How the cost of homebuying and selling will change
How the cost of homebuying and selling will change after landmark court loss over real estate commissions
Market Trends
KEY POINTS
The recent $1.8 billion jury verdict against the National Association of Realtors and several top brokerage firms highlights mounting legal and market pressures on real estate commissions.A recent Keefe, Bruyette & Woods analyst report estimated that the $100 billion paid in real-estate commissions annually could be cut by 30%, with as many as 1.6 million agents losing their source of income.Commissions are already negotiable, but buyers agents are likely losers as homebuyers are more likely to bypass them, or in the least, negotiate for lower fees.
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