"Real Estate Industry Faces Major Disruption in CNY as Sellers Push Back Against Commissions"
TL;DR
The National Association of Realtors has settled a $418 million lawsuit, leading to changes in commission policies for real estate transactions, giving homebuyers more power to negotiate costs. Buyers and sellers will now have to enter into a contract with their realtor and negotiate commission rates before viewing a home, with the option to decide who pays the fee. Despite these changes, the housing inventory remains low in Central New York, prompting efforts to address the city's housing challenges and create more affordable housing options.
Topics:businessreal-estate#commission-rates#housing-inventory#lawsuit-settlement#national-association-of-realtors#real-estate#syracuse
- Buying and selling homes is about to change in CNY CNYcentral.com
- How the real estate settlement changes buying and selling a home NPR
- These home sellers don’t want to pay 6% commissions — so they’re pushing back MarketWatch
- Realtors are nervous: ‘It could be the worst thing ever’ CNN
- Real-Estate Broker Compass Agrees to Pay $57.5 Million to Settle Antitrust Claims The Wall Street Journal
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