Real estate agent commission rules change Saturday. Here’s what you need to know
4 months, 1 week ago

Real estate agent commission rules change Saturday. Here’s what you need to know

LA Times  

On Saturday, industry rules governing real estate agent commissions will change — a shift some experts say could ultimately lower costs for consumers buying and selling a home. If I am a seller does this mean I don’t need to pay buyer broker commissions now? Sellers may still want to pay buyer broker commissions for the same reason and they are free to do so under the new rules — as long as their agent doesn’t advertise the offer on the MLS. Sellers may continue to pay buyer broker commissions in this way, because they may be able to net a bigger profit if financing the commission allows a buyer to offer more for a home than someone paying their agent out of their pocket.

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Looking to buy a home? You may now need to factor in the cost of your agent’s commission
4 months, 1 week ago

Looking to buy a home? You may now need to factor in the cost of your agent’s commission

Associated Press  

LOS ANGELES — Thinking of buying a home with the help of a real estate agent? It remains to be seen whether the policy overhaul will lead to lower agent commissions or fewer sellers opting not to offer to cover the buyer’s agent fees. Removing buyer-agent compensation offers from home listings Traditionally, a buyer’s agent’s commission has been paid by …

Real estate commission rules are about to change. Here’s how it could affect home buying
4 months, 2 weeks ago

Real estate commission rules are about to change. Here’s how it could affect home buying

LA Times  

Come Aug. 17, home buyers will need to directly negotiate the commission their agent earns. In large part this was because buyer’s agents “steered” their clients to homes that offered higher commission rates, according to the lawsuits. “It’s really surprising that real estate commissions have stayed as high as they have in the internet era,” said Jordan Barry, a professor …

How new real estate industry rules around brokers’ commissions will impact home buyers and sellers
4 months, 2 weeks ago

How new real estate industry rules around brokers’ commissions will impact home buyers and sellers

Associated Press  

LOS ANGELES — Earlier this year, the National Association of Realtors and several major real estate brokerages agreed to pay over $950 million to settle federal lawsuits claiming they forced homeowners to pay inflated commissions to sell their homes. Real estate brokerage Re/Max last year agreed to pay $55 million to settle litigation over agent compensation. It could be that …

Rules that helped set real estate agent commissions are changing. Here’s what you need to know
9 months ago

Rules that helped set real estate agent commissions are changing. Here’s what you need to know

Associated Press  

The cost of hiring a real estate agent to buy or sell a home may soon change, along with decades-old rules that have helped determine broker commissions. Such an arrangement is known in the industry as “cooperative compensation.” Under the proposed NAR settlement, a broker who represents a seller would no longer be allowed to include a blanket offer of …

Realtor rules just changed dramatically. Here’s what buyers and sellers can expect
9 months ago

Realtor rules just changed dramatically. Here’s what buyers and sellers can expect

LA Times  

So long, 6% commission. “But that’s not necessarily true.” Copeland said when sellers pay a 6% commission to split between both agents, they pad that number into the purchase price, so buyers actually end up paying more for the home, and thus, pay for their own agent. of Realtors alleged that the practice kept commissions artificially high and incentivized buyers’ …

Realtors agree to change commission rules in a deal that could reduce costs for consumers
9 months, 1 week ago

Realtors agree to change commission rules in a deal that could reduce costs for consumers

LA Times  

of Realtors on Friday said it will make changes to its commission rules to settle national allegations the requirements stifled competition, a move that may reduce costs for at least some consumers. “This settlement over time will benefit home sellers and buyers greatly, eventually lowering agent commissions by tens of billions of dollars a year and helping align agent compensation …

Real estate industry facing pushback to longstanding rules setting agent commissions on home sales
1 year, 1 month ago

Real estate industry facing pushback to longstanding rules setting agent commissions on home sales

Associated Press  

LOS ANGELES — A series of court challenges seek to upend longstanding real estate industry practices that determine the commissions agents receive on the sale of a home — and who foots the bill. It names the trade association and seven brokerage companies, including Redfin Corp., Weichert Realtors and Compass Inc. “What’s at issue nationwide is costing Americans about $60 …

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