Posted 3/6/2024, 10:36:00 PM
Economists Propose New Real Estate Fee Structure - Could Save Homebuyers Billions
- Economists propose new "à la carte" compensation model for real estate agents that could save homebuyers $30 billion per year
- U.S. homebuyers pay 5.5% commission on average, much higher than many other countries
- 87% of U.S. homebuyers use an agent compared to lower percentages abroad
- New model would require buyers and sellers to pay their agents separately to prevent "steering"
- Approach aims to increase competition and align agent commissions more closely with services provided