For years, the average buyer’s agent commission rate in the St. Louis real estate market has remained remarkably stable. According to a chart from MORE, REALTORS®, the rate has consistently been at 2.7% for not just the past five years but for over two decades. However, recent data shows a notable shift. Starting in June 2023, the rate dropped to 2.6%, followed by a further decline to 2.575% in July and 2.5% in August, where it remained in September.
A Response to Legal Spotlight?
The timing of this decline coincides with a period of increased scrutiny on real estate commissions, largely due to recent class-action lawsuits that have been the subject of several articles I’ve written over the past several months.
While it’s too early to definitively say that the decline in commission rates is a direct response to these lawsuits, the correlation is hard to ignore. The legal challenges have certainly shed light on the industry’s practices, prompting discussions among consumers and professionals alike about the fairness and transparency of commission rates.
Average Commission Rate to Buyers Agents in St Louis
(click on chart for live, interactive chart)
