Real Estate Industry Faces Major Overhaul with New Commission Rules

Changes to Realtor compensation structures set to take effect, impacting homebuyers and sellers nationwide.

New rules require buyers to negotiate and sign contracts with agents separately.
Sellers no longer automatically responsible for both sides' commissions.
Potential financial strain on buyers, especially first-time and lower-income purchasers.
Industry experts predict initial confusion and adjustment period.
Settlement follows lawsuits alleging anti-competitive practices in commission structures.