"Shifting Real Estate Landscape: Impacts on Buyers, Sellers, and Agents"
Originally Published 1 year ago — by Tampa Bay Times
The National Association of Realtors has agreed to pay $418 million in damages and overhaul its commission policies, allowing buyers and sellers to pay their own agents starting in mid-July. Sellers are expected to benefit the most, as they won't have to deduct the buyer's agent fee from their sale proceeds. This change could lead to potential drops in home prices and commissions, affecting first-time homebuyers and potentially causing a mass exodus of real estate agents from the industry. The new commission structure may also lead to changes in how real estate transactions are conducted, with some agents adapting to charging flat fees and a potential emergence of a new type of agent focusing on contracts and closings.
