The real estate industry is undergoing significant changes following a landmark $418 million settlement involving the National Association of Realtors (NAR) and several major brokerages. This settlement, which addresses long-standing issues related to real estate agent commissions, is expected to bring about greater price transparency and increased competition within the industry. However, opinions are divided on the potential impact of these changes. Some view it as a major victory that could lead to substantial savings for consumers by breaking what has been described as a 'Realtor cartel', potentially offering $100 billion in benefits over time. Others, including Moody's Analytics Chief Economist Mark Zandi, believe that while real estate commissions may decrease to 4%-5% over time, the actual savings for homebuyers might be less significant than anticipated. The settlement also forbids agents from setting their commissions via the Multiple Listing Service, a practice that has been criticized for lack of transparency. Amidst this backdrop, the President's FY25 budget proposes measures aimed at making home ownership more accessible, including a $10,000 tax credit for first-time homebuyers and initiatives to build and renovate over two million homes. The settlement's implications are being closely watched by over 1.5M realtors registered with the NAR.
Mark Zandi, Moody's Analytics Chief Economist thinks real estate commissions will come down over time: $RDFN $Z $OPEN -“I expect commissions to get bid down to 4% to 5% over time with variation by home price and geography,” Moody’s Analytics Chief Economist Mark Zandi said.…
Mark Zandi, Moody's Analytics Chief Economist thinks real estate commissions will come down over time: -“I expect commissions to get bid down to 4% to 5% over time with variation by home price and geography,” Moody’s Analytics Chief Economist Mark Zandi said. -“It’s a…
U.S. homebuyers expecting big savings after realtor settlement likely in for letdown: 'Everyone is turning this ruling into what they want it to be' via @pat_clark https://t.co/IKmPchMxzH
are realtors an endangered species? HUGE shakeup in the housing market last week. real estate agent commissions are a $100B annual business in the US, where there are over 1.5M realtors registered with the NAR. due to a $418M settlement by the national association of realtors,… https://t.co/UZoZZGl1cG
Homebuyers expecting big savings after realtor settlement likely in for letdown: "Everyone is turning this ruling into what they want it to be." https://t.co/CDiCdE4E8O
Homebuyers and sellers in America do not pay a fair price for commissions under the current approach. And a settlement agreed with a group of agents offers no guarantee that they will have such a chance in the future https://t.co/X8SlMrxJDv 👇
A landmark settlement with the National Association of Realtors is poised to bring "price transparency" and "increased competition" to the real estate industry , an associate professor at Florida State University says. https://t.co/7PKxeLErDO
Realtor commission change delivers a boon to homebuilders, a blow to real estate platforms https://t.co/Pe1lT0mnGP by @SeanaNSmith
US consumers expecting big savings after a class-action settlement on home-sales commissions may be in for a letdown https://t.co/cqQI0tQi5z
Why buying a home isn't likely to get much cheaper even under Biden's housing plan https://t.co/JFYJ726oQj
Opinion: ‘It’s always escaped me why people bother with real estate agents at all’: Commissions and fees, plus other letters to the editor for March 24 https://t.co/4txsoWFQ3B
If you're looking to finally buy a house this year, you might find the market as unyielding in 2024 as it has been for the past several years. Link: https://t.co/vaAAcxRB6a
A pricey housing market and higher interest rates have made it harder to afford a house, but related expenses known as closing costs also add to the challenge. (via @nytimes) https://t.co/k9lpCHyNV0
Confusion, chaos and misinformation are spreading like wildfire throughout the real estate world as the industry grapples with the potential fallout of a settlement concerning the National Association of Realtors and agent commissions. READ MORE: https://t.co/vlUwr5ho3e https://t.co/9DaRAggj1f
Celebrations over a settlement between agents and homeowners are premature. The Department of Justice would be wise to act to make the system fairer https://t.co/58SgW8O4Zg 👇
property rights onchain is not just saving $50bn for Americans every year, and simplifying trading homes for younger generations, but it may change the very fabric of the US banking system, and empower freedoms and capitalism in the rest of the world. Why? Listen to the last…
