Good news for Americans wanting to sell their homes or buy a new one - no more 6% commission. [This is not good news for realtors.]

"For decades, Americans have paid a standard commission of around 6% when selling a home, split between the seller’s broker and the buyer’s broker. ... After the [recent antitrust] settlement [against NAR], those commissions will be fully competitive, meaning brokers can advertise their rates to prospective sellers, and people can shop around for bargains.

Real estate commissions are expected to fall between 25% and 50% because of the new rules, according to TD Cowen Insights."

If you google "Flat fee MLS" for your state, you're likely to see brokers like Houzeo offering a flat fee as low as $395 to sell your house. I'm not endorsing them, BTW,

Looks like the expenses and processes related to buying or selling a house in the US are about to change dramatically.

https://www.cnn.com/2024/03/18/investing/nar-realt...

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