebraska, it’s important to understand the current housing market dynamics in the state.
Median Home Sale Price
$296,600
Housing Supply
5,213 (+2.5% YoY)
Homes Sold Above List Price
26.4% (-9.51 pts YoY)
Understanding real estate commissions in Nebraska
What are real estate commissions?
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.
While buyers can still negotiate for the seller to cover their agent’s commission during the offer process, this new rule means 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
At Redfin, we are dedicated to offering consumers exceptional value. To support this, we provide sellers with a listing fee starting as low as 1%.* For buyers, our fees vary by location but are designed to be competitive, helping your offer stand out and increase your chances of success in the homebuying process.
Can you negotiate real estate commissions in Nebraska?
Yes! There are no federal laws or regulations 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.
When negotiating real estate commissions, consider the following:
The level of service provided by the agent
The marketing strategies they plan to employ
Their experience in the local market
Sellers may be able to negotiate lower rates if their property is highly desirable or likely to sell quickly. Additionally, in a dual agency situation where the same agent represents both the buyer and the seller, there may be opportunities for further reductions since no second agent is involved.
Tips for a successful negotiation
Compare multiple agents and their commission structures before making a decision.
Discuss performance-based incentives, such as offering a higher commission for a quicker sale or a better final price.
Leverage your property’s location if it’s in a sought-after area, as agents may be more willing to accept a lower commission.
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.
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