New Hampshire Real Estate Commissions: What You Can Expect in 2024
Understanding how real estate commissions work is crucial when navigating the buying or selling process in New Hampshire. In 2024, new updates were introduced across the U.S., reshaping real estate commissions to provide clearer communication and greater transparency. These updates aim to help both buyers and sellers make more informed decisions about real estate fees.
Whether you’re a seasoned seller or purchasing your first home, this guide will explain what you need to know about real estate commissions in New Hampshire and how they could affect your transaction.
Current state of the New Hampshire housing market
Before diving into real estate commissions, it’s helpful to understand the current state of the housing market in New Hampshire:
Median Home Sale Price
$502,700
Housing Supply
5,610 (+15.3% YoY)
Homes Sold Above List Price
50.8% (-6.5 pts YoY)
Understanding real estate commissions in New Hampshire
What are real estate commissions?
Real estate commissions refer to the fees paid to real estate agents for their services in facilitating a home sale. These fees are typically calculated as a percentage of the home’s final sale price and are paid at closing.
Who pays the commission?
In the past, the seller usually covered both their agent’s commission and the buyer’s agent fees. However, starting August 17, 2024, buyers must now sign a written agreement detailing their agent’s fee before beginning home tours.
Although buyers can still ask the seller to cover their agent’s fee during negotiations, the contribution from the seller can vary and is entirely negotiable depending on the circumstances.
Average real estate commission rates in New Hampshire
Commission rates in New Hampshire vary depending on the specifics of the deal and the agreement between the involved parties. While there are common rates, commissions are fully negotiable, allowing buyers and sellers to tailor a fee structure that suits their needs.
Several factors, such as the home’s location, market trends, and the agent’s services, can influence the final commission. This provides flexibility for buyers and sellers to find a solution that works for them. Below is an example of commission rates for median home prices in major New Hampshire cities:
City
Median Home Sale Price
1.5% Real Estate Commission
3% Real Estate Commission
5% Real Estate Commission
Manchester
$445,000
$6,675
$13,350
$22,250
Nashua
$502,242
$7,534
$15,067
$25,112
Concord
$426,000
$6,390
$12,780
$21,300
At Redfin, we aim to deliver the best value to consumers. Our listing fees for sellers can be as low as 1%,* and while buyer fees vary depending on the area, we remain competitive to help your offer stand out.
Can you negotiate real estate commissions in New Hampshire?
Yes, real estate commissions in New Hampshire, like in the rest of the U.S., are fully negotiable. Agents may be open to lowering their fees based on the nature of the transaction, the services they’re offering, or your relationship with them.
When negotiating commissions, consider the level of service, marketing plans, and the agent’s experience in your area. Some agents may be more flexible on fees if the property is likely to sell quickly or is in high demand. If the same agent represents both the buyer and seller in a dual agency, the commission could be reduced.
Tips for a successful negotiation
Compare multiple agents and their fee structures before choosing one.
Consider performance-based incentives, such as a higher commission for a faster sale or a higher final price.
If your property is in a desirable location, use that to your advantage to negotiate a lower commission.
New Hampshire real estate commission FAQs
What are the changes to real estate commission? Two key changes were implemented in 2024; buyers must now sign an agreement with their agent that outlines the agent’s commission before viewing homes. Additionally, in many markets, buyer agent fees are no longer displayed in MLS listings. Learn more about the real estate commission changes here.
How do the changes impact buyers in New Hampshire? Buyers must confirm their agent’s fee in writing before home tours. However, they can still ask the seller to cover their agent’s commission when submitting an offer.
How do the changes impact sellers in New Hampshire? Sellers will need to negotiate with their agent about how much, if anything, they are willing to offer the buyer’s agent. This will become part of the offer process, allowing sellers to review and negotiate these terms.
How do you find a real estate agent in New Hampshire? Whether you’re looking to buy or sell a property, connecting with a Redfin agent can help you navigate the process with ease and confidence.
How can you avoid fees? If you choose to sell your home without an agent (also known as For Sale By Owner or FSBO), you can avoid commission fees. However, this option requires you to handle everything from marketing and showings to legal paperwork on your own.
*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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