The hot housing market is claiming another casualty: buyer’s agent commission.
Real estate commission rates are just one step below fixed, according to a new report from the Consumer Federation of America. And rising home prices are handing ammunition to those who say that has to change.
The federal Department of Justice says it’s abandoning a proposed settlement and its civil antitrust complaint against the National Association of Realtors. But it’s not letting the group off the hook.
In a move it’s billing as a boon to consumers, Redfin announced Monday that it’s publishing buyer’s agent commissions on over 700,000 home listings across the country, including in Connecticut.
The average commission rate paid on American home sale transactions continues to decline and could dip below 5 percent within the next few years.