Reported 2 months ago
Realtors in the US are preparing for significant changes in commission structures starting August 17, resulting from a $418 million settlement by the National Association of Realtors. These changes include eliminating the standard practice where home sellers pay commissions to both their agent and the buyer's agent, promoting transparency in agent compensation. Agents are now required to discuss their fees upfront with homebuyers, which may lead to a decrease in commission percentages and the rise of alternative business models, while some predict that less experienced agents may struggle in the new landscape.
Source: YAHOO