Real Estate Commission Calculator — Richmond, VA
Median home price in Richmond: $370,000 · Typical commission: 5% · Updated 2025
Total Commission
$18,500
Listing Agent Gets
$6,475
Buyer's Agent Gets
$6,475
Seller's Net
$351,500
Real Estate Commission Rates in Richmond, Virginia
The typical total real estate commission in Richmond is 5% of the sale price, based on current market data for Virginia. On the median Richmond home price of $370,000, that works out to $18,500 in total agent fees.
Following the 2024 NAR settlement, buyer's agent compensation is now negotiated separately in Virginia. Most transactions still split the commission 50/50 between listing and buyer agents, but this is no longer required. Sellers in Richmond have more flexibility than ever to offer lower buyer concessions.
How Commission Splits Work in Richmond
- Listing agent typically receives $9,250 (2.5% of sale price)
- Buyer's agent typically receives $9,250 (if seller offers full split)
- Agent keeps ~70% after broker split: ~$6,475 per side
- Seller nets approximately $351,500 on a $370,000 sale
Tips for Negotiating Commission in Richmond
- List at a higher price point — agents on $600,000+ homes often accept 2–2.5% listing side
- Compare multiple agents — commission rates in Virginia vary by 0.5–1% between agents
- Use a flat-fee MLS service — pay $300–$500 for MLS listing, offer buyer agent 2.5%
- 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 Richmond, VA?
The average total commission in Richmond is approximately 5%, 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 Richmond?
On the median Richmond home price of $370,000, a listing agent earns roughly $9,250 before broker split. After a typical 70/30 agent-broker split, the agent takes home approximately $6,475.
Do sellers have to pay the buyer's agent in Richmond?
No. Since August 2024, sellers in Virginia are no longer required to offer buyer agent compensation through the MLS. Many still do to attract buyers, but it's now fully negotiable.