Scott EmpringhamAI Marketing Strategist | Helping CEOs Scale with AI

Upcoming Changes in Real Estate Fees #MarketEvolution

31 May 2024 · 1 min

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0:46

Short YouTube interview segment by Scott Empringham discussing potential shifts in real estate commission structures following a recent lawsuit. Speaker notes historical norms (2–3% per side, ~6% total), says commissions have been around 5% for about the last 20 years, and predicts possible further reductions, regional variability, and fewer buyer agents in the market.

Questions this video answers

2–3% per side (approximately 6% total paid by the seller).

About 5% total for probably the last 20 years.

Chapters

What changes you think are coming? Oh, I think with a recent lawsuit, the fee structure could be changing. And, you know, standard when I first got in the business was 2 or 3% per side, or total 6 the seller would pay. That's been down at 5% for probably the last 20 years. And I've said for a long time, I wouldn't be surprised that that might even diminish more. You know, it's tough to tell. You know, there's parts of the world and country and that fees are higher, fees are lower. So I think it's probably something that is going to streamline more. I think you're going to see a lot less of the buyer agent out there, and it's going to still continue. If you're a good farmer, you'll get those opportunities.