If you’re getting ready to sell your house in Old Dominion, it’s likely you’re looking at what other nearby homes sold for, comparing list prices, and calculating your net proceeds. If this is your first time selling or it’s been a few years, you might be wondering, Who pays Realtor fees in Virginia? This question has become more common in Virginia and across the country since new real estate commission rules took effect after a landmark National Association of Realtors (NAR) court settlement. Under the new rules that started August 17, 2024, home sellers are no longer automatically expected to pay the buyer’s agent fees — an industry practice that had been standard for nearly a century. But has the NAR settlement changed the way Realtor fees are handled in Virginia? In this post, you’ll learn who pays Realtor fees in Virginia, how agent commissions work today, and when it might make sense to cover your buyer’s agent fee. We’ll also provide a Virginia agent commission calculator to help you decide what Realtor costs you’re willing to pay.
Some news outlets and market analysts predicted that the NAR settlement would shift cost responsibility, pressuring buyers to pay their own agent fees. But that U-turn hasn’t happened — in Virginia or anywhere in the U.S. According to a recent nationwide HomeLight survey, 92% of top agents say sellers are still paying the buyer’s Realtor fees. Why are home sellers still covering this now-optional expense? Agents say it’s a simple matter of common-sense marketing. Higher mortgage rates and affordability hurdles have impacted Virginia’s housing landscape. In a slow market, offering to pay the buyer’s Realtor fees and giving up other concessions is an effective strategy to attract offers and close a home sale. So, despite the NAR rule changes, most Virginia sellers continue to offer to cover the buyer’s agent commission. This is especially true in housing markets where: Based on feedback from top-rated Virginia agents, the takeaway is clear: If you want to attract more buyers and sell faster, offering to pay the buyer’s Realtor fees remains a smart strategy. So, what will the two Realtor fees cost you in the Mother of States? Or what might just the listing agent fee look like if you don’t offer to pay the buyer’s Realtor fees in Virginia? To see ballpark estimates, use our Virginia Real Estate Commission Calculator below. Compare different scenarios using the state’s average agent commission rates, which combined equal about 5.69% of your home’s listing price. You can also adjust the percentages up or down to see what Realtor fee rate you might want to negotiate. There is no law or mandate that requires a Virginia home seller to pay the buyer’s agent compensation. However, as HomeLight’s nationwide agent survey revealed, most sellers still offer to cover this cost for their buyers. Here’s a look at why you might decide to pay both Realtor fees in Virginia: At first glance, skipping the buyer’s agent fee may seem like a money-saver, but it can hurt your home’s visibility, days on market, and final sale price.Who pays Realtor fees in Virginia?
Virginia real estate agent commission calculator
Are Virginia sellers required to pay the buyer’s agent?
