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As interest rates level out, the home buying process faces a new rule requiring a buyer-broker agreement to be signed before viewing prospective properties.
Starting Saturday, home buyers will be asked to enter into an agreement with their real estate agent regarding the commission to be paid before viewing a property.
National Association of Realtor board of director Jeff Levine says the new rule "makes it easier to negotiate fees with their own agent or use no agent at all."
The new rule is a result of a transparency settlement with the Department of Justice requiring agents to discuss the commission up front.
In a settlement with the DOJ, the National Association of Realtors has agreed to resolve antitrust litigation accusing brokerages of inflating sales commissions.