Real estate commission rules: What buyers and sellers need to know about their money and rights

New realtor commission policies are set to come in effect on August 17, but how will these policies impact home buyers and sellers?
Yahoo Finance’s Alexis Keenan breaks down the policies and its impact on those in the housing market.
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[JamieEngelRealtor]

I think that the attorney fees should have to be paid the same way...Attorneys should not be able to just take 40% or 30% of what they negotiate for their clients....REAL ESTATE AGENT COMMISSIONS HAVE ALWAYS BEEN NEGOTIABLE!

[MBrowser-yhqp]

1:03 The biggest change is for Buyers. Before when you wanted to see a house, you called an agent and saw it. Now, you must sign an Agreement on how much commission you will pay your agent to represent you for Buying that house that used to be paid for by the seller. Does that sound like an improvement? The Seller may still pay if the want to, but they no longer have to.

[TheDroidz]

How exactly is this suppose to pull prices down?

[PlaybookEmpire]

Agents should be paid an annual salary, and have commission negotiable… In my opinion, The business is extremely tough as it is without any benefits. On top of the monthly MLS fees, gas, suit cleaning, and ect. To much liability and not enough income to help weather the short term storm to stimulate potential long term success as an agent…

[insilence]

Work with the listing realtors first and foremost. All a buyers agent does is run through the mls just as a buyer can do, it is a joke to pay them. And to say a buyer did not have to pay it before, is a joke…it was worked into the home price! They paid it and interest down the road on the mortgage! Now the seller can save by dictating the percentage. Good. Smarten up home buyers!

[mrc]

Real estate commissions based on percentage is insane.
It should have been a fixed rate a long time ago.

[okinawasurfspots]

now a buyer has to compensate a fee upfront before even looking at a house and will pay the agent whether they buy a house or not…. next we’ll have to pay a car sales person just to look at a car and test drive…

[DriHand]

The general public has no idea what they are doing. Good luck 🍀

[fromthebirchwood]

I am 22 years old, lost my dad about half a year ago and I am going to receive some money soon. Would it be smart to grow my money in stocks for a few years while I am in college and then invest in rental properties afterwards, or should I go for real estate investing first?

[DanTheManIOM]

Why do we even need a buyer's agent ? I choose to represent myself since no one else cares about my money as much as I do.

[Mountainman]

Non sense it won’t drive down prices. People are greedy they will sell for every penny they can

[SandyLovesMarc]

And to protect Realtors too!!, Spending gas and so much time with buyers for them to walk into an open house and put in an offer with the selling agent which is NOT on your side. But with this settlement agents will be protected from things like that. Work and no pay? Not anymore!

[joelballard]

Not enough changes. Sellers commissions should only be paid by the seller, and buyers commissions should only be paid by the buyer. Those commissions should never be based off the price. Personally, realtors should be paid about 25 bucks an hour to process paperwork

[Coisiniiiiii]

There is a video title that caught my attention: "This $500, 000 property will cause the London housing market to crash." It sounds like big news. Has anyone seen this video? I'm curious about what it's about.

[rabbihossain]

I woke up to the tragic drawbacks of our debt-based financial system during the last financial crash. Through discipline, determination and Abby Joseph Cohen my financial advisor, I was able to retire recently in my early '50s with a bit of land in the Williamson act on the California coast and an investment portfolio that can sustain my daily living. I try to spread the word and encourage many people I meet it is possible to achieve the goal of independence. Living below your means can be enormously rewarding!
Practice humility and above all, Invest in the financial markets with expert guidance.

[sayedsadat]

It is not easy to buy a house without agent, 1.5 million people unemployed at once it’s not good for the economy of the country

[kevinclement]

Since the new implemented laws it has been great. I am now able to negotiate my own commissions with buyers in my market instead of being set by the listing agent. And all sellers say I will pay whatever commission if the deal is right! Just put whatever commission you have worked out with your client into the deal and ask the seller to pay it which may include coming up in price. As agents we know the best vendors, we know how to get our clients the house they want in a multiple offer situation and we develop good relationships with other agents in our market place that make the transaction smooth. We are well worth the money we earn!!!!

[LarryLunchbox]

Lawyers hijacked the system…good luck buying a house

[l_pops]

No reporter talks about how complicated it is to put together a legal real estate contract. This takes time and knowledge of a state's real estate laws that most buyers and sellers do not have. A further complication is the actual negotiation between the buyer and seller.

[jamesthompson]

I think the only people that are mad are the buyers agents.
No more greed!
But my question is, The realtors have known about this decision of the settlement since March 2024, but no real estate agency has said anything to their clients, they have actually rushed deals through before August 17! why weren’t the realtor companies honest with homeowners who are selling their homes?
Maybe it has to do with their commission, and not their client after all!