Legal Changes Slowly Opening Door to Renegotiating Real Estate Commissions

Recent legal settlements are changing how real estate commissions are paid, but changes may come slowly.

Commissions are negotiable, but rates have not yet changed in NYC despite lawsuits.

Sellers used to have to offer commission to buyer's agent, but new rules allow sellers to negotiate or reject.

If signed agreement after Jan 1, 2023, seller dictates buyer agent commission offer.

If signed earlier, legal changes may allow renegotiating existing commission agreements.