If you’re making plans to sell your home in the Prairie State, you’re probably looking at what other homes sold for, comparing list prices, and calculating your proceeds. If this is your first time selling or it’s been a while, you might be wondering, Who pays Realtor fees in Illinois? This has been a common question since new agent commission rules went into effect following a court settlement by the National Association of Realtors (NAR). Under the new rules that started in August 2024, home sellers are no longer automatically expected to pay the buyer’s agent fees — an industry tradition that dates back more than a century. But has the NAR settlement changed the way Realtor fees work in Illinois? In this guide, you’ll learn who pays Realtor fees in Illinois, how agent commissions work today, and when it might make sense for you to cover the buyer’s agent fees. We’ll also provide an Illinois agent commission calculator to help you decide what Realtor costs you’re willing to pay.
Some media outlets and industry analysts predicted the NAR settlement would redirect cost responsibility, pressuring homebuyers to pay their own agent fees. But that shift hasn’t happened — in Illinois or anywhere in the U.S. According to a nationwide HomeLight survey, 92% of agents say sellers are still paying the buyer’s Realtor fees. Why are sellers still covering this cost? It’s a matter of common-sense marketing. Higher mortgage rates and affordability obstacles have impacted Illinois’ housing landscape. In a slow market, offering to pay the buyer’s agent fees and giving up other seller concessions is a proven strategy to attract more offers and close a home sale. So, despite the NAR commission rule changes, in practice, most Illinois sellers continue to offer to cover the buyer’s agent commission. This is especially true in regions where: Based on survey responses from top-rated Illinois agents, the takeaway is clear: If you want to sell your home in an uncertain market, offer to pay your buyer’s Realtor fees. So, what will the two combined Realtor fees cost you in the Land of Lincoln? Or what might just the listing agent fee look like if you choose not to offer a buyer’s agent commission? To see ballpark estimates, use our Illinois Real Estate Commission Calculator below. You can compare scenarios based on your home’s sale price and the state’s average agent commission rates. You can also adjust the commission percentages up or down to see what rate you might want to negotiate. Illinois home sellers are not required to pay the buyer’s agent compensation. However, as our nationwide agent survey revealed, most sellers still offer to cover this expense for their buyers. Here’s a closer look at why you might want to do the same: While declining to pay this buyer cost may initially appear to be a money-saving strategy, you’ll want to carefully consider how it might impact your home’s visibility, days on market, and your bottom-line proceeds.Who pays Realtor fees in Illinois?
Illinois real estate agent commission calculator
Are Illinois sellers required to pay the buyer’s agent?
