New Real Estate Rules Transform Home Buying and Selling
The National Association of Realtors implements significant changes to commission structures and agent agreements.
- Buyers must now sign a legally binding agreement with their agents before touring homes.
- Seller's agents can no longer advertise commission fees on multiple listing services.
- The changes aim to reduce 'steering' practices and increase transparency in agent compensation.
- Experts suggest the long-term impact may lower commission rates and foster a more competitive market.
- Concerns arise over buyers needing extra cash to pay their agents directly.
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