Commission Structure Serves Public, NAR President Says
Charlie Oppler, president of the National Association of REALTORS®, issued the following statement on Thursday to help clarify misinformation circulating regarding the real estate commission structure.
Class action attorneys looking for a payout and those illegitimately trying to position themselves in the real estate market are trying to mislead people with misinformation and glaring omissions about the real estate agent commission structure. I want to set the record straight about how this structure works and how it gives everyday Americans and small businesses critical advantages.
This structure makes the dream of homeownership within reach for more Americans. The commission structure where the listing broker offers to share his or her commission with the buyer broker ensures greater equity and equality for first-time, low-income, and many other home buyers who otherwise couldn’t afford a home and professional representation. If buyers had to pay an out-of-pocket commission to their agent at closing in addition to the price of the home, it would increase their costs and freeze many out of the market.