Real Estate Commission Calculator — Peoria, IL

Real Estate Commission Rates in Peoria, Illinois

The typical total real estate commission in Peoria is 5.3% of the sale price, based on current market data for Illinois. On the median Peoria home price of $175,000, that works out to $9,275 in total agent fees.

Following the 2024 NAR settlement, buyer's agent compensation is now negotiated separately in Illinois. Most transactions still split the commission 50/50 between listing and buyer agents, but this is no longer required. Sellers in Peoria have more flexibility than ever to offer lower buyer concessions.

How Commission Splits Work in Peoria

• Listing agent typically receives $4,638 (2.6% of sale price)
• Buyer's agent typically receives $4,638 (if seller offers full split)
• Agent keeps ~70% after broker split: ~$3,246 per side
• Seller nets approximately $165,725 on a $175,000 sale

Tips for Negotiating Commission in Peoria

1. List at a higher price point — agents on $600,000+ homes often accept 2–2.5% listing side
2. Compare multiple agents — commission rates in Illinois vary by 0.5–1% between agents
3. Use a flat-fee MLS service — pay $300–$500 for MLS listing, offer buyer agent 2.6%
4. Ask about a reduced rate on a simultaneous buy/sell — agents may discount if you're both buying and selling

Frequently Asked Questions

What is the average real estate commission in Peoria, IL?

The average total commission in Peoria is approximately 5.3%, slightly at or above the national average of 5.0–5.4% following the NAR settlement.

How much does a real estate agent make on a home sale in Peoria?

On the median Peoria home price of $175,000, a listing agent earns roughly $4,638 before broker split. After a typical 70/30 agent-broker split, the agent takes home approximately $3,246.

Do sellers have to pay the buyer's agent in Peoria?

No. Since August 2024, sellers in Illinois are no longer required to offer buyer agent compensation through the MLS. Many still do to attract buyers, but it's now fully negotiable.