WVXU: Settlement could cause big changes in housing market
UC professor says increased transparency should benefit buyers, sellers
A recent settlement should increase transparency in the real estate market, which will be a positive development for buyers and sellers, a University of Cincinnati professor said during a discussion on WVXU's Cincinnati Edition.
Gary Painter
Gary Painter, PhD, the academic director of the Carl H. Lindner College of Business real estate program and a professor of real estate, joined Cincinnati Edition to discuss the National Association of Realtors' settling lawsuits that accused the trade group of unfairly propping up agent commissions. The association has agreed to pay $418 million to help compensate home sellers and will allow home buyers and sellers to negotiate lower agent commissions.
“In my view, that's what we're going to see, an evolution of the real estate industry so that people have a better sense of what service they're getting for what cost,” Painter said. “And that will evolve over time to perhaps a new equilibrium. In total, it may or may not be more be less costly for buyers and sellers collectively, but in some cases it will.”
Previously, buyers and sellers did have the opportunity to negotiate fees. However, many people didn't realize the options that were available to them.
The new landscape will present an opportunity for people to become more informed, Painter said, and decide which services they actually need.
“I think choice in general is a good thing for buyers, especially informed choice,” he said. “In my view, this is an opportunity for the industry to allow both buyers and sellers to be much more informed about what are the opportunities in front of them.”
Buyers and sellers already have looked to reduce the costs in the real estate market by using companies such as Homeshake, as reported by Cincy Inno. The startup uses a peer-to-peer platform that directly connects buyers and sellers, eliminating real estate agents and lowering commissions.
“You’ll see seasoned homebuyers and sellers most attracted first to them, and then eventually, you’ll see they’ll have competitors themselves in that industry,” Painter told Cincy Inno. “The industry is going to see kind of a transformation of the unbundling of services that were traditionally provided by a buyer’s agent, seller’s agent … that will be priced in a more competitive way for the consumer and/or the home seller.”
See more from Cincinnati Edition and Cincy Inno.
Featured image at top: A couple moving into a new home. Photo/Andrew Mead via Unsplash
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
Bidirectional link between oral, kidney health calls for patient education, access
August 4, 2026
Despite growing awareness of the connection between oral health and chronic health conditions, patient awareness and access to dental care remain limited, according to University of Cincinnati experts who recently spoke with Healio | Nephrology News & Issues.
UC Blue Ash grad goes from commencement to the corporate world
August 4, 2026
Fairouz Maayah is a UC Blue Ash College alumna who is using her education, skills, and hands-on experience to launch her career with Ernst & Young, one of the world’s largest professional services firms, where she works with businesses from around the globe.
The subtle changes in hearing you should never ignore
August 4, 2026
It’s easy to dismiss changes in hearing as minor. But as The Washington Post recently reported, these symptoms could also signal a medical emergency that many people don’t recognize — known as sudden sensorineural hearing loss, a rapid decline in hearing that occurs suddenly or over a few days.