Several family members are realtors. I'm not sure I completely understand the new rules set to take place in July this year. How I understand it:
Selling agents can no longer set their commission, it's a negotiation between agent and seller that excludes the buyer. The buyer's agent is paid based on a negotiation between the buyer and the agent. There is no longer a direct relationship between the buyer's agent and the seller's agent.
The 6% is no longer an agreed-upon commission. It's whatever the buyer and seller decide to pay. I'm not sure where MLS comes into play. I understood MLS was supported by real estate companies. Maybe there will be more for sale by owners? How will your property get advertised?
Selling agents can no longer set their commission, it's a negotiation between agent and seller that excludes the buyer. The buyer's agent is paid based on a negotiation between the buyer and the agent. There is no longer a direct relationship between the buyer's agent and the seller's agent.
The 6% is no longer an agreed-upon commission. It's whatever the buyer and seller decide to pay. I'm not sure where MLS comes into play. I understood MLS was supported by real estate companies. Maybe there will be more for sale by owners? How will your property get advertised?