Average Real Estate Commission in Maine, Stockton Springs | UpNest (2024)

FAQs

What is the commission on Realtors in Maine? ›

Real estate agent commissions in Maine are a steep 5% to 6% of the home sale price. To maximize savings, consider negotiating with your agent. You can also opt for Flat Fee MLS Listing services like Houzeo.

Real Estate Agent Salaries in Maine

The estimated total pay for a Real Estate Agent is $252,147 per year in the Maine area, with an average salary of $149,766 per year.

How much does a real estate license cost in Maine? A real estate license in Maine can cost between $900-$1,100 depending on your preferred real estate school and course.

As the governing body responsible for enforcing the Maine Real Estate Brokerage License Act, the Maine Real Estate Commission has a number of disciplinary powers to make sure the state's licensees always obey the law. The commission also has the authority to investigate allegations of misconduct by a licensee.

What percent commission do most real estate agents charge? The typical commission under the current model has been somewhere between 5 and 6 percent of a home's purchase price, which is then split evenly between the agent representing the buyer and the agent representing the seller.

When you are considering the purchase of Midcoast Maine real estate, it is prudent to have a professional real estate team working on your behalf. A buyer's agent: Acts strictly for you in a real estate transaction. Organizes all the details up to and including your purchase.

In 2020, the median pay for real estate agents in the U.S. was roughly $49,000. The lowest 10% of earners made less than $25,000, while the highest 10% of earners made more than $112,000.

The highest-paying states for real estate brokers

According to GlassDoor, the top five states with the highest real estate broker salaries are New York, California, Nevada, Iowa, and Arizona. Commissions can vary based on city, market, property type, sales volume, and experience levels.

Despite these challenges for buyers, however, the current housing market Maine maintains is a promising one for homeowners and investors in the future. Appreciation, home prices, and property values in Maine are rising.

How much does a registered agent cost in Maine? ›

Maine Real Estate License Process and Information

The Sales Agent license is valid for two years and is not renewable. IMPORTANT NOTE – Application for the sales agent license must be made within one (1) year of passing the licensing examination.

The average total real estate agent commission rate in Maine is 5.17% of the final sale price. Based on the latest median home sale price in Maine ($409,785), that translates to a total cost of roughly $21,186.

Paying a higher commission for a full-service agent is often worth it. Their expertise and support can lead to a higher selling price, shorter time on the market, and a more streamlined process.

The number of real estate agents in Maine has grown by double-digit percentages since the start of the pandemic. In February 2019, there were 6,513 licensed agents in the state, according to the Maine Department of Professional and Financial Regulation. By February 2023, that number had increased 14% to 7,436.

Real Estate Commissions

Most real estate agents make money through commissions based on a percentage of a property's selling price. (Commissions can also be flat fees, but that is much less common.) Agents work under real estate brokers, and the commissions are paid directly to the brokers.

The Real Estate Commission, established by Title 5, section 12004‑A, subsection 37, consists of 4 industry members and 2 public members as defined in Title 5, section 12004‑A.

The Maine Real Estate Commission does not offer formal licensing reciprocity. However, if you're a real estate agent licensed in another state and wish also have a real estate license in Maine, you won't need to take additional Pre-Licensing courses.