Tektonic US Real Estate Agent Commission Changes: Buyer and Seller fees explained

US Real Estate Agent July 2024 Commission Changes

Following a pivotal antitrust lawsuit settlement, the landscape of US real estate agent commission, specifically how much commission do realtors (estate agents) make and the negotiation of estate agent fees, is undergoing significant changes that are slated to occur in July 2024. The National Association of Realtors (NAR) has implemented new rules that modify the traditional commission fee structure, marking an end to the advertising of commission as a guaranteed percentage rate on the Multiple Listing Service (MLS) [1]. This move directly influences both the property buying and selling process by altering how much do real estate agents make per sale, fostering a scenario ripe for negotiation and potentially reducing transaction costs for buyers and sellers.