A recent court ruling regarding real estate commissions has transformed how home sellers can compensate their agents. The National Association of Realtors settled lawsuits that led to new rules offering sellers flexibility, moving away from the traditional 5-6% commission rate. While this suggests potential savings for sellers, many brokerages continue to find ways to maintain high commissions. Despite the ruling, home sellers’ options expand with startups like Galleon and Listwise, yet traditional practices remain dominant, with few making significant changes so far.
Last year, a landmark court decision rocked the real estate world. The National Association of Realtors settled multiple class-action lawsuits over claims that its practices unfairly drove up commissions for both homebuyers and sellers.
As a result of the settlement, buyers may be more likely to have to cover their broker's fee themselves. In reality, not much has changed so far.
Startups have long tried to challenge the traditional model of buying and selling homes and its reliance on real estate agents. The court settlement gives their missions new relevance.
Listwise allows sellers to put out a call for their dream agent, including the level of experience they desire and their ideal commission structure.
Collection
[
|
...
]