Changes from a landmark settlement affecting broker commissions from America's largest real estate trade association take effect this weekend, potentially creating a more complex and uncertain buying process for consumers, according to industry experts. The changes made under the National Association of Realtors' $418 million settlement, announced in March, "adds more uncertainty and unknowns to an already stressful and pressured industry," Phil Crescenzo Jr.
REAL ESTATE MOGUL CAUTIONS ABOUT AVOIDABLE MISTAKE WHEN BUYING A HOME, EXPLAINS HOW TO AVOID 'DROWNING' Given that these commission fees were and still are negotiable between both sides, it does not directly change how much Realtors earn, according to Crescenzo Jr. And because the changes take effect Saturday, Crescenzo Jr. noted that the actual impact on what this will do to the market and how agents and firms will process transactions going forward, has yet to be seen.
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