Now, a landmark settlement with the National Association of Realtors is poised to upend this model.
According to consumer advocates, and even some Realtors, it's a win for homebuyers and sellers.
And in the months following Covid-19 pandemic reopenings, the hottest U.S. real estate markets were tipped squarely in favor of sellers.
It's the same amount of money, but now the buyer gets money instead of a buyer agent, and they can decide what to do with it."
What's more, greater competition for clients is likely to result in lower costs across the board, said Ryan Tomasello, a real estate industry analyst with the Keefe, Bruyette & Woods financial firm.
Persons:
it's, Mariya Letdin, Letdin, they'll, Doug Miller, Miller, Ryan Tomasello, Keefe, Tomasello, Phil Crescenzo Jr, Crescenzo
Organizations:
National Association of Realtors, Realtors, homebuyers, Florida State University's College of Business, NBC News, U.S, NAR, Nation One Mortgage Corp
Locations:
Alhambra , California, Minnesota, Woods