NAR plans to end buyer agent compensation rule
Financial Times — April 1, 2024, 03:00 PM UTC
Summary: A seismic shift in the real estate industry is imminent as the National Association of Realtors plans to eliminate a rule requiring sellers to compensate buyers' agents. This move could reduce annual real estate fees by up to 30%, potentially driving down commission rates and forcing many agents out of the market. Companies like Zillow and Redfin have already seen stock declines amid uncertainty. Buyers may need to pay their brokers directly, impacting firms like Compass the most.
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