Virginia Realtors

Huge changes to Realtors’ commission structures may disadvantage VA buyers, at least in the short term. A $418 million settlement announced by the National Association of Realtors last week is set to have sweeping implications for the housing industry in general. If approved by a federal judge, it would undo NAR’s commission structure, which is typically between 5.5% and 6% and split between buyer’s and seller’s agents. Under the terms of the settlement, moving forward sellers will be expected to negotiate with real estate professionals, and buyers will have to enter into agreements with, and pay for, their own realtors. For some buyers, this may translate into a cheaper overall experience, depending on what is negotiated for as part of…