How buyers and sellers are navigating real estate's seismic shakeup

When a homeowner in the US sold her property earlier this year, she decided to take a different approach to save on real estate commissions. This move came ahead of changes implemented in August by the National Association of Realtors (NAR), which could potentially lead to increased price competition in the industry. The homeowner, a content creator from Kentucky, chose to sell her home without a full-service realtor, pocketing extra cash by paying a broker a small fee to list her home on the local MLS. The changes by NAR aim to prevent sellers and agents from advertising the commission they would pay to a buyer’s agent. These changes were prompted by a series of antitrust lawsuits filed against NAR. In addition, the new rules require buyers to sign representation agreements with a realtor before viewing homes. However, experts caution buyers to carefully review these agreements. Some worry that in competitive markets, buyers may have to pay their agents out-of-pocket, adding to the already substantial closing costs when purchasing a home.