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From [1] "The settlement includes many significant rule changes. It bans N.A.R. from establishing any sort of rules that would allow a seller’s agent to set co
by vladgur 3y ago
From [1]
"The settlement includes many significant rule changes. It bans N.A.R. from establishing any sort of rules that would allow a seller’s agent to set compensation for a buyer’s agent, a practice that critics say has long led to “steering,” in which buyers’ agents direct their clients to pricier homes in a bid to collect a bigger commission check."
To me this reads that a transaction cost of selling a house will come down drastically from where its at now -- 6%.
[1] https://archive.is/1O8Mh https://archive.is/1O8Mh
- vladgur 3y agoP.S. I havent read the actual settlement, this NYTimes comment reads like buyers agents will now compete for their compensation, but it doesnt tell me if I would still have to pay 3% to the seller agent and whether that compensation will be open to market forces now