The standard 6% fee for property transactions has been scrapped following a landmark settlement. This decision is set to radically alter the real estate market, as the old model—in which sellers compensate both their listing agent and the buyer’s representative—has long been criticized for unnecessarily driving up housing prices.
hey, im thinkin this change might offer sellers a breather but leaves agent roles kinda uncertain. seems like a shift not a clean fix tho, im curious to see how fast the market adapts.
The removal of the standard 6% commission introduces a new dynamic in real estate dealings. From my experience, this change is likely to promote transparency by compelling agents to demonstrate clear value. In previous transactions, fees sometimes masked a lack of measurable effort. Now, sellers must be more discerning in selecting their representatives, which could foster better performance. However, uncertainty remains around how agents will adapt their strategies to remain competitive while ensuring that quality service is not compromised. Overall, the evolution of commission models appears to be a promising reform.