Posted 3/19/2024, 11:49:11 AM
Real Estate Fee Overhaul Could Save Sellers Money, Lead to Industry Shake-up
- Sellers stand to benefit from overhaul of how real estate agents get paid, saving money on buyer's agent fees
- Settlement agreement scraps required commission rates listed on Multiple Listing Service
- Buyers and sellers will each pay their own agents starting in July
- Commissions could fall 25-50%, but prices may not drop as sellers keep savings
- Could lead to agents leaving industry; remaining ones will have to adapt with new fee structures
