The real estate market is set for a major shakeup. A legal settlement with the National Association of Realtors (NAR) paves the way for reduced real estate commissions, impacting industry giants like Zillow, Anywhere Real Estate, Compass, and Redfin, which saw significant drops in their shares. This pivotal change, introducing a new MLS rule against commission offers, could significantly alter how real estate transactions are handled.
Wall Street analysts predict commission reductions of 25-50%, benefiting online and discount brokerages with greater MLS access and lower rates. While this could favor homeowners selling their properties, it raises concerns for first-time and lower-income buyers due to potential shifts in agent motivation.
Amidst these changes, the NAR faces its own challenges, dealing with a substantial legal verdict and recent leadership changes. This decision marks a crucial turning point in the real estate sector.
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Chris Cusimano
Homes by Cusi Team Lead
Keller Williams Realty Boca Raton
Lic 3150469
7280 W. Palmetto Park Rd, Suite 110
Boca Raton, FL 33433
6 сен 2024