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REBNY Changes Buyer’s Agent Commission Rules

Friday, Oct 20 2023
Lending
Written by  The Mortgage Leader

The Real Estate Board of New York has adopted a change to its rules that will require sellers to pay the buyer’s agents directly, rather than listing brokers paying them. So reports The Real Deal.

REBNYThe revision to REBNY’s governing Universal Co-Brokerage Agreement goes into effect on January 1.

Ninve James, head of REBNY’s residential brokerage services and products, told the publication that the move is meant to “promote transparency and consumer confidence.”

Read the full article from The Real Deal.

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