Skip to Content

Are you a homebuyer or seller affected by the upcoming NAR settlement changes?

By Samantha Delouya, CNN

(CNN) — This month, the rules in residential real estate are changing. The National Association of Realtors said the changes included in a settlement to end antitrust legal claims officially take effect nationwide on August 17.

The changes overhaul the informal guidelines that often led to homesellers paying a commission of 5% or 6%, which was generally shared between an agent representing the buyer and an agent representing the seller. Agents working with a buyer must now enter into a written buyer agreement specifying their compensation before touring a property.

The rules could fundamentally change the way Americans buy and sell homes. Do you have plans to buy or sell a home in the near future? If so, we’d like to hear from you as to how the changes may affect you.

The-CNN-Wire
™ & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.

Article Topic Follows: CNN - Business/Consumer

Jump to comments ↓

CNN Newsource

BE PART OF THE CONVERSATION

ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content