Whether its from government intervention or tech innovation the way realtors have typically made a living are about to change. Some of the changes that have been proposed are small and relatively unimportant. A rule that was enacted across the board was that buyers agents could no longer advertise that there services were “free” and that agents could no longer “not” show a property due to the low co-op fee. Those seem pretty reasonable and were enacted by most MLS’s across the nation.
At the heart of the REX initiated DOJ antitrust lawsuit that seems to be most confusing is that they are arguing that buyers should pay for their own agents services and the seller should pay for their agent. This may benefit a company like REX but, it seems like it would create a larger barrier to first time homebuyers and stifle the overall market. Today we discuss.
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