How a commission settlement may affect housing market

If your social media feed includes real estate brokers, you likely saw a lot of hot takes recently about the impact of a settlement involving the National Association of Realtors.

A judge has yet to approve the agreement, which settles a price-fixing lawsuit filed against the trade group – where home sellers accused agents of price fixing commissions. Along with a financial settlement, the agreement also binds the association from offering upfront buyer’s agent commissions on the Multiple Listing Service (MLS) and requires agents or anyone working with a homebuyer to enter into an agreement with them.

Traditionally, most selling agents charge a commission of 5% to 6% of the sale price of the home, splitting that commission with the buyer’s agent. Industry experts said the change in commission structure may lead to more home sellers refusing to pay commissions for buyer’s agents, which could require buyers to pay commission to their agents separately.

Read more: https://www.9news.com/article/money/markets/real-estate/realtors-real-estate-commission-settlement-housing-market/73-fe56d4da-fba6-4e21-8ea8-33debf4ee20a

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