April 25, 2024
Posted By Rachel Cherem
Lower Real Estate Commissions and the Rise of Home Warranties
For years, homeowners and real estate professionals considered a 6% realtor’s commission as one of the standard expenses associated with selling a home. That’s no longer the case as of the March 2024 ruling. In legal proceedings that have broad implications for the real estate industry nationwide, the National Association of Realtors agreed to a settlement that includes more than $400 million in damages and significant changes to rules and guidelines on real estate agent commissions.