Quill Leaves NWMLS, Dramatically Slashes Listing Cost

Full disclosure: Quill Realty is a Seattle Bubble advertiser, and Tim worked with Craig at his previous company WaLaw (also an advertiser) to buy his home in 2011. Last week local brokerage Quill Realty (spotlighted in this 2014 post) announced that they will be withdrawing from the NWMLS completely in order to “offer broker services […]

Surefield Expands from 3D Tours in Attack on Commissions

Surefield, the local 3D home tour brokerage launched in April by a pair of Redfin veterans and a former Nvidea tech wizard, is expanding their mission to attack buyer’s agent commissions… from the seller’s side. Here’s an excerpt from their press release: Surefield is dramatically lowering buy-side commissions to bring the U.S. residential real estate […]

2013 Real Estate Commissions On Par with Pre-Bubble Years

It’s been a year and a half since we looked at how real estate commissions are faring—well past time for an update. For these charts I have estimated the total commissions for 2013 based on the sales volume and prices for the first half of the year. The final numbers will no doubt be slightly […]

Reader Question: Can I Negotiate a Commission Discount?

Full disclosure: The Tim was employed by Redfin (is just a shareholder as of October 2013) and WaLaw Realty and Quill Realty are Seattle Bubble advertisers. A reader wrote in with the following question about real estate agent commissions: In the near future my wife and I are going to need to sell our respective […]

Inflation-Adjusted Commissions Up 25% From Pre-Boom

By request of ChrisM and Alex, I ran the commission numbers I posted Friday through an inflation-adjustment. The chart below plots the total yearly commissions on single-family home sales in King County in 2011 dollars, adjusted based on the Bureau of Labor Statistics Consumer Price Index for the Seattle area (series CUURA423SA0). After you adjust […]

Total Commissions Cut in Half Since 2005 Peak

Here’s a different take on sales and price data that I found interesting. I took the total sales volume of single-family homes in King County for each year and multiplied it by the full-year average sale price, then took six percent of that amount to arrive at a total amount of potential commission paid to […]