CoStar News
Summary: The residential real estate industry is quickly adapting to new compensation rules, which have disrupted traditional practices. These changes, stemming from a legal settlement, require buyer brokers to have signed agreements with clients and prohibit listing agents from advertising buyer broker compensation on the MLS. This shift has led to increased communication challenges and a more complex negotiation process. While some brokers find the transition difficult, many see potential benefits, including greater transparency, consumer choice, and opportunities for agents to demonstrate their value. Despite initial hurdles, industry leaders believe the new rules will ultimately lead to a more competitive and professional market.