How much is Colorado real estate commission?
The average Colorado real estate commission amount for a real estate deal is around 6%. A lot of agents and listing brokers will lower their “side” of the commission. The real estate market in Colorado tends to be more competitive than other states. Therefore, changing the things people will do to land sales – just to put it simply.
You can do the math yourself. However, 6% commission on a $400,000 piece of property in Colorado comes out to $24,000 – which is then split between the seller’s agent and the buyer’s agent. That’s a lot of money for not really doing much besides taking people around to look at property for sale in Colorado.
Colorado Real Estate Market
The market affects how much commission agents take in your area. Colorado’s real estate market currently holds a high amount of buyers, and a low amount of houses for sale. Which means if you are selling your property, you need to push your agent to give you a commission break. All the good real estate companies do it nowadays, and it will not be out-of-line for you to tell them this. Colorado real estate commission will be negotiated in today’s market, take advantage.
When the market is full of houses, and not many buyers – the game switches. Now, you will find buyer’s agents dropping their commission amount. Take advantage of either side of the market when the time is right. There is no reason for any company to pay more traditional real estate commission amounts. If you are curious about the current state of the market, look into these resources below:
- A recent news story (September, 2018) from the Denver Post.
- Another good study on Colorado Real Estate
Commission is KING! And so is having a real estate agent.
Unfortunately, no matter how much you think real estate agents are overpaid – they still get paid on every sale of every house. That being said, you can indeed go directly to a for sale by owner property and trust your luck. You need to have a real estate agent. I’ll give that to you one more time – you NEED to have a real estate agent. Finding an agent can be a task in itself but if you’re looking for a solid Northern Colorado real estate agent, then looking into the ones closest to your area of interest is best practice.
Agents that live and operate closest to the area you are looking to buy or sell your property in Colorado, will be able to help you out the most.
Stay calm, the Colorado market changes all the time.
The most important thing to remember when you are looking for property for sale in Colorado, is that things change. They will go back and forth, sellers to buyers. For the rest of eternity. Be careful not to let some slick talking house hustler get you into a contract that you’re not comfortable with. We recommend only a few local realtors and agencies that we believe fit the bill.
In conclusion, no matter if you’re trying to sell your house today or buy a house tomorrow you need to be aware of how much Colorado real estate commission is paid to each agent. They make too much and it’s time for that to change.
The Final Word on Colorado Real Estate Commission
6% is too much money for the work that is required to close real estate deals in Colorado today. If you talk to an agent, they all complain about how tough it is being an agent and how much work it is – this is false. The market is just in bad shape, and won’t get any better soon. Let’s focus on the positives – there are still solid companies that focus on Colorado real estate commission amounts. You just need to trust them.