15 de May de 2025
How much is the real estate agent’s commission and who pays it?
As of August 17, 2024, the U.S. real estate market has undergone a significant transformation in its agent commission structure. This change stems from a historic $418 million settlement reached by the National Association of Realtors (NAR) in response to lawsuits challenging traditionally high commissions, which were typically set between 5% and 6% of a property’s sales price. Key Changes to the Commission Structure
1. More Flexible Payment Responsibility
Before this reform, it was common for sellers of a property to cover the commissions of both agents: their own and the buyer’s. However, sellers now have the option to pay only their own agent. If they wish, they can also negotiate payment for the buyer’s agent, but this is no longer required. This flexibility opens the door to different agreements, where the seller can adjust costs depending on the negotiation with the buyer.
2. Written agreements with buyers
A fundamental change is that agents representing buyers must sign a written agreement before beginning to show properties. This contract must clearly inform buyers of their responsibility to pay their agent in the event that the seller does not assume that cost. This offers greater transparency from the outset, eliminating misunderstandings during the transaction.
3. Potential Commission Reduction
These changes could lead to a reduction of up to 30% in real estate commissions, as the elimination of the standard 6% fee could force agents to compete more intensely for clients. This not only represents a change in agents’ pockets, but could also translate into more affordable housing prices, which would benefit buyers. Impact on the
Before this reform, it was common for sellers of a property to cover the commissions of both agents: their own and the buyer’s. However, sellers now have the option to pay only their own agent. If they wish, they can also negotiate payment for the buyer’s agent, but this is no longer required. This flexibility opens the door to different agreements, where the seller can adjust costs depending on the negotiation with the buyer.
2. Written agreements with buyers
A fundamental change is that agents representing buyers must sign a written agreement before beginning to show properties. This contract must clearly inform buyers of their responsibility to pay their agent in the event that the seller does not assume that cost. This offers greater transparency from the outset, eliminating misunderstandings during the transaction.
3. Potential Commission Reduction
These changes could lead to a reduction of up to 30% in real estate commissions, as the elimination of the standard 6% fee could force agents to compete more intensely for clients. This not only represents a change in agents’ pockets, but could also translate into more affordable housing prices, which would benefit buyers. Impact on the
Real Estate Market
These reforms not only affect commissions, but could also have significant repercussions on the real estate market in general.
1. Greater Transparency and Competition
The new model seeks to encourage competition among agents, which will likely lead to greater diversity in the fees and services offered. Buyers will now have a more active role in deciding whether they want to hire an agent and how they want to pay for those services, increasing transparency throughout the process.
These reforms not only affect commissions, but could also have significant repercussions on the real estate market in general.
1. Greater Transparency and Competition
The new model seeks to encourage competition among agents, which will likely lead to greater diversity in the fees and services offered. Buyers will now have a more active role in deciding whether they want to hire an agent and how they want to pay for those services, increasing transparency throughout the process.
2. Agents Adapting to Changing Times
While some agents may view these reforms as a challenge, others see them as an opportunity to reinvent their way of working. With commission reductions, some agents are expected to opt for more specialized services or more flexible business models, such as flat fees or commissions for à la carte services.
While some agents may view these reforms as a challenge, others see them as an opportunity to reinvent their way of working. With commission reductions, some agents are expected to opt for more specialized services or more flexible business models, such as flat fees or commissions for à la carte services.
Long-Term Implications
This change represents a significant shift in the dynamics of real estate transactions in the United States. Negotiations between buyers and sellers will no longer be subject to traditional commission rules, paving the way for new sales strategies, more competitive pricing, and greater contract clarity.
This change represents a significant shift in the dynamics of real estate transactions in the United States. Negotiations between buyers and sellers will no longer be subject to traditional commission rules, paving the way for new sales strategies, more competitive pricing, and greater contract clarity.
Furthermore, we are likely to see an increase in the number of foreign buyers interested in the U.S. market, due to the greater flexibility and reduced costs in the property acquisition process. In short, the new flat-fee law for real estate agents marks the beginning of a new era in the U.S. real estate industry. Both buyers and sellers will need to pay attention to how commission practices evolve and adapt to a market that prioritizes flexibility, competition, and transparency.
