CHANGE TO COMMON REAL ESTATE FORM COULD MEAN EVEN MORE MONEY DOWN FOR CA HOMEBUYERS

SAN FRANCISCO (KGO) -- The California Association of Realtors routinely updates the forms used by realtors to secure common real estate transactions like buying and selling a home.

However, a change made to the form that specifies how a homebuyer's real estate agent is compensated is creating confusion among some in the real estate industry. The change has some agents unsure if the homebuyer would be on the hook to pay their agent instead of the seller -- that could mean tens of thousands more dollars to bring to the closing table.

There also concern about if that change will push Black and Latinx buyers out of the market-at a time when the gap between white and Black homeownership rate is wider than it was 50 years ago.

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