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Housing Market Sees Massive Shift: 'Very Disruptive'

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A recent settlement by the National Association of Realtors on commissions is set to disrupt the sector, experts say.

Recent rule changes over how real estate agents charge commissions are set to disrupt the real estate market, experts say, which could help bring down the cost of home purchases for buyers, help sellers save cash along the way, and bring down fees generated from home sales by billions of dollars.On Friday, the National Association of Realtors , which has more than 1.

'So, if you think about it on a $400,000 house, the consumers are going to say, 'Well, do I really want to spend $12,000 on a 3 percent buyer's agent fee and how much of that work can I do myself?' $12,000 is like the price of a used car,' Garg said.Buyers can pick and choose what they want to get from agents and negotiate fees that fit with the service they receive.

 

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