After several lawsuits brought by home sellers, the rules around buying and selling properties in the U.S. are about to change. Listen to "The Daily" to hear how the far-reaching change could drive down housing costs. https://t.co/wswBjeHRFp
Buying And Selling A Home In California Set To Change https://t.co/PfwLE51HGJ
As soon as this summer, @nardotrealtor could retire a long-standing system traditionally setting brokers fees at 6% of the cost of a home sale, in a change to escape mounting claims that the rules caused home sellers to pay more than their fair share. https://t.co/q4GZclesOq




















A landmark settlement has significantly reshaped the U.S. housing market, altering the traditional commission structure for real estate transactions. The agreement, which has led to a notable decrease in the commission rates from the previous 5%-6% to 2%-2.5%, aims to address the affordability crisis and make homeownership more accessible. This change has prompted a mixed reaction among real estate professionals, with some predicting workarounds to protect their commissions, while others consider leaving the industry. The settlement has also resulted in a plunge in the stock prices of major real estate companies such as $RMAX, $HOUS, and $RDFN. The new commission structure is expected to save home buyers and sellers a significant amount of money, potentially transforming the way homes are bought and sold across the country. "Sellers are unlikely to pay brokers buying commission anymore."