M
ary Anne Bryan is preparing to sell her 3-bedroom brick Colonial in Chicago's Beverly neighborhood, where she raised her daughter. As a former real estate agent with over a decade of experience, Bryan is keenly aware of the recent changes in the industry due to lawsuits over buyer's agent commissions. She plans to handle some of the work herself to save on commission fees, but faces uncertainty about how to navigate the process.

    The Missouri jury ruling in 2023 led to new rules changing the way commissions are set and communicated. This has opened up opportunities for homeowners to sell their properties without a traditional real estate agent, known as For Sale By Owner (FSBO). Victor Lund, managing partner of WAV Group, notes that the FSBO market has changed significantly since the removal of the offer of compensation requirement from the Multiple Listing Service.

    Ena Koellish, founder of The K Group Real Estate in Kentucky, sees this shift as an opportunity to educate consumers on their options. She creates online videos explaining the selling process and advocates for a "package" of services offered by listing agents, with the option to pay individually for selected services. Lund cautions that while some homeowners may be able to navigate the process alone, many will need professional help.

    The new rules have also led to the creation of online marketplaces like Homepie, which aims to connect buyers and sellers with services to facilitate transactions. Mary Anne Bryan worries that many people will try to FSBO without understanding the implications, but sees opportunities for a more efficient system where homeowners can choose "a la carte" services.