August 14, 2024
They’re calling it the biggest change in years – a “seismic shift” in the way that realtors do business. New rules rolling out as part of a big settlement by the National Association of Realtors. What’s this going to mean for you if you want to buy or sell a house? “There’s still a lot of uncertainty about how this will all play out. Previously, when you contracted with an agent to sell a house, there were certain provisions in that agreement and, in particular, the big change is coming with respect to the buyer’s agent. … The upshot is that the buyer has to sign a separate buyer’s agreement with their agent in order for the buyer’s agent to get compensated,” says Ed Coulson, professor of economics and director of the Center for Real Estate at UC Irvine’s Paul Merage School of Business.
Associate Director of Communications
jrotheku@uci.edu