Should You Wait Until Summer? The Impact Of The Upcoming Realtor Settlement

The National Association of Realtors recently reached a $418 million Realtor settlement that could go into effect as early as July and dramatically change how home sellers pay commissions. By dropping the long-standing 6% standard commission, the settlement seeks to give sellers more leverage to negotiate lower fees. But with big savings potentially on the line, many wonder if it’s better to wait until after the changes kick in to list their home.

Realtor Bob Johnson, a 20-year industry veteran, says the timing decision depends on each seller’s unique situation. “For some, waiting could mean thousands more in their pocket. But there’s also risk that comes with waiting, like missing out on the hot spring homebuying season.” Other factors to consider include one’s moving timeline and the local housing market. Realtor Johnson advises weighing these important factors before making such an impactful choice.

A New Report Details

A recent analysis found nearly half of home sellers could save over $2,000 if they listed after the Realtor settlement takes effect. While spring remains a popular homebuying time, the unknown effects of the changes leave uncertainty. Realtor Johnson said “I always tell sellers to make the best choice for their family. My job is to give them all the facts to do that.” With many moving parts in play, the decision requires careful consideration of both financial and practical implications.

In the end, there may be no one-size-fits-all answer. But for those willing to wait a few more months, the savings from the Realtor settlement could provide a nice windfall. As the July deadline nears, experts will continue analyzing the settlement’s impact and helping guide homeowners toward the option best suiting their unique home selling goals and timeline.