Posted 3/19/2024, 3:50:00 PM
NAR settlement proposes allowing sellers to keep more equity by altering real estate agent commissions
- NAR settlement could allow sellers to keep more of their home equity by changing commission structure
- Settlement requires MLS databases to stop facilitating commission sharing between listing and buyer's agents
- With one agent instead of two involved, sellers would pay less in fees and transactions costs
- While sellers stand to benefit, prices for first-time homebuyers may not come down
- Settlement still needs court approval; if approved, changes take effect in July
