B
uying or selling a home is complicated enough, and now there are new changes to the process. Recently, the National Association of Realtors settled a class-action lawsuit over how agents' commissions are calculated, leading to significant changes in real estate transactions. Aprile Osborne from Call It Closed International Realty joined ABC7 to help make sense of these new rules.

    There are two key changes: properties listed in the Multiple Listing Service (MLS) database no longer include offers of compensation to buyer's agents. Sellers used to pay both buyer and seller agent commissions, typically a 5-6% split. Now, sellers only pay their own agent commission, such as $25,000 or $30,000 on a $1 million home. Sellers can still offer to pay for both commissions, but it's now part of negotiations.

    Another change requires homebuyers to sign a written agreement with an agent before touring any homes. For more information, visit CallItClosed.com or call Aprile at 239-220-8607.