Nine Four Ventures reposted this
The real estate rules are changing on August 17th, as the NAR settlement policy changes kick into effect. Nine Four Ventures's Kurt Ramirez breaks down the changes - and their impacts - in today's Thesis Driven. Notably, August 17th markets the end of the “cooperative compensation” structure in which buyers' agents are offered compensation by listing agents via the MLS. This means buyers' agents must find another way to get paid, and nobody is quite sure what that will look like. This is happening at a time when agents are increasingly under pressure from technology as well as relatively low transaction volume. It seems likely that added commission pressure will drive some of the 1.6 million licensed agents out of the business, particularly the part-timers and hobbyists. Full analysis in today's Thesis Driven linked in the comments!