Starting August 17, new rules will roll out that overhaul the way Realtors get paid to help people buy and sell their homes.
This could pave the way for real estate companies with alternative business models, like flat-fee and discount brokerages, to thrive.
Redy, which operates nationwide, is a marketplace that allows real estate agents to bid on home listings, meaning agents could pay homesellers for the opportunity to represent them, cutting into their own commissions.
“This is part of this notion of shifting how real estate is always done,” Cofini said.
“Consumers don’t know this is coming,” Flyhomes’ chief strategy officer, Adam Hopson, said of the NAR changes.
Persons:
Leo Pareja, Kevin Sears, ” Sears, “, Mary Schumann, ” Schumann, TD Cowen, Shelly Cofini, ” Cofini, Flyhomes, Adam Hopson, Will, Madison Mathias, Mathias, I’ve, “ I’m
Organizations:
CNN — Realtors, Realtors, National Association of Realtors, eXp Realty, NAR, ”, CNN
Locations:
theory, Minnesota, Chapin , South Carolina