New regulations will soon impact real estate transactions. Buyers will now have the option to pay their own agents' commission instead of the seller being responsible for both commissions. This is expected to increase competition and lower commission rates. While this may initially burden buyers with upfront costs, it could ultimately save them money overall and give them more options for representation.
The National Association of Realtors has eliminated rules on commission rates, allowing for more flexibility in negotiations between agents and clients. This change comes in response to lawsuits and aims to provide more options for buyers and sellers. While some agents express concerns, buyers may benefit from potentially lower fees and increased opportunities in the competitive housing market. The full impact on home prices and the industry remains to be determined.
