Name: New Home-Buying Rules to Disrupt Appraisal Industry, Change Who Realtors Do Business With: Author
Uploaded: 2024-08-17T02:36:00.000Z
Description: New rules for homebuyers will come into effect on Saturday. Until now, the seller had to pay the realtor's commission, which was commonly around 5 percent. Then the buyer's and seller's agents would split it. Now, however, before even visiting the property, the buyer will have to agree to pay a commission if the seller doesn't pay it.

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New rules for homebuyers will come into effect on Saturday. Until now, the seller had to pay the realtor's commission, which was commonly around 5 percent. Then the buyer's and seller's agents would split it. Now, however, before even visiting the property, the buyer will have to agree to pay a commission if the seller doesn't pay it.

NTD discussed the change with Anna DeSimone, the author of “Closing the Gap in Homeownership: Re-writing the Rules Against Mortgage Discrimination,” who says these new rules will disrupt the appraisal industry and change who realtors do business with.

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