Real Estate Commission Changes and Their Impact on Home Buyers and Sellers
Thursday, 28 March 2024, 00:11
Real Estate Commission Changes
Buying and selling a home could get cheaper after the National Association of Realtors agreed to resolve a lawsuit and rewrite several rules that regulate how commissions are set, advertised, and paid.
Current Scenario
- Sellers currently pay a commission of 5 or 6 percent of the purchase price to agents.
- John Yang discusses more with New York Times real estate reporter Debra Kamin.
Expected Impact
- The changes aim to bring more transparency in the real estate industry.
- This could potentially lead to cheaper home prices for both buyers and sellers.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.