A recent court verdict might change the way Realtors are compensated for their
work to support homebuyers and sellers. Currently, sellers pay a commission that
goes to their own agent, who then shares it with the buyer’s agent. Here are some
alternate models that might be considered.
The commission model may become more competitive.
A flat fee up-front fee might be charged for a list of services and expenses,
including transportation time and gasoline mileage. If the potential buyer
doesn’t find a home during that contract, they would have the option of
continuing with the broker, and a new fee would kick in.
Some lower-income and first-time buyers might forgo hiring agents to
represent them, which could very well cost them more in the long run.
Commissions are negotiable and there are many different ways the costs of a real estate transaction can evolve. If you have questions about the current model used in most transactions in America and the ways they might be changing. Drop me a line I am happy to hear from you.