Homebuyers, real estate agents face major change starting Aug. 17

The video discusses new rules in real estate requiring buyers to sign commission agreements with agents before home tours. These changes stem from lawsuits against the National Association of Realtors, which settled for $418 million. The video explains how these agreements specify commission rates, traditionally split between buyer and seller agents. It also covers negotiation possibilities, such as using seller concessions to cover buyer's agent fees. Additionally, compensation details can no longer be included in MLS listings, affecting how homes are bought and sold.

What are seller concessions, and how can they be used in real estate transactions?

What new rule was implemented regarding compensation on the Multiple Listing Service?