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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I wonder if the spring/early summer housing market will seize up now that sellers will know they can save money by waiting until July. [/quote]

The industry practices will have to change, but the settlement, if approved, won’t necessarily get rid of commission sharing. The buyer agent promised commission  just cannot be promised through the MLS platform anymore. It can and likely will take place off-platform in some new shape or form.

Per the local MLS:
“ What’s changing (late this year, if the settlement is approved):

While MLS subscribers will continue to be able to offer to share their compensation with a buyer’s broker, no longer would that be allowed in the MLS (effective July 2024). Instead, those offers of compensation could still be made, albeit only through separate negotiation, as needed (like commercial brokers do today).
And a new option will be added: A seller's agent will be able to enter into the MLS whether and what their seller client is willing to offer as a concession in the price, such as “$x towards a new roof and x% towards closing costs.”
MLS subscribers WILL NOT be allowed to put a specific amount of buyer-broker compensation in the concession field. More to come on this point in the coming weeks.”[/quote]

If agents just end up with the same scheme we have now, just not formalized through the MLS, the NAR will be back in court. It's not that easy to circumvent antitrust law.[/quote]

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