Real Estate Commission Changes in the US
Realtors in the US are facing significant changes in how they get paid due to new rules starting on August 17. The changes eliminate the traditional 5-6% commission structure and require agents to discuss compensation upfront with buyers.
Key Points
- New rules eliminate traditional commission structure
- Buyers' agents must discuss compensation upfront
- Potential decrease in real estate commissions
- Shift towards alternative business models
Pros
- Potential for lower real estate commissions
- Empowerment of consumers with clarity and choice
Cons
- May lead to confusion among Realtors
- Could drive some full-service Realtors out of the industry