Navigating Real Estate Commission Changes: Impacts, Strategies, and Future Trends
Key Points
- Real estate brokerages are now encouraging clients to negotiate lower commissions, marking a significant industry shift towards consumer empowerment.
- New rules coming into effect on August 17, 2024, aim to provide more negotiation power to consumers, potentially lowering both commissions and home prices.
- Lower commission rates may increase transaction volumes and attract more buyers, but home prices will still largely be determined by demand and supply factors.
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Transcript
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