John Rogers
New nationwide laws that protect homebuyers from predatory commission practices by real estate brokers and agents that went into effect earlier this month may not be a big deal in Utah, according to industry sources. While the dramatic changes in real estate commission disclosure and negotiating practices — stemming from legal settlements regarding commissions — are expected to significantly impact the real estate market in many parts of the U.S., Utah is less likely to see dramatic shifts.
Utah has been ahead of the curve in terms of transparency and consumer-friendly practices. For over two decades, Utah real estate agents have used buyer-agent agreements which clearly outline commission structures. This means that buyers and sellers in Utah have long been accustomed to understanding and negotiating commissions, unlike in many other states where these practices are only now being mandated due to the Please log in to see the rest of this story.
