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Big Changes in Real Estate Commissions! What You Need to Know

By
Real Estate Agent with NextHome Tidewater Realty 0225181163

The real estate landscape is on the brink of transformation with significant commission changes imminent. In our latest video below, "Understanding Real Estate Commission Changes: What Buyers and Sellers Need to Know," experts delve into the impact of these shifts starting August 2024.

Join Robin Gauthier from NextHome Tidewater Realty as she uncovers what these changes mean alongside experts Melinda Swager and Alicia Rivas. Discover how these alterations will alter the buying and selling processes.

 Impact on Buyers

Melinda Swager highlights the shift where buyers may shoulder agent commissions directly, enhancing transparency but posing new challenges. Learn how this change empowers buyers to negotiate while potentially affecting accessibility for certain buyer demographics.

Impact on Sellers

Alicia Rivas discusses how sellers can benefit from reduced costs but must navigate new strategies to appeal to buyers now factoring in agent commissions. The absence of buyer representation may increase legal risks, highlighting the need for expert guidance.

Want the full scoop? Watch the video for a deep dive into the evolving world of real estate commissions. Don't just read about it—see it in action!

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Mike McCann Nebraska Land Broker
Mike McCann - Broker, Mach1 Realty Farm & Commercial Land Broker-Auctioneer Serving Nebraska - Kearney, NE
Farm & Commercial Property For Sale 308-627-3700

Hi Robin Gauthier Our company in Nebraska is operating as usual and have no plans on changing our method of professional reimbursement for our expertise and time.  We will wait and let the Nebraska Real Estate Commission give guidance on how to operate and that has not happened. 

Good Luck in whatever is going to be required where you are!  Our industry will survive in my opinion...maybe not NAR...but you can be successful without them.  None of my agents have ever been a member of NAR and I have not been for over 10 years and we are quite successful.  

Happy first afternoon of Summer!  Mike

Jun 20, 2024 08:39 AM
Robin Gauthier

Thank you for your insight.  We will definitely survive.  There will be some positives from this.  We have been operating as usual as well.  We have always required a buyer broker be signed.  In August the commission offered to the buyer's agent will no longer be displayed on the MLS per the NAR settlement.  

Jun 20, 2024 08:43 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Robin and thank you for the you tube video to share with us.  It will be interesting after Aug. 15.

Jun 20, 2024 09:04 AM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Robin Gauthier the new changes are going to produce some challenges, but this industry has had major challenges in the past and gotten through them and will do so again.

Jun 20, 2024 10:14 AM