Thanks to a recent court settlement, the real estate industry is teetering on the edge of a significant transformation. This change is poised to revolutionize how real estate commissions are handled, potentially shifting the balance of power from realtors to homebuyers. This development has sent shockwaves through the industry, as evidenced by the 15% drop in Zillow’s stock following the announcement.
The impact on realtors
The court settlement is anticipated to impact real estate agents and brokers profoundly. Traditionally, realtors have been the primary beneficiaries of the commission-based system, often earning substantial sums from property transactions. For instance, when purchasing a house five years ago, the buyer found the property on
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