Latest news with #StephanieKastner
Yahoo
16-05-2025
- Business
- Yahoo
Redfin Reports Real Estate Agent Commissions Haven't Changed Much Since the NAR Settlement Took Effect
Buyer's agents earned an average of 2.4% in commission in the first quarter—up slightly from when the new NAR rules took effect in August, but down slightly from a year earlier SEATTLE, May 16, 2025--(BUSINESS WIRE)--(NASDAQ: RDFN) — The average buyer's agent commission was 2.40% for homes sold in the first quarter, according to a new report from Redfin ( the technology-powered real estate brokerage. That's up slightly from 2.37% in the fourth quarter of 2024 and 2.36% in the third quarter of 2024—when the new National Association of Realtors (NAR) commissions rules went into effect—but down slightly from 2.43% in the first quarter of 2024, when the new rules were announced. The report is based on an analysis of Redfin's data on buyer's agent commissions for closed home sales. This analysis uses national, aggregated sales data from Redfin agents' listings, deals referred by to partner agents, and deals where buyers used Redfin-owned Bay Equity Home Loans. Commissions Are Flattening For $1 Million-Plus Homes But Rising for More Affordable Homes When the commissions data are broken down by price tier, a different trend emerges. Buyer's agents are earning a slightly smaller commission percentage for luxury homes than before the NAR settlement, and a slightly bigger percentage for more affordable homes. For homes that sold for $1 million or more in the first quarter, the average buyer's agent commission was 2.17%. That's unchanged from the prior quarter, but down from 2.22% in the third quarter of 2024—when the new rules took effect—and down from 2.30% a year earlier. For homes that sold for $500,000 to $999,999, the average buyer's agent commission was 2.29%—up from 2.26% in the prior quarter and 2.27% in the third quarter of 2024, but down from 2.34% a year earlier. For homes that sold for less than $500,000, the average buyer's agent commission was 2.49%—up from 2.46% in the prior quarter, 2.42% in the third quarter of 2024, and 2.48% a year earlier. Commissions are lower for high-priced homes because agents have more room to reduce their fees and still earn a healthy paycheck. Most Sellers Are Still Paying Buyer's Agent Commissions Redfin agents report that most sellers are still choosing to pay the buyer's agent commission, though there are some exceptions. Commission rates had started to fall gradually in the decade prior to the NAR settlement. But in dollar terms, buyer's agents earn more money because home prices have risen significantly. Agents in some markets are reporting a shift in commissions, while agents in others are reporting that it's business as usual. "Most sellers are choosing to pay a 2.5% or 3% commission to the buyer's agent, but I am seeing an increase in the number of sellers offering 2%," said Stephanie Kastner, a Redfin Premier agent in Seattle. Kastner noted that many of the 2% commissions she has seen are for new-construction homes on the outskirts of Seattle. Chaley McVay, a Redfin Premier agent in Portland, OR, said she hasn't seen much of a change since the new rules went into effect. "Sellers don't seem to have any issue paying a buyer's agent commission," McVay said. "But if we enter a seller's market similar to that of 2021 and 2022—with rampant bidding wars—sellers may be inclined to offer low or no commission to the buyer's agent, forcing buyers to bridge the gap. And if that happens, first-time buyers will be hit hardest because many of them can already barely afford to buy a home." Nearly Half of Recent Buyers and Sellers Did Not Try to Negotiate Agent Commission: Survey Nearly 2 in 5 (37.4%) people who sold a home in the last year negotiated or tried to negotiate the commission paid to their agent, according to a Redfin-commissioned survey conducted by Ipsos in March-April 2025. The lion's share of recent sellers—45.9%—did not try to negotiate. Buyers were less likely to negotiate, probably because they often aren't the one paying their agent. Just over one-quarter (27.2%) of people who bought a home in the last year negotiated or tried to negotiate the commission paid to their agent, the survey found. Nearly half (47.8%) did not try to negotiate. To read the full report, including charts and methodology, please visit: About Redfin Redfin ( is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here. Redfin-F View source version on Contacts Contact Redfin Redfin Journalist Services: Erin Osgoodpress@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
16-05-2025
- Business
- Business Wire
Redfin Reports Real Estate Agent Commissions Haven't Changed Much Since the NAR Settlement Took Effect
SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — The average buyer's agent commission was 2.40% for homes sold in the first quarter, according to a new report from Redfin ( the technology-powered real estate brokerage. That's up slightly from 2.37% in the fourth quarter of 2024 and 2.36% in the third quarter of 2024—when the new National Association of Realtors (NAR) commissions rules went into effect—but down slightly from 2.43% in the first quarter of 2024, when the new rules were announced. The report is based on an analysis of Redfin's data on buyer's agent commissions for closed home sales. This analysis uses national, aggregated sales data from Redfin agents' listings, deals referred by to partner agents, and deals where buyers used Redfin-owned Bay Equity Home Loans. Commissions Are Flattening For $1 Million-Plus Homes But Rising for More Affordable Homes When the commissions data are broken down by price tier, a different trend emerges. Buyer's agents are earning a slightly smaller commission percentage for luxury homes than before the NAR settlement, and a slightly bigger percentage for more affordable homes. For homes that sold for $1 million or more in the first quarter, the average buyer's agent commission was 2.17%. That's unchanged from the prior quarter, but down from 2.22% in the third quarter of 2024—when the new rules took effect—and down from 2.30% a year earlier. For homes that sold for $500,000 to $999,999, the average buyer's agent commission was 2.29%—up from 2.26% in the prior quarter and 2.27% in the third quarter of 2024, but down from 2.34% a year earlier. For homes that sold for less than $500,000, the average buyer's agent commission was 2.49%—up from 2.46% in the prior quarter, 2.42% in the third quarter of 2024, and 2.48% a year earlier. Commissions are lower for high-priced homes because agents have more room to reduce their fees and still earn a healthy paycheck. Most Sellers Are Still Paying Buyer's Agent Commissions Redfin agents report that most sellers are still choosing to pay the buyer's agent commission, though there are some exceptions. Commission rates had started to fall gradually in the decade prior to the NAR settlement. But in dollar terms, buyer's agents earn more money because home prices have risen significantly. Agents in some markets are reporting a shift in commissions, while agents in others are reporting that it's business as usual. 'Most sellers are choosing to pay a 2.5% or 3% commission to the buyer's agent, but I am seeing an increase in the number of sellers offering 2%,' said Stephanie Kastner, a Redfin Premier agent in Seattle. Kastner noted that many of the 2% commissions she has seen are for new-construction homes on the outskirts of Seattle. Chaley McVay, a Redfin Premier agent in Portland, OR, said she hasn't seen much of a change since the new rules went into effect. 'Sellers don't seem to have any issue paying a buyer's agent commission,' McVay said. 'But if we enter a seller's market similar to that of 2021 and 2022—with rampant bidding wars—sellers may be inclined to offer low or no commission to the buyer's agent, forcing buyers to bridge the gap. And if that happens, first-time buyers will be hit hardest because many of them can already barely afford to buy a home.' Nearly Half of Recent Buyers and Sellers Did Not Try to Negotiate Agent Commission: Survey Nearly 2 in 5 (37.4%) people who sold a home in the last year negotiated or tried to negotiate the commission paid to their agent, according to a Redfin-commissioned survey conducted by Ipsos in March-April 2025. The lion's share of recent sellers—45.9%—did not try to negotiate. Buyers were less likely to negotiate, probably because they often aren't the one paying their agent. Just over one-quarter (27.2%) of people who bought a home in the last year negotiated or tried to negotiate the commission paid to their agent, the survey found. Nearly half (47.8%) did not try to negotiate. To read the full report, including charts and methodology, please visit: About Redfin Redfin ( is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here. Redfin-F
Yahoo
28-04-2025
- Business
- Yahoo
Atlanta home buyers offered more sale concessions in 2025
A recent study on housing sale concessions, when home sellers give things to buyers to help push a sale through, showed that in major markets, sellers were giving more. Among the big cities the Redfin analysis focused on, Seattle and Portland were the only cities where home sellers were making bigger concessions than Atlanta. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] 'It's super common to see seller concessions for condos and new-construction townhomes, but less so for single-family homes—unless the single-family home has been sitting on the market for a while,' Stephanie Kastner, a Redfin Premier real estate agent, said. Kastner said rising home owners' association fees and insurance prices were making condos a harder sell. TRENDING STORIES: Heavy police presence in DeKalb County community The mystery caller to Shedeur Sanders during the draft was the son of a Falcons coach Suspect wanted for leading law enforcement on chase, critically injuring 2 GA deputies, arrested "Builders are offering concessions because it's in their best interest to keep sale prices high; they're willing to pay buyers' closing costs and maybe provide a free washer-dryer if it means they don't have to drop the listing price,' Kastner added. For the current real estate market in the metro Atlanta area, Redfin reported 61.5% of homes were sold with concessions from January to March, a nearly 5% increase from the same time in 2024. Common concessions include covering closing costs like appraisal fees, title insurance or loan origination fees, according to the National Association of Realtors. The Redfin data comes alongside new numbers from the Georgia MLS, a real estate services company that tracks buying and selling in the state. In March, GAMLS data showed home sale volumes had fallen nearly 5% both for dollar volume and units sold. However, inventory data was better, showing a 20.1% increase in listings and a 48% increase in active listings compared to the previous year. [SIGN UP: WSB-TV Daily Headlines Newsletter]
