7605 Ogg Rd, Knoxville
Real estate pro says don't believe National Association of Realtors settlement myths
National Association of Realtors settlement
1. The settlement forces brokers to reduce their compensation. False.
2. The settlement will, for the first time, allow sellers to no longer pay compensation for an agent bringing the buyer. False.
3. The settlement prohibits sellers from paying a commission to a buyer’s agent and relieves sellers of the financial burden. False.
4. The settlement will serve to lower prices and make homeownership affordable again meaningfully. False.
5. The settlement is a win for buyers who will now be able to negotiate the fee for representation. Questionable.
6. The settlement will result in significant restitution to consumers who were “harmed” over recent years in their transactions by Realtors. False.