The article “Buying a house just got trickier” discusses significant changes in the real estate market that will affect homebuyers. Effective immediately, buyers are now responsible for paying their real estate agents, a shift from the traditional practice where sellers covered these costs. This change aims to enhance transparency and empower buyers by requiring them to negotiate their agent’s compensation directly.

Previously, buyers’ agents were typically paid by sellers, with commissions ranging from 5% to 6% of the sale price. Now, buyers must enter into detailed agreements with their agents before beginning their home search. This new financial burden may be particularly challenging for first-time buyers.

While the National Association of Realtors (NAR) settlement does not prohibit sellers from contributing to buyer’s agent commissions, it restricts advertising these costs on the Realtor property listing database. This means that buyers must negotiate with sellers to cover some or all of these costs. The shift may lead to more thorough research by buyers and potentially eliminate less reputable agents. Experienced buyers may negotiate better arrangements tailored to their needs, while novice buyers may prefer traditional compensation structures.