New realty commission agreement could save home buyers thousands, boosting competition
An agreement to lower realty commission fees could save the average home buyer thousands of dollars. The National Association of Realtors (NAR) has agreed to lower realty commission fees, potentially saving the average home buyer thousands of dollars. The agreement includes requiring realtors and buyers to sign pre-sale agreements, allowing negotiated commission rates, and paying $418 million to home sellers. The average American home buyer spends roughly 5-6% on commission fees to the realtor and broker. This change has not caused concern among local realtor groups, with one leader stating it is business as usual.
ที่ตีพิมพ์ : 2 เดือนที่แล้ว โดย Harrison Parker, https://www.facebook.com/kfoxtv ใน Finance
An agreement to lower realty commission fees could save the average home buyer thousands of dollars.
The National Association of Realtors (NAR) -which represents nearly 90% of realtors nationwide - agreed to require realtors and buyers to sign pre-sale agreements, allow negotiated commission rates, and pay $418 million to home sellers. One economist told KFOX14 the news could be lucrative.
The average American home buyer spends roughly 5-6% on commission fees to the realtor and broker.
The agreement could see a dramatic fall in commissions.
This change has not worried local realtors, according to one leader.
"What it means today, tomorrow and 10 years from now it's business as usual," Shy Rodriguez, President of the Greater El Paso Association of Realtors (GEPAR) told KFOX14. "There should be no concern on her for realtors, and of course our Realtors. They respond to their brokers so their brokers will be the ones to visit with them on anything."
Another GEPAR spokesperson refuted questions about the fairness of one group dictating real estate nationally.
"This is America," Ernesto Garcia, Communications & Marketing Director for GEPAR said. "This is business as usual."
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หัวข้อ: Real Estate, Markets