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recent court ruling against the National Association of Realtors (NAR) was expected to revolutionize how Americans buy and sell homes. The settlement imposed new rules to prevent real-estate agents from unfairly taking more money from home sellers. However, it's unclear if this will lead people to forego using traditional agents altogether or simply negotiate lower commissions.
According to data from NAR, 86% of homebuyers in 2024 used an agent's services. Some early indications suggest that commissions may be falling, but Redfin found no significant change since the new rules took effect. Four individuals who bought or sold homes without traditional agents shared their experiences.
For Chelsea Hutchison, selling her Oregon home to Opendoor was a priority due to its speed and convenience. She paid $26,750 in service fees compared to the estimated $32,100 she would have paid with a traditional agent. Melissa Gonzales-Szott also sold her Las Vegas house to Opendoor for $448,500, which she considered a fair price after researching market values.
Josh Altman's company, Redy, allows home sellers to post their properties and agents compete for the listing. Kenneth Bloom used Redy to sell two properties, saving nearly $10,000 on broker commissions compared to traditional agents. He also appreciated the time-saving aspect of having agents reach out to him instead of doing research himself.
Sergio Rodriguez, a California-based real-estate investor, paid a flat fee rather than a percentage commission using TurboHome's homebuying service. He saved an estimated $40,000 by avoiding traditional agent commissions and closed the deal in 24 hours.
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