This headline appears to be referring to a legal settlement that potentially impacts home buyers who are utilizing the services of a realtor. Broker commissions, which can be as high as 6%, are typically wrapped into the sale price of a home, and thus indirectly paid by the home buyer.
In this settlement, it seems that home buyers may no longer be responsible for these commissions, potentially saving them considerable amounts of money during the home buying process. This could shift the cost to the sellers, who contract with real estate agents/brokers, or lead to a new model entirely. While this news could be seen as a victory for home buyers, the specific details and implications of the settlement would depend on the specific terms agreed upon.
Home buyers to be spared broker commissions up to 6% under Realtor group settlement
This headline appears to be referring to a legal settlement that potentially impacts home buyers who are utilizing the services of a realtor. Broker commissions, which can be as high as 6%, are typically wrapped into the sale price of a home, and thus indirectly paid by the home buyer.
In this settlement, it seems that home buyers may no longer be responsible for these commissions, potentially saving them considerable amounts of money during the home buying process. This could shift the cost to the sellers, who contract with real estate agents/brokers, or lead to a new model entirely. While this news could be seen as a victory for home buyers, the specific details and implications of the settlement would depend on the specific terms agreed upon.
