70% Of Real Estate Agents Oppose NAR Settlement Changes

(MENAFN- PR Newswire) Stark differences emerge between Real estate agents and the public as both groups prepare for the biggest home-buying and -selling change in decades.

ST. LOUIS, June 11, 2024 /PRNewswire/ --
Although two-thirds of the general public (67%) support upcoming changes to real estate commissions, 70% of real estate agents oppose them, according to a new survey from Clever Real Estate , a St. Louis-based real estate company.

61% of Americans agree with the primary argument of the lawsuit, asserting that home sellers covering the buyer's agent commission is unfair and anti-competitive. However, 89% of agents believe the lawsuit's allegations lack validity.

Continue Reading

70% Of Real Estate Agents Oppose NAR Settlement Changes Image

How do you think the settlement will affect the real estate industry?
70% Of Real Estate Agents Oppose NAR Settlement Changes Image

Who do you think will benefit from the upcoming changes?

An overwhelming 71% of surveyed agents anticipate negative repercussions stemming from the NAR settlement, while the public is almost evenly split, 40% negative to 39% positive.

Only 15% of agents believe the changes will have a positive impact on their business, while 58% expect negative results.

Of the agents who believe the settlement will have a negative impact, 88% think it will discourage first-time buyers from entering the market. 82% of Realtors believe the commission changes will hurt buyers, while 42% believe the changes will also negatively impact sellers.

Two-thirds of would-be first-time homebuyers (66%) indicated that they wouldn't be able to afford their agent's commission in addition to the other closing costs and the down payment - potentially keeping them out of the real estate market entirely.

Among members of the public who support the changes, 44% say it would ease the financial burden on sellers, while 41% believe it would create a more level playing field between buyers and sellers.

A majority of agents (56%) anticipate that the settlement will lead to an increase in the average number of days properties remain on the market.

A whopping 95% of surveyed agents expect the new commission structure will cause agents to leave the industry.

Read the full report at:

About Clever Real Estate
Clever Real Estate
is a technology company that produces educational real estate content reaching over 10 million readers annually, and its nationwide agent matching service has a 5.0-star Trustpilot rating across 2,300+ customer reviews. Since launching in 2017, Clever has reached $8.5 billion in real estate sold, matched 100,000+ customers with realtors, and saved consumers over $160 million on commission fees. Clever's network spans 19,000 agents across all 50 states.

Please contact Alyssa Evans at [email protected] with any questions or to arrange an interview.

Did you buy or sell a home in the past 5 years?
The experts at Clever Real Estate want to hear about it. Answer a few questions for the chance to win a $250 Amazon gift card . (Bonus: If you both bought and sold a home recently, you can leave a separate review for each experience and get two entries.)

Alyssa Evans
Clever Real Estate
[email protected]

SOURCE Clever Real Estate


PR Newswire

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.