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Analysis: How low could your commission go? Take a look at how the UK sells homes

·1 min

A settlement reached in the US is expected to bring changes to the real estate industry, potentially ending the standard 6% commissions on home sales. This development opens the door for alternative models of selling properties, similar to what has happened in the UK. In recent years, low-cost, online-only real estate agencies have shaken up the British housing market by offering competitive upfront fixed fees for basic services. Although online agencies only accounted for a small percentage of homes sold in the UK, they have made the market more competitive and transparent. The settlement in the US is likely to result in lower real estate commissions overall.