Jeannette: I must agree. I saw 3 thumbs down on your answer and thought, What?!!! Your comment about anti-trust was golden!!!
But since I'm not a real estate agent, I can answer that!!! Rich, the "typical" is dropping from about 6% to about 5%. This is the commission the seller pays and is split with the buyer's agent. However, that is a national figure and I don't know the local figure. Here is my post from another person's question about selling.
"You need to know what they put in the MLS for the co-broke. If they charge you 6% commission and only put 2% in the MLS as the co-broke, very few other agents will show your home. If they put 4% in as the co-broke, you are getting your listing agent for very cheap and should have more buyers agents showing your home than usual but probably less marketing dollars spent than usual. Don't just assume that if you list for 6% that the fee is split 50/50. Also, do NOT take their word for it that the "standard" commission is 6%. If they say that, make them show you all the listings in your area and in your price range. If it is anything like Oak Park, 16 listings had a co-broke of 2.5%-x, 2 listings had a co-broke of 2.5%, one listing had a co-broke of 3% and one listing that had been on the market for over a year had a co-broke of 2%."
Rich, as a buyer, if you want to your agent to show you that house that has been on the market for a year with only a 2% co-broke, you might have to pony up the additional .5%.
Please also keep in mind, commission might be 10% for lots or condos. When you meet with a Buyer's agent, they can explain all of this to you. Even if they are a buyer's agent that charges YOU to show the property, they will NOT charge you to find out the rules and fees. For the most part, as a buyer, this isn't something you need to worry about. Just make sure you know what your signing before you sign anything.