Diane Dickson Realty

NAR Chief Economist Lawrence Yun reacts to the latest Consumer Price Index (CPI) showing consumer prices rose 2.9% in July.

Who pays the real estate commission and closing costs: the homebuyer or the seller?

A recent settlement by the National Association of Realtors® (NAR), effective Aug. 17, has led to changes in broker commissions. This settlement includes revisions to how real estate commissions are disclosed and negotiated, aiming to increase transparency and fairness for homebuyers and sellers.

In the past, sellers typically paid both the buyer’s and seller’s agent fees. As of Aug. 17, buyers are now responsible for compensating their agent. However, as a seller, you still have the option to offer compensation to the buyer’s broker.

📕 Learn more about real estate agent commissions, and key points to consider when negotiating real estate commissions: https://rltor.cm/xdd2gb

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