Real Estate Commission Calculator — Sioux Falls, SD

Real Estate Commission Rates in Sioux Falls, South Dakota

The typical total real estate commission in Sioux Falls is 5.3% of the sale price, based on current market data for South Dakota. On the median Sioux Falls home price of $310,000, that works out to $16,430 in total agent fees.

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

How Commission Splits Work in Sioux Falls

• Listing agent typically receives $8,215 (2.6% of sale price)
• Buyer's agent typically receives $8,215 (if seller offers full split)
• Agent keeps ~70% after broker split: ~$5,751 per side
• Seller nets approximately $293,570 on a $310,000 sale

Tips for Negotiating Commission in Sioux Falls

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 South Dakota 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 Sioux Falls, SD?

The average total commission in Sioux Falls 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 Sioux Falls?

On the median Sioux Falls home price of $310,000, a listing agent earns roughly $8,215 before broker split. After a typical 70/30 agent-broker split, the agent takes home approximately $5,751.

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

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