The recent settlement allows consumers to negotiate commission fees directly, a transformative shift from the traditional practice where sellers paid agents' commissions, controlling buyer interactions.
Under the new rules, buyers must sign agreements detailing agent payments, moving the financial responsibility to buyers, although negotiation with sellers for contributions remains an option.
The changes to commission structures are already influencing the market, with initial reports indicating that average commissions have started to decrease as buyers leverage their new negotiating power.
The buyer's agent relationship has changed substantially due to the settlement, leading to a more transparent system where fees are openly discussed, moving away from old practices.
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