A benefit to buyers and sellers?

The National Association of Realtors has agreed to ban MLS listings from including a compensation offer (typically 2.5% to 3%) for the buyer’s agent in a real estate transaction. Since this is almost always built into the asking price, it should mean listings will be slightly lower, which can only help the housing market.

Buyers will have to pay for their own agent representation. but will now be able to negotiate the rate.

If approved, the new law will go into effect in July.

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