"I do not see much changing going forward for the vast majority of real estate transactions."

I do. The below is from Keller Williams (friend works there). There is panic in the disco for sure among Agents. Many will drop out. There are far too many today in the US.

My view is listing Agents will get a commission. Far fewer people will use a buyer's agent.


"Buyer Representation Agreements Required. Agents working with buyers must sign a written buyer representation agreement with the buyer before the agent can show a home listed on an MLS.

Unless inconsistent with federal or state law, the buyer representation agreement must include at least these things:

1) Agents must disclose the amount or rate of compensation they will receive or how this amount will be determined.

2) The amount of compensation must be set in the agreement, such as a percentage or dollar amount, and cannot be open-ended. For example, the agreement cannot say, “buyer broker compensation shall be whatever amount the seller is offering to the buyer.”

3) Agents cannot receive compensation for brokerage services from any source more than the amount or rate agreed to in the buyer representation agreement. For example, an agent could not accept an offer of cooperative compensation for more than the amount or rate agreed to in the buyer representation agreement.

Offers of Cooperative Compensation Cannot Be Made On the MLS.

1) Agents cannot make offers of cooperative compensation on the MLS. MLSs must eliminate all broker compensation fields on the MLS and prohibit the sharing of offers of cooperative compensation in any other MLS field. NAR (and any MLSs released under the settlement) also cannot create or support any non-MLS mechanism (such as an internet aggregator’s website) for sellers or listing agents to make offers of cooperative compensation to buyer agents.