{"id":46992,"date":"2024-08-17T00:21:25","date_gmt":"2024-08-17T07:21:25","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=46992"},"modified":"2024-10-11T12:32:00","modified_gmt":"2024-10-11T19:32:00","slug":"buyer-real-estate-commission-rules-and-regulations","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/buyer-real-estate-commission-rules-and-regulations\/","title":{"rendered":"2 Key Changes in Real Estate Commission and Buyer Rules"},"content":{"rendered":"

Real estate agents across the country are playing by new rules that split apart a 100-year-old<\/a> commission playbook. In a seismic change brought on by a landmark court settlement<\/a>, home sellers are no longer responsible for paying both their own agent and the buyer’s agent.<\/p>\n

Put simply, the traditional 5%-6% commission<\/a> fee structure for agents has gone away. While the playing field may be a bit wobbly at first, experts believe buyers and sellers will benefit from the shakeup through lower Realtor fees and more innovative options.<\/p>\n

If you\u2019re shopping for a home<\/a>, you and your buyer\u2019s agent will be the first to experience the impact of this shift. One major change you\u2019ll notice right away is that your Realtor won\u2019t show you a house with just hope and a handshake. You\u2019ll need to sign some form of an agreement upfront.<\/p>\n

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How Much Is Your Home Worth Now?<\/h3>\n

Home values have rapidly increased in recent years. How much is your current home worth now? Get a ballpark estimate from HomeLight’s free Home Value Estimator.<\/p>\n \n

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Why agent commission rules changed<\/h2>\n

In late 2023, following a series of lawsuits, a federal court determined that the long-established commission structure and mandates used by the National Association of Realtors (NAR) infringed upon antitrust laws<\/a>. The old model essentially forced home sellers to pay a fee that could be paid by the buyer.<\/p>\n

In March 2024, as part of a $418 million settlement<\/a>, the NAR agreed to overhaul its rules, including decoupling seller and buyer agent compensations. The settlement put an end to mandatory commission fees and changed how listings are handled.<\/p>\n

NAR President Kevin Sears described the new real estate commission rules and regulations as part of the evolution of the industry. \u201cThese changes help to further empower consumers with clarity and choice when buying and selling a home,\u201d Sears said in a statement.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Two key changes homebuyers and sellers need to know about new real estate commission rules and regulations. See how the NAR settlement impacts you.<\/p>\n","protected":false},"author":298,"featured_media":46993,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[192,654,697],"tags":[],"class_list":["post-46992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-buyers","category-homeownership","category-market-news"],"acf":[],"yoast_head":"\n2 Big Changes in Real Estate Commission Rules and Regulations<\/title>\n<meta name=\"description\" content=\"Two key changes homebuyers and sellers need to know about new real estate commission rules and regulations. See how the NAR settlement impacts you.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.homelight.com\/blog\/buyer-real-estate-commission-rules-and-regulations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2 Key Changes in Real Estate Commission and Buyer Rules\" \/>\n<meta property=\"og:description\" content=\"Two key changes homebuyers and sellers need to know about new real estate commission rules and regulations. 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