In the aftermath of the recent legal settlement calling for the National Association of Realtors to amend its rules on how Realtors are compensated for a home sale, many home buyers and sellers across the United States are wondering how the changes will affect them.
That’s especially true in New York City, where most real estate agents are not affiliated with N.A.R., but instead with the Real Estate Board of New York (REBNY), the local industry trade group. Earlier this year, REBNY amended its own rules regarding real estate agent compensation: The offer to compensate the buyer’s agent can no longer come from the seller’s agent, but directly from the sellers themselves. And the buyer’s agent can now negotiate that offer.
The New York Times Real Estate section is working to better understand how consumers in the housing market are being impacted by these new changes. To do this, we want to hear from New Yorkers who are currently in the process of selling a home, and using the services of a real estate agent to do so.
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