How Oregon real estate agents are reacting to changes in the way they get paid

Think Out Loud

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2M ago 15:43

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A big shift took place over the weekend in the way people buy and sell homes in the U.S. The National Association of Realtors settled a lawsuit earlier this year that changed the way real estate agents get paid. Previously, a home seller would pay for both their own real estate agent and the agent representing the buyer. The two agents would split the commission, which was typically around 5-6% of the home’s selling price.

But now, buyers either have to pay for their own representation or negotiate with the seller to pay their agent’s fee. Some agents say the new rules will mean more clarity for consumers, while others say they will drive agents out of the business.

Ashleigh Fordham is the principal broker and owner of Windermere Real Estate in Salem. She’s also the current president of the Oregon Association of Realtors. Colin Mullane is a former president of the organization and the principal broker and owner of Full Circle Real Estate in Ashland. They join us to share their perspectives on how these changes are playing out in Oregon.

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