Yahoo
21-04-2025
- Business
- Yahoo
44% of home sellers are giving concessions to buyers: Redfin
(NewsNation) — Rising inventory and sluggish demand are giving home buyers leverage, pushing more sellers to offer concessions to get deals done. According to a new Redfin report, sellers gave concessions to buyers in 44% of U.S. home-sale transactions in the first quarter, up from 39% a year earlier. The latest figure is just below the 45% record set in early 2023 and double what it was a few years ago in June 2022, when sellers had the upper hand in a red-hot market. America's housing shortage by the numbers A concession is when a seller offers something that lowers the buyer's total purchasing cost without reducing the home's list price — perks like money toward repairs, closing costs, or mortgage-rate buydowns. As with most things in real estate, concessions vary widely depending on location. In Seattle, home sellers gave concessions in 71% of first-quarter transactions — nearly double the rate from a year earlier and the highest share among the 24 major metros Redfin analyzed. 'Condos have become a tougher sell because of skyrocketing HOA fees and insurance,' Stephanie Kastner, a Redfin Premier real estate agent in Seattle, said in the report. Real estate agent commissions mostly unchanged since new NAR rules Kastner added: 'Builders are offering concessions because it's in their best interest to keep sale prices high; they're willing to pay buyers' closing costs and maybe provide a free washer-dryer if it means they don't have to drop the listing price.' Portland, Oregon, was second on the list at 64%, up from 50% a year before. 'Buyers used to ask for concessions to cover little things like repairs. Now they're negotiating concessions so they can afford to buy a home,' said Chaley McVay, a Redfin Premier agent in Portland. McVay said a lot of sellers are offering money for mortgage-rate buydowns, and she even had a seller cover seven months of HOA fees for the buyer. Sellers in Atlanta (62%), San Diego (61%) and Denver (59%) also offered concessions above the national average, though those levels are mostly in line with the year prior. Rising concessions are a sign the housing market is tilting in favor of buyers in some parts of the country. The shift has been driven by a trifecta of high home prices, elevated mortgage rates and recent economic uncertainty from Trump's trade war — all of which have made buyers nervous. At the same time, sellers are facing more competition from each other with active listings recently hitting the highest level in five years, according to Redfin. In some cities, sellers are feeling less pressure to sweeten deals. Last quarter, home sellers in New York City gave concessions to buyers in roughly 6% of home-sale transactions — declining nearly 16 points from a year prior and the lowest share among the metros analyzed. The next biggest decline was in Miami, where concessions fell about 13 points from a year earlier to 34%. Concessions also fell in San Antonio, down 11 points to 44%, as well as, Tampa, where they dropped 9 points to 34%. 'Sellers in Florida and Texas have had more time to get used to a slow market, and have started pricing their homes lower from the get-go, meaning they often don't need to offer concessions,' Redfin noted in the report. Nationwide, roughly 16% of homes that sold in the first quarter had a price cut and a concession, up from 13% a year earlier. Redfin's report on seller concessions was based on an analysis of data submitted by Redfin buyers' agents across the country, covering rolling three-month periods from 2019 to the present. The region-specific information is based on data for 24 major U.S. metros. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Wire
21-04-2025
- Business
- Business Wire
44% of Home Sellers Are Giving Concessions to Buyers—Just Shy of the Highest Level
SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Home sellers gave concessions to buyers in 44.4% of U.S. home-sale transactions in the first quarter, according to a new report from Redfin ( the technology-powered real estate brokerage. That's up from 39.3% a year earlier, and is just shy of the 45.1% record high at the start of 2023. This is based on an analysis of data submitted by Redfin buyers' agents across the country, covering rolling three-month periods from 2019 to present. A concession is recorded when an agent reports a seller provided something that helped reduce the buyer's total cost of purchasing the home. That could include money toward repairs, closing costs and/or mortgage-rate buydowns. It does not include situations in which the seller lowered the list price of their home or lowered the price due to a negotiation with a buyer. Sellers are increasingly handing out concessions because the housing market has tilted in favor of buyers. Homebuyer demand is sluggish due to high home prices, elevated mortgage rates and economic uncertainty. At the same time, sellers are facing more competition from each other, with listings now at a five-year high. When buyers have more options to choose from, it typically means they have more negotiating power. Plus, Redfin agents report that many homes are overpriced, which often means they linger on the market, forcing sellers to offer concessions to find a buyer. , a Redfin Premier real estate agent in Portland, OR, said a majority of offers she is writing for buyers request concessions from the seller—especially if the buyer is purchasing a home for the first time. 'Buyers used to ask for concessions to cover little things like repairs. Now they're negotiating concessions so they can afford to buy a home,' McVay said. 'A lot of sellers are offering money for mortgage-rate buydowns, and I recently had one seller cover seven months of HOA fees for the buyer.' McVay continued: 'Sellers are feeling nervous because a lot of them bought at the top of the market in 2021 and 2022, and will now be re-buying at a higher mortgage rate. They're worried about net proceeds. That's why I recommend my buyers ask for concessions instead of a lower sale price—it can be a win-win because then the buyer is catching a break and the seller doesn't have to go below the price they had in their head.' Concessions Are Rising Most in Seattle and Portland Seattle home sellers gave concessions to buyers in 71.3% of home-sale transactions during the first quarter—the highest share among the 24 major U.S. metropolitan areas Redfin analyzed. That's roughly double the 36.4% share of a year earlier, representing the largest increase among the metros Redfin analyzed. 'It's super common to see seller concessions for condos and new-construction townhomes, but less so for single-family homes—unless the single-family home has been sitting on the market for a while,' said Stephanie Kastner, a Redfin Premier real estate agent in Seattle. 'Condos have become a tougher sell because of skyrocketing HOA fees and insurance. And builders are offering concessions because it's in their best interest to keep sale prices high; they're willing to pay buyers' closing costs and maybe provide a free washer-dryer if it means they don't have to drop the listing price.' Portland, OR saw the next biggest increase, up 14.2 percentage points to 63.9%, which was the second highest rate. Next came Los Angeles (+11 ppts to 56.1%), San Jose, CA (+10.6 ppts to 16.7%) and Houston (+6.2 ppts to 46%). After Seattle and Portland, the highest concession rates are in Atlanta, San Diego and Denver. New York saw the biggest drop in concessions. Home sellers there gave concessions to buyers in just 5.5% of home-sale transactions, down 15.7 percentage points from a year earlier and the lowest share among the metros Redfin analyzed. The next biggest declines were in Miami (-13.1 ppts to 33.8%), San Antonio (-10.9 ppts to 44.4%), Tampa, FL (-9.2 ppts to 33.9%) and Phoenix (-3.5 ppts to 51.2%). Housing markets across Florida and Texas have been cooling for a while, and prices are now falling in many parts of those states. Sellers in Florida and Texas have had more time to get used to a slow market, and have started pricing their homes lower from the get-go, meaning they often don't need to offer concessions. After New York, the lowest concession rates are in San Francisco, San Jose, Boston and Chicago. Some Sellers Are Lowering Their Prices in Addition to Offering Concessions Some sellers are giving out concessions and getting less money than they hoped for their homes, which can occur when a seller cuts their asking price once the home is on the market, accepts an offer below their asking price, or both. Roughly one in five homes (21.5%) that sold during the first quarter had a final sale price below the asking price in addition to a concession, up from 18.5% a year earlier. Roughly one in six (16.2%) had a price cut and a concession, up from 13% a year earlier. And about 1 in 10 (9.9%) had all three—a concession, a price cut and a final sale price below the original list price. That's up from 8% a year earlier. 13% of Pending Home Sales Were Canceled Last Month With economic jitters on the rise, many home purchases are also falling through at the eleventh hour. Roughly 52,000 U.S. home-purchase agreements were canceled in March, equal to 13.4% of homes that went under contract that month—up slightly from a year earlier. That's the third highest March level in records dating back to 2017; the highest was in 2020, when the pandemic brought the housing market to a halt. Please note that purchase cancellation data cover single-month periods, not rolling three-month periods, and homes that fell out of contract during a given month didn't necessarily go under contract that same month. To view the full report, including metro-level data and charts, please visit: About Redfin Redfin ( is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here.
