Source: Rachel Kurzius, Washington Post ( Paid Registration )

In the United States, there’s generally an agent representing the seller and one representing the buyer. The seller pays the commission to both of them. Generally, commissions are 5 to 6 percent of the home-sale price. The buyer’s and seller’s agents split that money.

Industry watchers question the one-size-fits-all approach to commissions. Chandan believes that decoupling buyer and seller commissions could create more competition and variety in the market.

Read Full Article: How real estate commissions work and why they might get lower