"Real Estate Industry Braces for Impact: Changes to Broker Commissions Shake Market"
TL;DR Summary
The National Realtor Association has agreed to eliminate the 6 percent commission rate for realtors, shifting the responsibility of realtor costs and fees from sellers to both buyers and sellers. This decision, prompted by lawsuits claiming commission rates contributed to higher home prices, is expected to impact the real estate industry by potentially driving down home prices and affecting the number of brokers in the business.
Topics:business#broker-commission#homebuying-process#impact-on-real-estate-industry#national-realtor-association#real-estate#realtor-fees
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