I’m selling my $1 million Maui home. Will my agent charge me less than a 6% commission?
“Legislation introduced in 2024 was designed to finally upend the traditional 6% real-estate commission model.”
Editorial perspective
AI-assisted
The National Association of Realtors settlement that took effect in August 2024 fundamentally altered how real estate commissions work in America. Previously, sellers typically paid a bundled commission—often around 6%—that covered both their agent and the buyer's agent. Under the new rules, buyer's agents must negotiate their compensation directly with their clients rather than automatically splitting the seller's commission.
For a $1 million Maui property, this shift matters considerably. Sellers now have stronger negotiating leverage with their listing agents, as they're no longer obligated to offer compensation to buyer's agents through the MLS. However, the actual commission paid depends on local market dynamics, property type, and negotiation skills. In competitive luxury markets like Maui, sellers may still choose to offer buyer-agent compensation to attract more potential purchasers. The key change is transparency and negotiability—not necessarily lower costs, though increased competition among agents should eventually apply downward pressure on rates.
Originally reported by Quentin Fottrell
for MarketWatch
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Editorial perspective
AI-assistedThe National Association of Realtors settlement that took effect in August 2024 fundamentally altered how real estate commissions work in America. Previously, sellers typically paid a bundled commission—often around 6%—that covered both their agent and the buyer's agent. Under the new rules, buyer's agents must negotiate their compensation directly with their clients rather than automatically splitting the seller's commission.
For a $1 million Maui property, this shift matters considerably. Sellers now have stronger negotiating leverage with their listing agents, as they're no longer obligated to offer compensation to buyer's agents through the MLS. However, the actual commission paid depends on local market dynamics, property type, and negotiation skills. In competitive luxury markets like Maui, sellers may still choose to offer buyer-agent compensation to attract more potential purchasers. The key change is transparency and negotiability—not necessarily lower costs, though increased competition among agents should eventually apply downward pressure on rates.