I’m not sure how this settlement benefits anyone.
In the real estate transactions I have had, the commission was 5%. I paid 5% whether the buyer had an agent or not.
When I was the buyer, I had an agent because it cost me nothing and was a huge convenience. But I am not going to pay a buyer’s agent thousands because I can do it myself and their service is not worth me paying over $10,000 on top of the price of the house.
It will be interesting to see how this shakes out but I don’t see who the winners are here. It doesn’t seem to be realtors for sure, or buyers, and sellers only benefit if the commission significantly drops.
There may be more to this than I can discern from reading the news articles.
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