AGENT COMMISSIONS ---> It would be interesting to compile all the recent news articles and industry commentary into a time capsule Then, we could open it up in 5 years and compare it to what the housing market looks like in 2029 Right now it's a lot of speculation
#Fee4Savings: Clever said anything about #NARSettlement? How's it impact your company or other EXISTING moneysaving RE models? What happens to #BuyerRebate no longer controlled by brokerage but contingent upon negotiations OWNER's willingness to pay buyer NOT AGENT thru offer? https://t.co/fTGqCXUTlq
This is a great view of the real estate commission lawsuits and possible implications. Two nits: sellers were never “forced” to pay buyer commission. Tho that is how it generally worked Also: one potential big winner that Ben overlooked are the hedge fund home buyers. https://t.co/z7wYCsjMtj
Some ?s about the new commission model in real estate: Will more ppl move w/lower commissions? Will we see far fewer realtors? Will we get a fee war? Will we finally see tech firms help the housing mkt? Will housing prices fall? Some thoughts: https://t.co/YPQPRUzyvZ https://t.co/ERAj8VieaM
3 tips for homebuyers to navigate the new era of commissions https://t.co/jXKft5rSD7 by @RebeccaChenP
Use These 5 Home Buying Rules To Navigate The 2024 Real Estate Market https://t.co/db4G08lyVf
Commentary: Realtors’ association lawsuit changes nothing https://t.co/Ed56ZZzyIN https://t.co/84a4IxUYpw
"In the United States, nothing has been certain except death, taxes and the 6 percent real estate agent commission," the Editorial Board writes. "But after a legal settlement this month, the list might be down to two again." https://t.co/o1H90XcMDi https://t.co/FTYALEn9xx
This is a HUGE win! The process of buying & selling houses in the US is probably as egregious an example of special interest politics putting huge burdens on consumers as anything we have Breaking the Realtor cartel could have $100B in benefits over time https://t.co/A5UL5SqPy4
This is a HUGE win! The process of buying & selling housing in the US is probably as egregious an example of special interest politics putting huge burdens on consumers as anything we have Breaking the Realtor cartel could have $100B in benefits over time…
This is a HUGE win! The process of buying & selling a home in the US is probably as egregious an example of special interest politics putting huge burdens on consumers as anything we have Breaking the Realtor cartel could have $100B in benefits over time https://t.co/A5UL5SqPy4
Settlement notices related to multiple lawsuits against the National Association of Realtors and several major brokerages are legitimate. Here’s how to file a claim. https://t.co/Z052JpRtGb
The settlement forbids agents from setting their commissions via the Multiple Listing Service. https://t.co/9LkihgE7V6 via @reviewjournal
For years new home-buyers in America have enjoyed lower housing payments than renters. But today the choice between buying and renting looks very different. Read why https://t.co/mDhkJ8dPJu 👇
Nick Narodny, CEO of real estate marketplace Aalto—which is backed by Sequoia Capital—shares his take on where he thinks the industry goes next following the NAR proposed settlement 👇 https://t.co/chkkYsz6Ny https://t.co/ntM7kskD6F
Joe Biden created a housing crisis that has put the American dream of home ownership out of reach. AOC & the squad want to make it worse by making the government your permanent landlord. Count me as a NO on this Green New Deal nonsense. https://t.co/c6fO6gPOOu
"Americans will have to ask themselves something they should have asked decades ago: How much is a real estate agent worth to you?" The latest from @asymmetricinfo: https://t.co/fsPaLb62AQ
It’s not at all clear that a settlement agreed between agents and homeowners will bring about a Utopia of greater competition and lower commissions. The stakes are too high to accept a deal that protects brokers from future lawsuits https://t.co/lcHQLNTp2k 👇
Buying a home is more than just a place to live. It provides stability, builds strong communities, & is part of the American dream. Sadly, it’s too expensive for many so I’m working to lower costs to put homeownership back in reach for more Wisconsinites. https://t.co/b0vHxCUzOs
"I don’t want to pay a buyer’s agent"—homeowners are charged up after $418 million settlement, top real estate CEO says. https://t.co/YbR3ADpaka
Yes, real estate agent commission settlement notices are real https://t.co/KiApN25sK0
Buying a home is out of reach for far too many Americans. The President's FY25 budget would change that by: 🏘️Providing a $10,000 tax credit for first-time homebuyers 🏘️Cracking down on corporate actions that rip off renters 🏘️Building and renovating more than two million homes