Kansas City Fears Real Estate Verdict Impact

Without delving into the legal drama . . . 

Here's what the antitrust decision really means: 

"The agreement effectively will destroy the current homebuying and selling business model, in which sellers pay both their broker and a buyer’s broker, which critics say have driven housing prices artificially higher."

And here's a peek at how it will play out locally . . .

“The people that I feel this is going to hurt the most, to be honest with you, are the low-income buyers,” said David Conderman, the broker/owner of Keller Williams, Kansas City Metro.

Conderman told KCTV5 he worries low-income buyers will have trouble finding a realtor who will work with them because they have less bargaining power than everyone in the market.

Read more via www.TonysKansasCity.com link . . .

Local broker fears low-income buyers will be negatively impacted by new real estate rules

The standard 6% commission when selling a home is likely done for.

The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement | CNN Business

The 6% commission, a standard in home purchase transactions, is no more.