Charlotte homebuyers face new rules on Realtor fees

A national legal settlement is prompting changes in the process of buying and selling homes

The following article appeared in the August 16, 2024, edition of The Charlotte Ledger, an e-newsletter with smart and original local news for Charlotte. We offer free and paid subscription plans. More info here.

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Local Realtors adapt to changes taking effect this month in buying and selling houses; ‘positives and negatives’

People buying and selling homes in the Charlotte region should expect to see a few changes beginning this month, following a big national legal settlement that seeks to bring more clarity over how Realtors are compensated.

The changes could eventually lead to agents receiving lower commissions, and a reduction in the longstanding practice of buyers’ agents being compensated by the sellers — a tradition that sparked national lawsuits alleging that those arrangements were anticompetitive without adequate disclosure.