Courtesy of Mukul Lalchandani
- Mukul Lalchandani, a real estate agent, discusses the impact of new commission rules.
- The new rules mean that sellers no longer have to pay the buyer's agent commission.
- These changes may most affect low-income buyers, but Lalchandani says his clients won't be affected.
This as-told-to essay is based on a conversation with Mukul Lalchandani, a 44-year-old real-estate agent from New York. It's been edited for length and clarity.
My parents wanted to buy a house in the US before immigrating here from Hong Kong, but they didn't know how real estate worked in this country.